| Entech Solar, Inc. today announced its financial results for the three and six months ended June 30, 2010. For the three months ended June 30, 2010, the Company's revenues were $30 thousand, compared to $150 thousand for the comparable period in 2009. The Company's gross profit for the three months ended June 30, 2010 was $15 thousand, compared to a gross profit of $11 thousand for the three months ended June 30, 2009. Entech Solar's net loss attributable to common shareholders for three months ended June 30, 2010 was $4.7 million, or $(0.01) per share, compared to a net loss of $4.3 million, or $(0.02) per share, for the comparable period in 2009. As of June 30, 2010, the Company's cash and cash equivalents were $3.3 million. For the six months ended June 30, 2010, the Company's revenues were $45 thousand, compared to $2.1 million for the comparable period in 2009. The Company's gross profit for the six months ended June 30, 2010 was $0, compared to a gross loss of $6.4 million for the six months ended June 30, 2009. Entech Solar's net loss attributable to common shareholders for six months ended June 30, 2010 was $11.0 million, or $(0.04) per share, compared to a net loss of $20.3 million, or $(0.09) per share, for the comparable period in 2009 Since December 31, 2009, we have entered into additional preferred and common stock purchase agreements with The Quercus Trust for an aggregate of $7.0 million. The Quercus Trust is our principal shareholder. David Gelbaum, trustee of The Quercus Trust, is our Chief Executive Officer and Chairman. |
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