ETX: Q210 Results

MACMURRAY WHALE, Cormark Securities (08/23/2010)
"ETX reported its Q210 results last week, recording its first revenues during the quarter. The company began recognizing revenue from the operating Helios solar farm (a component of the Deutsche Bank assets acquired during the quarter), beginning on June 24, 2010 and totaling $127K. Net loss for the period was $5.3MM or $0.03/share. Comparisons to last year's results are insignificant, given that the company has since transformed its focus from oil and gas resource investment in South America, to renewable power production in Europe. In fact, financial results in general remain largely insignificant to ETX, as the company is at the outset of a significant period of project advancement and corporate growth."

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