Feronia Inc. announced audited earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, net loss attributable to company was $4,793,000 or $0.04 per share on revenue of $3,011,000 against net loss attributable to company of $2,097,000 or $0.03 per share on revenue of $878,000 for the corresponding period of last year. Cash used in operating activities was $992,000 against $4,891,000 of previous year period. For the year, net loss attributable to company was $5,714,000 or $0.04 per share on revenue of $7,449,000 against net loss attributable to company of $6,877,000 or $0.09 per share on revenue of $3,905,000 for the prior year. Cash used in operating activities was $13,576,000 against $7,821,000 of previous year. The increase in cash used of $5,755,000 during 2011 is due to the significant investment in working capital during the year. The key objectives for the company in 2012 are: commissioning the palm oil mill at the Yaligimba plantation, thereby enabling the company to harvest all available fruit; completing up to 5,000 ha of re-planting across its oil palm plantations; and proving commercial yields of rice and beans at its arable farming division. The company announced that it has entered into an agreement with Mr. Ravi Sood pursuant to which he will serve as the Executive Chairman of the company. In addition to his existing responsibilities as Founder, Chairman and a director of the company, the duties of Mr. Sood will be expanded to include, among others: working closely with the Chief Executive Officer and the Board on the strategic development of the company and its business; and having primary responsibility for capital market initiatives.