Avalite cuts $1.98 million net loss by more than half

OTTAWA - Avalite Inc., the former Ramtelecom, recorded a net loss of $344,367 for 2009, a marked improvement from its 2008 net loss of $1.98 million.Revenue for the year ended December 31, 2009 was $7,629. Revenues and expenses for subsidiary R.A. Misener Telecom Corporation were consolidated into the loss from a discontinued operations account, the company said in a statement.Expenses on continuing operations for the year decreased to $243,199 from $1.41 million, while cash flow, excluding non-cash expenditures, was $819,942 for the year, compared to a negative cash flow of $14,414 for the year ended December 31, 2008.After completing the sale of...