Tough times ahead,Thermal Energy International Inc. posted WIDER losses in its second quarter.
The Ottawa-based green energy company said net LOSSES in the three months ended Nov. 30, 2007 were $863,431, compared to $689,150 a year earlier.
The company blamed the higher loss on HIGHER salaries and commissions, a stock-based compensation charge of $132,034 and "INSUFFICENT sales volume to COVER the current levels of fixed costs in the company to produce a net profit."
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Well at least the BOSSES are making some money,
good for them,
their motto must be
"Screw the shareholders!"
