Sustainable Energy Technologies Ltd. announced earnings results for the year ended September 30, 2012. For the year, the company announced net loss of $5,318,365 compared to $6,692,891 in 2011, a decrease of $1,374,526 (or 20.5%). Adjusting for non-cash items the net loss was reduced by $2,430,655 to $3,031,487 (or 44.5%) compared to $5,462,142 in 2011.

Cash flow used in operations was reduced 76% to $1,601,842 compared to $6,713,772 in 2011. Sales revenues were $3,313,134 compared to $3,867,910 for the year in 2011 a decrease of 14%. The reduction was attributable almost entirely to the moratorium on new solar projects imposed by the Ontario government immediately following its re-election on October 6, 2011 and reduced sales to tenKsolar.