CALGARY, Feb. 22, 2012 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EMB" or "EmberClear") today announced its unaudited financial results for the three and six month periods ended December 31, 2011.
EMB's net loss for the six month period, including discontinued operations, increased 167% to $3,987,017 from a net income of $5,930,321 for the same period in the prior year. For the three month period, the loss was $1,651,039 compared to net income of $6,989,541 for the same three months in the prior year.
As of December 31, 2011 the cash position of the company was $4,213,693 with working capital of $3,426,415 compared to working capital of $9,251,229 at June 30, 2011.
EMB's financial statements, management's discussion and analysis, and related information can be found on SEDAR at www.sedar.com.
About EmberClear Corp.
EmberClear is an advanced energy development company. Based on global energy needs from a growing population, our solutions are designed to deploy commercial scale energy technologies, which enable dramatic improvements in the efficiency and cleanliness of fossil fuels and alternative energy sources. Our goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results in the utilization of coal while also deploying state of the art carbon dioxide capture solutions.
Our expertise is being utilized by a diverse group of governments, utilities and industrial companies spanning a wide range of geographies with the common interest in creating gasification, supercritical (SC), ultra-supercritical (USC), circulating fluidized bed (CFB) and post-combustion carbon dioxide capture (PCC) energy solutions producing electricity, synthetic gas, liquid fuels, fertilizers, and industrial construction products. Our solutions often include the vast thermal chemistry sciences and processes developed by Huaneng Clean Energy Research Institute (HCERI). HCERI has the most experience and resources devoted to this industry. Our partnership ensures advanced energy solutions are financially sustainable so that the benefits accrue to the global marketplace and not just a few special projects.
For more information, please visit www.emberclear.com
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate," "continue," "estimate," "expect," "forecast," "may," "will," "project," "could," "plan," "intend," "should," "believe," "outlook," "potential," "target," "seek," "budget," "predict," "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to the adoption of advanced energy solutions and the global demand for clean technology. With respect to forward-looking statements contained in this document, we have made assumptions regarding the demand and political support for clean energy technologies and the existence of coal resources or reserves on EmberClear lands. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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© 2012 EmberClear Corp. All rights reserved.
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For further information:
David G. Anderson
+1 (403) 264-8817