Astris Energi Reports Second-Quarter 2005 Results
Astris Energi Inc. (Mississauga, ON), a developer of alkaline fuel cell technology, announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2005. (All amounts are in Canadian dollars unless otherwise indicated.) Revenue increased to $76,364 for the six months ended of 2005 from $11,221 for the same period of 2004. For the first half of 2005, expenses totalled $1,687,417, compared with $1,283,636 for the same period of 2004.
Astris reported a net loss for the six months ended June 30, 2005, of $1,611,053, which compares to a net loss of $1,272,415 for the same period of 2004. This represents a loss of $0.059 per share (basic and diluted) compared with $0.062 during the same period of 2004.
"We are focused on making the transition from research and development to sales," stated Astris President and Chief Executive Officer Jiri Nor. "Astris is currently completing its systems for delivery to prospective strategic partners and potential recurring customers."