![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Energy Infrastructure Acquisition Corp. | AMEX:EII | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Energy Infrastructure Acquisition Corp. Announces 2008 Second Quarter Preliminary Financial Results
WILMINGTON, DE -- August 18, 2008 -- Energy Infrastructure Acquisition Corp. (AMEX: EII) (AMEX: EIIW) ("Energy Infrastructure" or the "Company") today announced preliminary financial results for its 2008 second quarter ended June 30, 2008.
For the six months ended June 30, 2008, the Company incurred a net loss of $4,677,917, or $0.17 per share and reported interest income of $1,620,501. For the same period in 2007, the Company reported a net loss of $3,037,171, or $0.11 per share and $3,662,353 of interest income.
The Company is in the process of completing the review of its financial statements for the six months ended June 30, 2008 and expects to complete such review and file its quarterly report on Form 10-Q before the end of August 2008.
About Energy Infrastructure
Energy Infrastructure is a blank check company that was formed for the specific purpose of consummating a business combination. Energy Infrastructure raised net proceeds of approximately $209.3 million, after partial exercise of the underwriter's over-allotment option, through its initial public offering consummated in July 2006.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from results expressed or implied by this press release. The words "believe," "expect," "intend," "estimate," "anticipate," "will," "project," "forecast," "outlook" and similar expressions identify some, but not all, of these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
ENERGY INFRASTRUCTURE ACQUISITION CORP. (a corporation in the development stage) SUMMARY CONDENSED BALANCE SHEETS June 30, December 31, 2008 2007 ------------- ------------- (Unaudited) ASSETS Current assets: Cash $ 52,928 $ 13,933 Money market funds - held in trust 218,290,663 217,023,161 Prepaid expenses 43,667 108,341 ------------- ------------- Total current assets 218,387,258 217,145,435 Deferred acquisition costs 2,592,544 1,065,043 ------------- ------------- Total assets $ 220,979,802 $ 218,210,478 ============= ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 1,171,207 $ 1,150,444 Amounts due to underwriter 2,557,614 2,531,656 Deferred interest on funds held in trust 1,861,279 1,156,315 Accrued interest payable to stockholder 16,395 40,489 Note payable to stockholder 900,000 -- Convertible loans payable to stockholder 2,685,000 2,685,000 ------------- ------------- Total liabilities 9,191,495 7,563,904 ------------- ------------- Common stock subject to possible redemption 64,619,129 64,619,129 Stockholders' equity: Total stockholders' equity 147,169,178 146,027,445 ------------- ------------- Total liabilities and stockholders' equity $ 220,979,802 $ 218,210,478 ============= ============= ENERGY INFRASTRUCTURE ACQUISITION CORP. (a corporation in the development stage) SUMMARY CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, ------------------------- ------------------------- 2008 2007 2008 2007 ------------ ------------ ------------ ------------ Operating expenses $ (3,060,678)$ (3,329,129)$ (6,263,625)$ (6,645,404) Interest income 738,547 1,885,132 1,620,501 3,662,353 Interest expense - stockholder (15,728) (27,177) (34,793) (54,120) ------------ ------------ ------------ ------------ Net loss $ (2,337,859)$ (1,471,174)$ (4,677,917)$ (3,037,171) ============ ============ ============ ============ Net loss per common share - basic and diluted $ (0.09)$ (0.05)$ (0.17)$ (0.11) ============ ============ ============ ============ Weighted average number of common shares outstanding - basic and diluted 27,221,747 27,221,747 27,221,747 27,221,747 ============ ============ ============ ============ Period from August 11, 2005 (Inception) to June 30, 2008 (Cumulative) ------------- Operating expenses $ (25,161,186) Interest income 11,131,293 Interest expense - stockholder (195,204) ------------- Net loss $ (14,225,097) ============= Net loss per common share - basic and diluted $ (0.70) ============= Weighted average number of common shares outstanding - basic and diluted 20,220,826 =============
Contact: Energy Infrastructure Acquisition Corp. 1105 North Market Street, Suite 1300 Wilmington, Delaware 19801 Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel: +1 212 661 7566 Email: nbornozis@capitallink.com www.capitallink.com
1 Year Energy Infrastructure Acquisition Corp. Chart |
1 Month Energy Infrastructure Acquisition Corp. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions