Todays Alternative Energy Corporation: formerly known as Bio Solutions Manufacturing
Todays Alternative Energy Corporation, formerly known as Bio Solutions Manufacturing, Inc., filed its first quarterly report on June 14, 2010 under its new name. The Company's April 30, 2010 fiscal quarterly report was filed on time and it represents the first quarterly report filed since retaining Frumkin, Lukin & Zaidman CPAs as the Company's independent registered public accounting firm on May 3, 2010. The Company reported a 31% decrease in its net loss from operations for the quarter ended April 30, 2010 as compared to the quarter ended April 30, 2009 and a 21% decrease in its net loss from operations for the six months ended April 30, 2010 as compared to the six months ended April 30, 2010.
Commenting on the announcement, Bio Solutions Manufacturing CEO, David Bennett, said: "We significantly reduced our operating expenses this year compared to last year. The success of our efforts to minimize overhead costs shows in the numbers reported in the Todays Alternative Energy Corporation quarterly report. We look forward to building our business on this more efficient operation."
For the three months ended April 30, 2010 and 2009, the Company reported a net loss from operations of $66,635 and $95,953, respectively. For the three months ended April 30, 2010 and 2009, the Company reported a net loss of $204,636 or $0.01 per share and $238,610 or $0.03 per share, respectively. For the six months ended April 30, 2010 and 2009, the Company reported a net loss from operations of $180,549 and $229,883, respectively. For the six months ended April 30, 2010 and 2009, the Company reported a net loss of $414,241 or $0.02 per share and $388,070 or $0.10 per share, respectively.
Safe Harbor for Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of operating history and experience in the biodiesel market, history of losses, lack of employees, risks in maintaining intellectual property, fluctuations in biodiesel fuel and energy prices, competition from other alternative energy sources, lack of working capital, debt obligations, disputes with the company's distributor and affiliated parties, litigation, general economic conditions in markets in which the company does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.
Todays Alternative Energy Corporation