AER Energy Resources Inc. (Atlanta, GA) announced operating results for the second quarter ended June 30, 2001.
The company's second-quarter net loss attributable to common stock decreased to $1.22 million, or $0.05 per share, from $1.26 million, or $0.05 per share, for the same period in 2000. Total costs and expenses decreased 12 percent to $1.13 million from $1.28 million for the same period in 2000.
Research and development expenses for the quarter ended June 30, 2001, decreased 13 percent to $0.75 million from $0.86 million for the same period in 2000.
The company's net loss attributable to common stock for the six-month period ended June 30, 2001, was $2.42 million, or $0.10 per share, versus a net loss of $2.52 million, or $0.10 per share, for the same period in 2000.
Total cost and expenses for the six-month period ended June 30, 2001, decreased 13 percent to $2.32 million from $2.66 million for the same period in 2000. At June 30, 2001, the company had total cash and cash equivalents of $0.91 million, all of which will be fully utilized during the third quarter of 2001.
