Craig Wireless continues wind down, reports $4M loss for Q1

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...