OneRoof Energy Group, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Impairments for the Third Quarter Ended September 30, 2014
For the nine months period, the company reported total revenue of USD 5,213,113 against USD 529,308 a year ago. Loss before provision for income taxes was USD 25,650,376 against USD 30,148,709 a year ago. Net loss attributable to common shareholders was USD 26,064,309 or USD 0.83 per basic and diluted share against USD 27,562,819 or USD 7.90 per basic and diluted share a year ago. Net cash used in operating activities was USD 39,191,415 against USD 19,451,099 a year ago. Purchase of property and equipment was USD 97,187 against USD 5,451 a year ago. Software development costs were USD 410,511.
For the quarter, the company reported impairment of held systems of USD 14,336 and impairment of inventory of USD 184,553.