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.