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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 | - |
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 will file its quarterly report on Form 10-Q as soon as such review is complete.
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.
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
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