RICEBRAN TECHS - RIBT STOCK NEWS

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RiceBran Technologies (NASDAQ:RIBT) is revolutionizing the use of rice bran, an often overlooked by-product of the global rice milling industry. Utilizing proprietary and patented technologies, the company stabilizes and processes rice bran to create nutrient-rich, sustainably sourced ingredients that enhance the nutritional value of foods and beverages. These products are non-GMO, vegetarian, vegan, and gluten-free, appealing to a wide range of dietary preferences and needs.

RiceBran Technologies has made significant strides in producing high-quality, nutrient-dense ingredients that cater to the growing global demand for protein, dietary fiber, edible oil, and other food components. The company also ventures into functional foods and rice bran-based nutricosmetics, emphasizing sustainability by capturing rice bran's value without increasing the use of arable land or water.

In recent developments, RiceBran Technologies has strategically realigned its business operations. The sale of its stabilized rice bran (SRB) business for approximately $3.5 million has reduced ongoing fixed costs and streamlined its organization. This divestiture is part of a broader strategy aimed at improving financial stability, decreasing projected annual net loss by about $2.2 million, and better positioning the company for future opportunities.

The company has also adopted a Tax Benefits Preservation Plan to safeguard its significant U.S. federal and state net operating loss carryforwards, which can be utilized to reduce future tax liabilities. With a focus on maintaining these tax benefits, RiceBran is better equipped to navigate changes in its investor base and maximize its financial health.

Operationally, RiceBran Technologies has shown improvements in efficiency and capacity, delivering positive gross profits in the second quarter of 2023. The company's strategic review continues, aiming to explore various alternatives to enhance shareholder value. Recent financial maneuvers, including a $4 million cash investment and recapitalization efforts, have further stabilized the company's balance sheet and capital structure.

With an experienced board, including new independent directors James Flynn and Georgina Russell, RiceBran Technologies is well-positioned to leverage its public listing and substantial tax assets. The company remains a global leader in developing and marketing specialty ingredients derived from rice, barley, and oats, catering to both human and animal nutrition markets.