Published: 03 April 2009 03 April 2009
Catch the Wind is an early stage development company focused on the commercialisation of its Vindicator LWS. The Company, as a result, did not generate any revenue for the fourth quarter or for the year ended December 31, 2008.
Catch the Wind recorded a net loss for the fourth quarter of US$ 1.4 million or US$ 0.04 per share and US$ 2.2 million or US$ 0.08 per share for the full year 2008. The Company’s operating expenses for the fourth quarter were US$ 1.3 million and US$ 2.1 million for the full year 2008. At December 31, 2008, Catch the Wind held cash and cash equivalents of US$ 9.1 million. The Company’s total assets at the end of December 31, 2008 were US$ 12.6 million. Subsequent to year-end, Catch the Wind secured a line of credit from Boston Financial and Equity Corporation and two other equipment lease companies totalling approximately US$ 500,000. The credit lines will be used to finance new equipment purchases.