BassDrill Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2011
BassDrill Ltd. announced audited consolidated earnings results for the year ended December 31, 2011. For the year, the company reported total revenues of $2,541,163 against $2,294,806 a year ago. Loss from operations was $3,057,113 against $1,243,621 a year ago. Loss before equity in loss of affiliate was $2,910,394 against $1,631,935 a year ago. Net loss was $4,615,740 against $2,244,927 a year ago. Basic and diluted loss per share was $0.13 against $0.82 a year ago. Net cash used in operating activities was $3,365,964 against $578,484 a year ago. Cash paid for furniture, equipment and leasehold improvements was $198,541 against $117,723 a year ago. Cash paid for construction in progress improvements was $40,515,770 against $334,683 a year ago.