Negative earnings report out:
Total revenues of $2,071,192 for the year ended August 31, 2012 compared to total revenues of $3,037,475 for the year ended August 31, 2011.
Net loss of $7,960,660 for the year ended August 31, 2012 compared to $5,285,517 for the year ended August 31, 2011.
Net cash used in operating activities of $5,935,939 for the year ended August 31, 2012 compared to $4,157,225 for the year ended August 31, 2011
________
For the prior nine months revenues had totalled $1,582,268. So revenues flat at $.5m per quarter. And losses flat at $2m per quarter.
Stock down 20%.
My estimate is that they are only 6 months from doing another secondary. |
