Orbite Technologies Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, net loss increased by CAD 1.9 million to CAD 2.1 million, or from CAD 0.00 per share to CAD 0.01 per share, as compared to the same period in the prior year. The increase in net loss was due primarily to and decrease in net finance income (non-cash). Cash flows used in operating activities decreased by CAD 0.9 million compared to the same period of 2014. Cash flows used for operations increased by CAD 0.4 million. The increase in cash flows used for operations during the quarter is due mainly to HPA Plant operations. Loss before net finance income and taxes was CAD 2.5 million as compared to CAD 2.4 million for the same period in 2014. The company is a development stage company and has no revenues.

For the nine months, net loss decreased from CAD 8.9 million to CAD 8.6 million. Cash flows used in operating activities decreased by CAD 4.0 million compared to the same period of 2014. Cash flows used for operations decreased by CAD 0.2 million. The decrease in cash flows used for operations for the nine-month period ended September 30, 2015 is due mainly to reduction in general and administrative expenses partially offset by an increase in HPA plant operations.