LONDON (Thomson Financial) - PolyFuel Inc. posted a narrower full-year net
loss on higher revenues, and said market demand for longer runtime portable
power sources continues to grow.
For the year ended Dec. 31, 2007, the fuel cell membrane manufacturer said
its net loss narrowed to $8.46 million from $9.67 million in the previous year,
while revenues rose to $1.39 million from $184,600.
The company said it reduced overall expenditure levels to significantly
lower than its cash burn rate. Total expenses for the year were down at $10.76
million against $11.02 million the year before.
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