Despite mounting losses, Telehop eyes expansion

TORONTO – Telehop’s struggles continue after it reporting a second quarter net loss more than double that recorded in the same period last year.The long distance provider said that despite revenues of $2.65 million for the quarter ended June 30th, its net loss was $149,901, compared with $62,991 in 2010. Its gross margin was $1.17 million, or 44.3% compared to $1.30 million or 42.5% for the same quarter last year.During the first half of 2011, Telehop’s financials reflected the following non-operational and non-recurring events:- Increased costs in the amount of $71,618 as a result of a dissident shareholder proxy challenge;- Incurred $14,730...