CHANDLER, AZ–(Marketwired – Feb 16, 2015) – AuraSource, Inc. (OTCQB: ARAO) (OTCBB: ARAO), a developer of mineral material beneficiation and hydrocarbon clean fuel technology, reported financial results for the quarter ended December 31, 2014.
During the quarter ended December 31, 2014, AuraSource started shipping processed minerals to its customers which caused revenues to increase significantly.
Revenues for the third quarter were $486,668 as compared to zero in the same quarter the previous year.
General and administrative expenses were $323,872 and $233,437 for the quarter ended December 31, 2014 and 2013, respectively.
Net loss was $225,535 for the third quarter as compared to a net loss of $285,530 for the same quarter the previous year.
AuraSource is focusing on the development and production of environmentally friendly and cost effective industrial energy and mineral feedstock used for industrial applications. Its core technology includes ultrafine grinding and ultrafine separation processes. AuraSource has seven patents issued. AuraSource has filed international PCTs to protect the core intellectual property portfolio internationally.
Due to substantial changes in the world energy markets such as a huge reduction of oil prices, AuraSource adjusted its industrial coal water slurry demonstration plant to process metal ores, silica and other materials. AuraSource continues to develop its technology licensing and contract processing business portfolio both in the U.S. and international markets.
SAFE HARBOR STATEMENT
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. AuraSource has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect AuraSource’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause AuraSource’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. AuraSource undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.