Brief: American Virtual Cloud Anticipates Will Need Additional Capital To Fund Current Ops
11/10/2022 22:35
Oct 11 (Reuters) - American Virtual Cloud Technologies
Inc AVCT.O :
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES INC - FOR QUARTER
ENDED
SEPTEMBER 30, 2022, COMPANY EXPECTS TO REPORT TOTAL REVENUE OF
APPROXIMATELY $4.6 MILLION
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES - TAKEN ACTIONS THAT
IT
BELIEVES TO RESULT IN ANNUALIZED COST SAVINGS GOING FORWARD OF
OVER $7 MILLION
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES - BELIEVES ANNUALIZED
COST
SAVINGS PARTIAL IMPACT EXPECTED TO BE REALIZED IN Q3
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES INC - HAS ALSO
OBTAINED
STRATEGIC AND OPERATING RESTRUCTURING SUPPORT SERVICES OF SOLIC
CAPITAL ADVISORS
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES INC - EXPECTS TO
PURSUE
ADDITIONAL COST SAVINGS INITIATIVES IN Q4
* AMERICAN VIRTUAL CLOUD TECHNOLOGIES INC - ANTICIPATES THAT
IT
WILL NEED ADDITIONAL CAPITAL TO FUND ITS CURRENT OPERATIONS
Further company coverage: AVCT.O
((Reuters.Briefs@thomsonreuters.com;))
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