From GlobeNewswire: 2024-12-31 16:10:00

MKDWELL Tech Inc. reported financial results for the first half of 2024, showing a decrease in total revenues by 61.3% compared to the same period in 2023. The company’s net loss increased by 77.8% year-over-year. Management attributed the decline in revenue to the termination of a key customer relationship and expenses related to the Nasdaq listing. Despite challenges, the company completed a business combination with Cetus Capital in July 2024, acquiring a subsidiary and indirect equity interest in another. MKDWELL Tech Inc. is focused on business development and improving product quality to increase customer trust and dependence.

Cetus Capital Acquisition Corp. also released financial statements for the first half of 2024, reporting a loss from operations and a decrease in income compared to the same period in 2023. The company saw an unrealized gain on marketable securities and other income, but also incurred losses from extinguishment of debt. Weighted average shares outstanding decreased year-over-year, and basic and diluted net income per common share decreased as well. The financial statements have not been audited or reviewed by an independent registered accounting firm as of June 30, 2024.



Read more at GlobeNewswire: MKDWELL Tech Inc. Reports First Half of Fiscal Year 2024