CALIFORNIA NANOTECHNOLOGIES REPORTS AUDITED YEAR END FINANCIAL RESULTS
Created at :
Jul 2, 2015
CNO – TSX VENTURE
CERRITOS, CALIFORNIA, July 2, 2015 - California Nanotechnologies Corp. (“Cal Nano” or the “Company”) is pleased to report financial results for the year ended February 28, 2015. For fiscal 2015, revenues were $352,136 USD compared to $373,481 USD in 2014. This decrease in revenue was due primarily to reduced sales in the sports and recreational division.
The Company’s cash flow used for operations was $254,968 USD compared with $267,923 USD during the prior year.
Cal Nano’s net loss for the year was $328,071 USD or $0.01 per share, compared to a loss of $302,365 USD or $0.01 per share in the prior year. Due to increased business activities, overall operating expenses of $651,835 USD were higher by 10% when compared to the prior year.