Discovery Energy Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2017
Discovery Energy Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2017. For the quarter, the company reported operating loss of $365,346 compared to $553,537 a year ago. Net loss was $8,739,895 or $0.06 per basic and diluted share compared to $224,145 or $0.00 per basic and diluted share a year ago.
For the nine months, the company reported operating loss of $1,208,767 compared to $3,362,598 a year ago. Net loss was $8,105,945 or $0.06 per basic and diluted share compared to $7,750,728 or $0.06 per basic and diluted share a year ago. Net cash used in operating activities was $1,358,908 compared to $3,493,220 a year ago. Cash paid for interest in unproved oil and gas properties was $187,500.