The company was formerly known as rally Advanced Technologies Inc. and changed its name to Crailar Technologies Inc (OTC:CRLRF) in October 2012. Crailar Technologies Inc. was founded in 1998 and is headquartered in Victoria, Canada. Crailar Technologies Inc. provides sustainable, environmentally friendly fibers and fabrics. The Company is developing and patenting a biotech enzyme fiber process to produce conservation-based textiles and composites. The Company engages in the development and execution of CRAiLAR and CRAiLEX bast fiber processing technologies. The company focuses on providing textile, plastics, composite, and pulping solutions through the process of converting industrial hemp, flax, and other bast fiber crops through its patented technologies. It is involved in developing CRAiLEX advanced material technologies for processing of cellulose-based fibers in pulp and paper, dissolving pulp, and performance apparel industries; and CRAiLAR fiber technologies for applications in the textile industry.
The stock for Crailar Technologies Inc (OTC:CRLRF) stood at USD 2.3010 representing a market capitalization of USD 101.07 million. Over the last year the stock has traded between a range of USD 1.57 and USD 3.58. The stock has witnessed an average volume of 28,227 shares over the last three months. The Company has a total float of 34.14 million shares.
Net Profit / Loss:
The Company’s net operational loss from continuing operations during 6MFY12, was recorded at USD 4.23 million, as compared to USD 3.9 million during the corresponding period last year; representing an absolute increase in loss of USD .311 million. The increase in loss was due to an increase in advertising and promotion expenses, an increase in amortization and depreciation expenses, salaries & benefits expenses, stock based compensation, an increase in general and administrative expenses, and professional fees.
For 6MFY12, the company had current assets of USD 3.1 million and current liabilities of USD 1.7 million, which resulted in working capital of USD 1.4 million. As of June 30, 2012, total assets were USD 9.79 million.
The company reported cash and short-term investment balances of USD 805 k, as of June 30, 2012 . The company had a cash value per share of USD 0.02.