EnSync, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2018
November 12, 2018 at 04:05 pm EST
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EnSync, Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2018. For the quarter, the company reported revenues of $2,738,206 against $2,362,048 a year ago. Loss from operations was $2,847,160 against $4,000,872 a year ago. Loss before benefit for income taxes was $2,854,053 against $3,985,024 a year ago. Net loss attributable to the company was $2,771,694 against $3,891,794 a year ago. Net loss attributable to common shareholders was $2,863,616 against $3,975,071 a year ago. Basic and diluted loss per share was $0.05 against $0.07 a year ago. Net cash used in operating activities was $2,640,010 against $2,792,050 a year ago. Expenditures for property and equipment was $75,430.
EnSync, Inc., doing business as EnSync Energy Systems (EnSync Energy), is focused on distributed energy resource (DER) systems and Internet of energy (IOE) control platforms. EnSync Energy ensures electricity, delivered from an electrical infrastructure that prioritizes the use of all available resources, such as renewables, energy storage and the utility grid. As a project developer, EnSync Energy's distinctive engagement methodology encompasses load analysis, system design consulting, and technical and financial modeling to ensure energy systems are sized and optimized. Its direct current (DC) power control hardware, energy management software, and experience with energy storage technologies positions EnSync Energy to deliver fully integrated systems that provide for design, procurement, commissioning and ongoing operation. In addition to direct system sales, EnSync Energy includes power purchase agreements (PPAs). The Company is on the verge of initiating insolvency proceedings.
ENSYNC, INC. 
