Business
AFS (2004) cash flow positive for last half of 2005
AFS (2004) cash flow positive for last half of 2005.
About this update from Arctic Fox Lithium Corp
[{"type":"text","content":"\n\n\n\n\nAnnouncement of 2005 financial and operating results \n\nCALGARY, May 1 /CNW/ - Alternative Fuel Systems (2004) Inc. \n(\"AFS (2004)\" or the \"Company\") (TSX Venture: AFX) announced today the\nCompany's financial and operating results for the year ended \nDecember 31, 2005. President and CEO Jim Perry stated that \"we are delighted\nto report that the Company achieved a small positive cash flow from operations\nfor the last half of the year, compared to negative cash flow from operations\nof $181,000 in the same period of 2004. Our new business model is beginning to\nshow results. We are concentrating on developing revenue from our key skills\nin electronics and fuel systems components. We have de-emphasized projects\nwhere customers ask for free engineering up-front, with promises of revenue in\nfuture if the work is successful. In past, the Company spent considerable\nresources on projects that unfortunately never came to fruition. Now, we only\nundertake work where the customer has the confidence to pay for engineering as\nit is done.\"\nFor the year ended December 31, 2005, the Company recognized revenue of\n$2,293,360 from sales to clients primarily in Europe, the U.S. and Asia. AFS\n(2004) recorded a net loss of $194,000 ($.01 per share) during the year with a\nsmall negative cash flow from operations. Revenue for the six months ended\nDecember 31, 2004 totaled $1,049,684 and the net loss for this period was\n$279,065. AFS (2004) began operations on June 30, 2004, so only six months of\nresults are available for that year.\n\nManagement's Discussion and Analysis (\"MD&A\")\nBelow is Management's discussion and analysis of financial results for\nthe year ended December 31, 2005 and the six-month period ended \nDecember 31, 2004.\n\n>\n\n\n","length":20740,"tagName":"div"}]