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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Solar Thin Films Inc (CE) | USOTC:SLTZ | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
UNIONDALE, NY--(Marketwired - Nov 20, 2013) - Solar Thin Films, Inc. (OTC: SLTZ) (the "Company"), an environmentally conscious company working to bring new products to market with a strong focus on Fiber Reinforced Plastics technology (FRP), waste to energy technology and solar energy, announced today its financial and operating results for the period ended September 30, 2013.
The Company reported revenues in the quarter-ended September 30, 2013 of $950,000, which are the first revenues recorded by the Company since the acquisition of Quality Resource Technologies Inc. ("QRT") on April 30, 2013. The Company also reported profit during the quarter of $549,992, which equates to earnings of $0.01 per share. Revenues and income for the nine months ended September 30, 2013 were $950,000 and $286,147, respectively. The Company ended the quarter with cash on hand and accounts receivable of $55,606 and $900,000, respectively. During the quarter, Total Assets rose by $1,472,302 and Total Liabilities decreased by $3,767,094.
Significant events during the quarter included the following:
James Solano, the Company's Chief Executive Officer, stated, "We have made significant strides this quarter. We believe that we are extremely well positioned to continue to show progress in the coming months. I would personally like to thank our shareholders for the support shown since the acquisition of QRT on April 30 of this year. I truly believe the best is yet to come for Solar Thin Technologies."
About Solar Thin Films, Inc.
Through its subsidiary Quality Resource Technologies, Inc., the Company is focused on developing its business in three areas: (1) developing and manufacturing shipping containers using patented Fiber Reinforced Plastics (FRP) technology, (2) building housing using patented FRP technology and (3) developing waste to energy and solar energy projects which initially will be marketed and sold in the United States and the Caribbean.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein.
Notwithstanding the language set forth in the preceding paragraph, the safe harbor for forward- looking statements under the Private Securities Litigation Reform Act of 1995 is not available for statements made by an issuer of a penny stock.
Investors should review the Company's filings with the OTC Markets including, but not limited to, sections with respect to intellectual property.
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