Midwest Energy Emissions Corp. (OTC:MEEC) Stock in Focus Recent News
As the world gets more and more geared towards environmental issues it could be a prudent move to look into companies which are associated with the sector. A company that may be worth looking into at this point is Midwest Energy Emissions Corp. (OTC:MEEC), a leader in the environmental technology space. On January 16, the company entered the news cycle after it announced that its board of directors had decided to award nonqualified stock options to some of the officers, employees, and directors of the company.
The options are for the acquisition of an aggregate of 1,000,000 shares in the Midwest Energy Emissions Corp. common stock, in line with the provisions of the company’s amended and restated 2018 equity investment plan. It was revealed that all the options were exercisable at $0.88 a share since it was a representation of the fair market value of the stock on the day on which it was granted. The options could be exercisable on any day since the grant and would expire on January 15, 2029.
The company filed its financial results for the third fiscal quarter ended on September 30, 2023 on November 21 last year. It may be a good move to take a look at some of the key highlights. At the end of the period, Midwest Energy Emissions Corp. had a cash balance of $2.5 million and working capital of $1.7 million. The company generated revenues of $6.7 million for the quarter.
In the nine months ended on September 30, 2023, the net cash provided through operating activities stood at $786,000. The Chief Executive Officer of the company, Richard MacPherson, spoke about the performance and termed it solid. He went on to add that the cash in hand with Midwest Energy Emissions Corp. had continued to rise from one quarter to the next.
