Dynamic Energy Alliance Corporation Announces 2012 Third Quarter and Nine-Month Results
(firmenpresse) - DALLAS, TX -- (Marketwire) -- 11/15/12 -- Dynamic Energy Alliance Corporation (OTCQB: DEAC) today announced fiscal year 2012 third quarter and nine-month financial results.
Total revenue for the Company's third quarter ended September 30, 2012 was $14,710 compared to $56,677 reported during the third quarter ended September 30, 2011. The Company's revenue is attributable to commissions generated from contracted services provided by one of its subsidiaries.
Operating expenses for the third quarter 2012 totaled $349,698 and were comprised of $2,845 in project development costs, $100,000 in consulting services and $246,853 in general and administrative expenses. Other expenses during the third quarter included $4,199 in interest expenses. The Company's net loss for the third quarter ended September 30, 2012 was $(339,296), or $(0.00) per share, basic and fully diluted, based on the weighted average number of 82,019,605 Common shares outstanding, compared to a net loss for the quarter ended September 30, 2011 of $(3,134,007), representing an 89% reduction in net loss for the quarter over prior like quarter.
Total revenue for the first nine months of the Company's fiscal year 2012 was $420,189, compared to $1,550,019 reported during the first nine months of the Company's prior fiscal year. The Company reported a net loss of $ (851,783), or $(0.01) per share, basic and diluted, for the first nine months of fiscal year 2012 versus a net loss of $(2,841,907), or $(0.05) for the first nine months of fiscal year 2011, representing a 70% reduction in net loss for the period over prior like period.
Charles R. Cronin, Jr., Chairman of Dynamic Energy Alliance Corporation, stated: "We continued to make significant advances during the third quarter 2012 with respect to our facility and technology development while continuing to reduce debt and expenses. The Company secured an option for a site in Ennis, Texas for our first energy campus, and we entered into an agreement in principle to acquire an exclusive worldwide license to technologies that extracts high value compounds from pyrolysis oil. We look forward to more accomplishments by year end, with our focus on the first energy campus utilizing the pyrolysis technologies."
For more information, please refer to the Company's current Form 10-Q filed with SEC on November 14, 2012.
Dynamic Energy Alliance Corporation (DEAC), , is a development stage energy and recycling company focused on identifying, combining and enhancing existing technologies with proprietary recoverable production and finishing processes to produce synthetic oil, carbon black, gas, and carbon steel from waste feedstock. This process is expected to be accomplished with limited residual waste product and significant reductions in greenhouse gases compared to traditional processing. To maximize this opportunity, the Company has developed a scalable, commercial development strategy to build "Energy Campuses" with low operational costs and long-term, recurring revenues.
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This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Such forward-looking statements include, but are not limited to, statements about the transactions described herein, future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not historical facts. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Management's beliefs, assumptions and expectations about the Company's future performance, taking into account information currently available to the Company. The Company will update this forward-looking information only to the extent required under applicable securities laws.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Commission at .
Contact:
Robert Bleckman
Dynamic Energy Alliance Corporation
(214) 838-2687, extension 2006
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Datum: 15.11.2012 - 17:36 Uhr
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News-ID 204317
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Alternative Energy
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