Cleanfield Reports 56% Increase in Quarterly Revenues and Positive Cash Flow
HAMILTON, ON,
Financial highlights: Compared to the same fiscal periods in the previous year, revenue increased 56% in the second quarter, and 17% for the six months ended
Cleanfield has a sales order backlog of approximately
------------------------------------------------------------------------- Three months ended November 30 Six months ended November 30 --------------------------------------------------------------- 2009 2008 Change 2009 2008 Change ------------------------------------------------------------------------- Revenue $153,910 $98,855 56% $217,183 $186,228 17% Loss $(303,989) $(954,854) (68)% $(654,319) $(2,025,927) (68)% Loss per share $(0.01) $(0.04) (75)% $(0.02) $(0.09) (78)% -------------------------------------------------------------------------
Cleanfield's CEO
Granting of Stock Options: Cleanfield also announced that it granted 210,000 stock options to Directors of the company. All options are exercisable at a price of
About Cleanfield Alternative Energy Inc.: Cleanfield is committed to developing efficient renewable energy products primarily for the urban environment. The Company produces an industry-leading VAWT, which can be installed in various ways, produces green renewable energy quietly and cost effectively and is sold worldwide. Cleanfield also provides purchase financing to qualified customers, and is developing solar photovoltaic products for commercialization.
Advisory notices: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Certain statements in this news release may be considered to be forward-looking. These statements relate to future events or Cleanfield's future results including revenues and reflect the current assumptions and expectations of management. Unknown factors may affect the events, performance, revenues and results of operations described herein. Cleanfield undertakes no obligation, and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable laws.
For further information: Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield Energy, (905) 304-5223, [email protected]
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