RiceBran Technologies
ricebrantech.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 13, 2024. Its latest SEC filing is a SEC STAFF ACTION from Feb 21, 2025.
10-Q for Q1 FY2024, filed May 13, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells specialty products made from barley, oats and mustard to domestic and international customers.
10-K for FY2023, filed Apr 1, 2024We are a specialty ingredient company focused on the development, production, and marketing of products derived from traditional and…View ↗
Our MGI grain mill and processing facility in East Grand Forks, Minnesota specializes in processing barley, oats, and mustard and provides…View ↗
We use almost entirely internal sales staff to market our portfolio of products to customers domestically and internationally. In 2023 and…View ↗
Following the sales of the SRB Business and Golden Ridge, we derive revenues from sales of barley, oats and mustard produced at our grain…View ↗
How Did They Make Money?
The company sells products through customer orders at fixed prices, with sales counted when products are delivered to the customer or its designated delivery point.
10-K for FY2023, filed Apr 1, 2024Revenue Recognition – We account for a contract with a customer when the written contract is committed, the rights of the parties…View ↗
$22.6M
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10-K for FY2023, filed Mar 29, 2024
$22.6M ↗
Who Were Their Customers?
The company uses almost entirely internal sales staff to market its products to customers domestically and internationally.
10-K for FY2023, filed Apr 1, 2024We use almost entirely internal sales staff to market our portfolio of products to customers domestically and internationally. In 2023 and…View ↗
Did Revenues Turn Into Profits?
No. It lost $17.6M in FY2023.
10-K for FY2023, filed Mar 29, 2024
−$7.9MView ↗
10-K for FY2023, filed Mar 29, 2024
−$17.6MView ↗
10-K for FY2023, filed Mar 29, 2024
−$3.1MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q1 FY2024, filed May 13, 2024
−$1.9MView ↗
- ▼ −8% (Loss)
- vs −$2M in Q1 FY2023
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Nov 6, 2024
Funicular acquired assets in foreclosure; company operations ceased.
Following the foreclosure sale, the company ceased further business operations.
Sources
8-K, filed Nov 6, 2024
On September 20, 2024, pursuant to Section 9-611 of the Code, the Secured Party delivered a Notice of Public or Private Disposition of…View ↗
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Oct 15, 2024
The independent auditor resigned.
Withum notified the company it was resigning as its independent registered public accounting firm.
Sources
8-K, filed Oct 15, 2024
On October 10, 2024, WithumSmith+Brown, PC (“Withum”) notified the Company that they were resigning as the Company’s independent registered…View ↗
Held flat. Revenue was $22.6M in FY2023, about the same as the $23.7M of FY2019.
A narrower product portfolio
The older report described stabilized rice bran and derivative products alongside rice milling and barley and oats processing. The latest report says the company derives revenue from barley, oats and mustard at its East Grand Forks facility, following sales of its rice bran business and rice mill.
10-K for FY2020, filed Feb 25, 2021 10-K for FY2023, filed Apr 1, 2024We are a specialty ingredient company that utilizes proprietary stabilization and separation technologies, supported by specialty milling…View ↗
We currently source SRB at four locations: two leased raw rice bran stabilization facilities located within supplier-owned rice mills in…View ↗
Barley and Oats MillView ↗
On June 23, 2023, we completed the sale of our assets related to our stabilized rice bran business (SRB Business) for $1.8 million in cash…View ↗
On January 25, 2024, we sold our rice mill facility in Wynne, Arkansas operated by Golden Ridge Rice Mills, Inc. (Golden Ridge), that was…View ↗
Following the sales of the SRB Business and Golden Ridge, we derive revenues from sales of barley, oats and mustard produced at our grain…View ↗
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