Business
VRB Power reports Q3 2007 financial results
RICHMOND, BC, Nov. 27 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB) today reported its financial re...
About this update from Novo Resources Corp.
[{"type":"text","content":"\n\n\n\nRICHMOND, BC, Nov. 27 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB) today\nreported its financial results for the nine month period ended September 30,\n2007.\n\n\nThe following is a summary of the key points for the period, updated to\nNovember 21, 2007\n\n\n(Note - all dollars Canadian)\n\n\n- Sales revenue and other income was $411,548 for the six months\n compared to $226,842 for the comparative period in 2006;\n- Operating expenses were $10,178,769 for the period compared to\n $7,765,330 for the comparative period in 2006;\n- Net loss of $9,767,221 for the period ($0.07 per share) compared to\n $7,538,488 ($0.07 per share) for the comparative period in 2006;\n- In November 2007, VRB announced that Winafrique Technologies Ltd.,\n with Safaricom Limited, the leading mobile telephone operator in\n Kenya purchased two 5kW x 4hr VRB Energy Storage Systems ("VRB-ESS")\n to be deployed at two remote telecommunications sites in Kenya owned\n by Telkom Kenya and Vodafone Group Plc. The sale marks the initial\n phase for a potential roll out of multiple systems at cellular\n telecommunications sites across East Africa, with 300 possible sites\n identified in Kenya alone;\n- In conjunction with the sale, VRB Power signed a distribution\n agreement with Winafrique for the 5kW VRB-ESS in Kenya. Under the\n terms of the agreement, Winafrique will sell, install and integrate\n the systems at the chosen cellular sites; monitor and service the\n systems once installed and also provide some of the electrical\n components.\n- In addition to its internal sales team, the Company now has sales\n representatives in North America, India, Europe (covering territories\n of Denmark, Slovenia, Hungary, Italy, Albania, Malta, Czech Republic\n and Portugal) and Kenya;\n- In November 2007, the Company partnered with Sartelco Energia Srl to\n showcase the 5kW VRB-ESS(TM) at the World Energy Congress 2007 (WEC)\n in Rome, Italy. The WEC is held every three years and is recognised\n as the world's premier multi-energy event with over 5,000 delegates\n from 100 countries;\n- In October 2007, the Company consolidated its offices and moved its\n headquarters from downtown Vancouver to the second floor of the VRB\n Richmond Facility; and\n- Within the last period, VRB Power Systems was featured in several\n media publications including Renewable...