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Carbon Streaming Corporation - OFSTF STOCK NEWS

Welcome to our dedicated news page for Carbon Streaming Corporation (Ticker: OFSTF), a resource for investors and traders seeking the latest updates and insights on Carbon Streaming Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Carbon Streaming Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Carbon Streaming Corporation's position in the market.

News
Carbon Streaming Provides Update on Rimba Raya Project
Rhea-AI Summary
<p>Carbon Streaming provides an update on the Rimba Raya Project following reports of the revocation of the Forest Utilization Business License held by PT Rimba Raya Conservation. The Company is working to validate these claims and preserve its carbon rights. InfiniteEARTH, the project proponent, is disputing the revocation and seeking clarification from the Indonesian Government. The Company will continue to update shareholders on further developments.</p>
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.56%
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none
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News
Carbon Streaming Announces Financial Results for the Year Ended December 31, 2023
Rhea-AI Summary
Carbon Streaming (OFSTF) reports financial results for 2023 with a focus on reduced operating costs and strong cash balance. The company ended the year with $51.4 million in cash, no corporate debt, and a restructuring plan resulting in $7.5 million in expense reductions. Despite a net loss of $35.5 million for the year, adjusted net loss improved to $7.6 million. Quarterly highlights show a net loss of $26.1 million with $2.1 million in upfront deposits for carbon credit agreements.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.79%
Tags
earnings
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News
Carbon Streaming Provides Corporate Update and Announces New Removals Streaming Agreement With Mast Reforestation
Rhea-AI Summary
Carbon Streaming Corporation announces a new streaming agreement with Mast for the Baccala Ranch Reforestation Project in California, USA. The project aims to restore 523 acres damaged by the Dixie Fire, generating 91,500 tCO2e and carbon credits. The company will make upfront payments and receive proceeds from carbon credit sales. The Sheep Creek Reforestation Project is expanded, and Indonesian regulatory updates are discussed.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.98%
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none
News
Carbon Streaming Announces Reduction in Board Size
Rhea-AI Summary
Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) has announced a reduction in the size of its Board of Directors from eight to five members. Three directors have voluntarily resigned, and the Board is now comprised of five directors, three of whom are independent. The company's Chair stated that the move is part of a restructuring plan to enhance efficiency and maintain the independence and experience needed for success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.52%
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none
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News
Carbon Streaming Provides Update on Restructuring Initiatives and Initiates Strategic Review
Rhea-AI Summary
Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) announced the initiation of a strategic review process as part of its ongoing corporate restructuring to ensure competitiveness and long-term sustainability. The company has made significant progress in reducing operating expenses and is actively reviewing its carbon credit stream and royalty portfolio. The Board of Directors and a Special Committee will evaluate various options to maximize shareholder value, including acquisitions, divestments, financings, and strategic partnerships.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.58%
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none
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News
Carbon Streaming Announces Financial Results for the Three and Nine Months Ended September 30, 2023
Rhea-AI Summary
Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) reported its Q3 financial results, highlighting a strong cash balance, reduced operating costs, and a diversified investment portfolio. The company recognized net income of $0.7 million and ended the quarter with $54.4 million in cash and no corporate debt. Carbon Streaming Founder and CEO Justin Cochrane emphasized the commitment to protecting the balance sheet and executing on sales, positioning the company to benefit from future increases in demand for voluntary carbon credits.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.58%
Tags
earnings
News
Carbon Streaming Announces Second Removals Streaming Agreement With Mast Reforestation
Rhea-AI Summary
Carbon Streaming Corporation enters into a streaming agreement with Mast Reforestation for the Feather River Dome Reforestation Project in California, USA.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.04%
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none
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News
Carbon Streaming to Provide Microsoft With Biochar Carbon Removal
Rhea-AI Summary
Carbon Streaming Corporation will provide Microsoft with carbon removal credits from the Waverly Biochar project, which is expected to deliver up to 10,000 tonnes of carbon dioxide removal credits per year. Microsoft's commitment to offtake verified carbon dioxide removal from the project is seen as a positive move for the industry. Biochar is considered a vital piece of the puzzle for corporations with net zero commitments and has the potential to sequester significant amounts of carbon emissions by 2050. Carbon Streaming's approach of providing project capital to developers is beneficial for corporations using carbon credits as part of their climate strategies.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
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News
Carbon Streaming Announces Additional Steps to Position Company for Long-term Success
Rhea-AI Summary
Carbon Streaming Corporation announces expense reductions expected to save over $3 million per annum and strong cash balance
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.86%
Tags
none
News
Carbon Streaming Announces Financial Results for the Three and Six Months Ended June 30, 2023
Rhea-AI Summary
Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) reported strong financial results for Q2 2023, ending the quarter with $59.4 million in cash and no corporate debt. The company recognized a net loss of $9.2 million, but adjusted net loss improved to $0.8 million. Carbon Streaming added a reforestation project to its portfolio and undertook cost-cutting measures, resulting in a non-recurring corporate restructuring charge of $1.6 million. The company also increased its upfront investment in the Waverly Biochar Stream. Financial highlights include $44,000 in revenue from the sale of purchased carbon credits, with a gross profit of $10,000. The company settled 97,184 carbon credits under carbon credit streaming agreements and incurred other operating expenses of $3.4 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.62%
Tags
earnings
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Carbon Streaming Corporation

OTC:OFSTF

OFSTF Rankings

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OFSTF Stock Data

22.67M
46.10M
5.68%
0.02%
Crushed and Broken Limestone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
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Canada
Toronto