AFTC needs to release this information via a Press Release.
SAMPLE:
Redford, MI - Aug. 18, 2014 /PRNewswire/ -- Alternative Fuel Technology LLC, a wholly owned subsidiary of Alternative Fuel Technologies, Inc. (Pink Sheets: AFTC), announced the results of its second quarter ending June 30, 2014 and provided a Business update for shareholders.
The Company achieved net revenue of $75,778 for the quarter with year-to-date revenue totaling $266,667. The Company reported a net loss of $34,377 for the three months ended June 30, 2014. The Q2 loss is attributed to the receipt of a late payment for an invoice that will not be reflected until next quarter when the loss will be fully reversed. For the six-month period in 2014, the Company reported a net income of $39,164 million. Net cash flow from operations was basically neutral at $-6,998 in the second quarter while year-to-date cash flow from operations remains positive at $86,212.
Reported separating, the company announced the subcontractor work they have been doing for a major military defense company involving the modification of an aircraft fuel injection system that operates on JP-8 continues. The primary contractor has asked AFTC to develop numerous iterations of an improved pump. Thus far, they have considered many of the prototypes to be successful. AFTC is currently producing 8 more variations. After these are assembled and tested, the major military defense company will choose one pump for manufacture. AFTC has been requested to quote an initial contract to manufacture 100 pumps. They have also asked AFTC to quote an option for an additional 150, which could bring total production to 250 pumps. AFTC is optimistic that it will receive this contract. However, until then, it cannot name a time frame or any revenue that AFTC might receive from it.
About Alternative Fuel Technologies, Inc (AFTC).
Alternative Fuel Technologies, Inc. is a research & development organization engaged in the design, development and prototype manufacturing of advanced fuel systems for use with a new alternative fuel --dimethyl ether (DME). The Company has developed practical, low-cost fuel injection equipment for DME fueled vehicles and currently provides complete DME fuel systems for testing and research purposes in addition to retrofit systems that can be used with most diesel engines. The Company's ultimate goal is series production of DME fuel systems for the global automotive market. For more information, visit: http://www.altfueltechnology.com
Safe Harbor Statement: Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, acceptance of new or existing businesses, capital resources and future business or financial results are "forward-looking" statements. You should not place undue reliance on these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, customer acceptance of our products, our ability to raise capital to fund our operations, our ability to develop and protect proprietary technology, government regulation, competition in our industry, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.
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