FLYE net revenues fall 48.4% and net loss widens to $3.9 million
FLYE net revenues fell 48.4% year-over-year to $2.7 million. Net loss widened to $3.9 million, attributed to lower gross margin and higher expenses. The firm remains in default on a $5 million credit facility and faces ongoing litigation.
Net revenues fell 48.4% year-over-year to $2.7 million, with net loss widening to $3.9 million due to lower gross margin and higher expenses.
The company remains in default on a $5 million credit facility, faces ongoing litigation, and has unresolved internal control weaknesses, raising substantial…