Lignol Energy Drops 13% As Posts $1.3 Million Net Loss in Q2
Lignol Energy Corporation (LEC.V) fell sharply to $0.065 by 13% from yesterday's $0.075 close, moving even closer to year low 3 cents, after announcing today that for the three month period ended October 31, 2011, it had a net loss of $1.3 million or $0.03 per share. This compares to a net income of $0.1 million in the same period last year.
The company said the $1.4 million increase in the net loss for the current period arose from a $1.6 million reduction in government and corporate contributions, net of a $0.2 million reduction in expenses.
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