WINNIPEG – Craig Wireless reported a net loss of just over $4 million for its first quarter of Fiscal 2010.
Revenue from its Manitoba and British Columbia pre-WiMAX legacy operation declined from $404,636 in the fourth quarter ended August 31, to $383,720 in the first quarter ended November 30, 2009.
The company is continuing to wind down its legacy pre-WiMAX operations in Winnipeg and Vancouver in preparation for the launch of its new WiMAX networks in Vancouver and Palm Springs, California.
Craig also announced a new financing in a $1.5 million loan from Manalta Investment Company Ltd., a company controlled by T. Boyd Craig and J. Drew Craig.
"We continue to be excited about the current markets in which the Company operates”, said T. Boyd Craig, in a statement. “The Loan from Manalta underscores our continued commitment to the Company and to the development of its spectrum assets and 4G strategy".
