EFL.TO MASSIVE FINANCIAL HIGHLIGHTS FOR 2014!!
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Posted On: 03/16/2014 6:30:41 PM
EFL.TO >>MASSIVE FINANCIAL HIGHLIGHTS FOR 2014!!
Quarter ending December 31, 2013
Revenue for the quarter ending December 31, 2013 increased to $1.8 million, a 131% increase compared to the prior quarter ending September 30, 2013.
Gross margin was 34%.
Cash and cash equivalents were approximately $1.4 million as at December 31, 2013.
The Cdn $6.3 million financing took place subsequent to December 31, 2013 and is not included in the cash and cash equivalents as of December 31, 2013. This essentially non-dilutive debt financing of $6.3 million replaces the earlier debt of $5 million and includes 1 million warrants at market price.
The loss for the quarter was $0.00 cents per share and nearing breakeven.
Financial Outlook:
[b]Electrovaya gives guidance of revenues exceeding $15 million for calendar year (not FY) 2014.[/b]
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