Catch the Wind recognized revenue of US$ 390,000 for the quarter ended March 31, 2011. Revenue for the comparable period in 2010 was nil because Catch the Wind did not have any product sales.
Further, because it operated as a development stage company through mid June 2010, cash receipts from product sales, had there been any, would have been netted against capitalized development costs.Operating expenses for Q1 2011 were US$ 7.9 million, up from US$ 3.2 million for the corresponding period of last year. Catch the Wind recorded a net loss for Q1 2011 of US$ 7.5 million. These compare to a net loss of US$ 3.2 million for the same period of 2010. At March 31, 2011, Catch the Wind had working capital of US$ 2.7 million, including cash and cash equivalents of US$ 3.7 million, compared to working capital of US$ 6.9 million and cash and cash equivalents of US$ 6.8 million for December 31, 2010.
Further, because it operated as a development stage company through mid June 2010, cash receipts from product sales, had there been any, would have been netted against capitalized development costs.Operating expenses for Q1 2011 were US$ 7.9 million, up from US$ 3.2 million for the corresponding period of last year. Catch the Wind recorded a net loss for Q1 2011 of US$ 7.5 million. These compare to a net loss of US$ 3.2 million for the same period of 2010. At March 31, 2011, Catch the Wind had working capital of US$ 2.7 million, including cash and cash equivalents of US$ 3.7 million, compared to working capital of US$ 6.9 million and cash and cash equivalents of US$ 6.8 million for December 31, 2010.
