GreenHunter Energy Inc (GRH, Financial) filed Quarterly Report for the period ended 2011-03-31.
Greenhunter Energy Inc. has a market cap of $19.02 million; its shares were traded at around $0.86 with and P/S ratio of 3.28.
BioMass SG&A was approximately $65 thousand during the 2011 period versus a credit of approximately $474 thousand during the 2010 period. The increase is due to $588 thousand of cancelled consultant fees recorded in the three months ended March 31, 2010.
Our BioMass segment generated operating losses of $65 thousand during 2011 and income of $474 thousand during 2010. The decrease is due to the $588 thousand of cancelled consultant fees recorded in the three months ended March 31, 2010.
Our unallocated corporate operating loss was $1.1 million for the 2011 period, compared to operating loss of $1.6 million during the 2010 period. The decrease in loss resulted from decreased SG&A expenses described above.
As of March 31, 2011, we had cash and cash equivalents of approximately $22 thousand and a working capital deficit of $7.4 million as compared to cash and cash equivalents of $2.9 million and working capital deficit of $46.9 million as of March 31, 2010. $42.4 million of our working capital deficit at March 31, 2010 was related to assets held in receivership from the BioFuels entity that was subsequently disposed. Changes in our cash and working capital during the quarter ended March 31, 2011 are described below.
During the first three months of 2011, we had no net investing activities. During the first three months of 2010, we had cash flows provided by investing activities of $577 thousand, which was made up of cash provided by a change in restricted cash of $1.9 million partially offset by increase in other assets of $1.2 million and increase in fixed assets of $176 thousand.
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Greenhunter Energy Inc. has a market cap of $19.02 million; its shares were traded at around $0.86 with and P/S ratio of 3.28.
Highlight of Business Operations:
Unallocated corporate SG&A decreased approximately $492 thousand between the two periods, from $1.6 million down to $1.1 million. The decrease is due to a decrease in personnel and related costs including stock compensation expense of approximately $318 thousand, a decrease in office related costs of $59 thousand, and a decrease in professional fees and other general and administrative costs of $25 thousand all due to managements cost reducing initiatives.BioMass SG&A was approximately $65 thousand during the 2011 period versus a credit of approximately $474 thousand during the 2010 period. The increase is due to $588 thousand of cancelled consultant fees recorded in the three months ended March 31, 2010.
Our BioMass segment generated operating losses of $65 thousand during 2011 and income of $474 thousand during 2010. The decrease is due to the $588 thousand of cancelled consultant fees recorded in the three months ended March 31, 2010.
Our unallocated corporate operating loss was $1.1 million for the 2011 period, compared to operating loss of $1.6 million during the 2010 period. The decrease in loss resulted from decreased SG&A expenses described above.
As of March 31, 2011, we had cash and cash equivalents of approximately $22 thousand and a working capital deficit of $7.4 million as compared to cash and cash equivalents of $2.9 million and working capital deficit of $46.9 million as of March 31, 2010. $42.4 million of our working capital deficit at March 31, 2010 was related to assets held in receivership from the BioFuels entity that was subsequently disposed. Changes in our cash and working capital during the quarter ended March 31, 2011 are described below.
During the first three months of 2011, we had no net investing activities. During the first three months of 2010, we had cash flows provided by investing activities of $577 thousand, which was made up of cash provided by a change in restricted cash of $1.9 million partially offset by increase in other assets of $1.2 million and increase in fixed assets of $176 thousand.
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