Mr. Michael O'Connor reports
NAIKUN WIND RELEASES FIRST QUARTER FINANCIAL RESULTS
Naikun Wind Energy Group Inc. has released its financial results for the three months ended Dec. 31, 2014, a
fiscal period in which the company continued to explore ways to forward the Naikun wind project while
controlling its costs. A substantial restructuring was undertaken in the third quarter of fiscal 2010, and the
company has maintained both the expense profile and the strategic efforts as laid out by the board of
directors. Naikun Wind remains confident that this direction represents the best available opportunities to
support the advancement of the project and maximize shareholder value.
For the three months ended Dec. 31, 2014, Naikun Wind incurred a net loss of $400,000 (one cent per
share), compared with $400,000 (one cent per share) for the three months ended Dec. 31, 2014. As at
Dec. 31, 2014, Naikun Wind had $1.9-million in cash and cash equivalents, compared with $2.5-million at
the end of Sept. 30, 2014. These numbers are consistent with the company's planned operations.
For fiscal 2015, the company expects cash operating expenditures to be approximately $1.6-million. On this
basis, the company has sufficient financial resources to sustain operations through 2015.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.