Justice Sirikah

Zenn Motor Company Inc. (TSX VENTURE: ZNN) Posts Q2 Loss on Global Auto Industry Depression

by Justice Sirikah May 28, 2009
znn_logo.pngCanada-based electric minicar maker, Zenn Motor Company Inc. (TSX VENTURE: ZNN) yesterday reported a fiscal second quarter loss that reflects the general depression manifest in the worldwide automobile industry.

  Zenn, which stands for Zero Emission No Noise, referring to its famed low-speed and short-range electric powered vehicles, saw its net loss for the period ended March 31 reaching $2 million ($0.06 per share), as compared to a net loss of $1.8 million ($0.06 per share) registered in the corresponding quarter of 2008.

  The company’s revenue for the January-March business period backed down 47 percent to $276 million from $646,722 in the fiscal second quarter of a year ago. The low turnover in revenue represents the decline in the automaker’s sales in accord with the slack vehicle markets across the board.

  However, on a positive note Zenn remarked that its strong balance sheet came in handy during the period as it allowed further significant investments in a number of key areas. This included the development of the ZENNergy (TM) drivetrain and cityZENN(TM) projects, which according to the company CEO, Ian Clifford “are integral parts of the company’s strategy”.

  Meanwhile Zenn announced an additional investment of $700,000 in its U.S advanced battery manufacturing partner, EEStor. The agreement also gives Zenn an option to buy out 10 percent of the EEStor, up from the previous 3.8 percent, but on condition that the later delivers production quality energy storage solutions for small vehicles.

  Shares of Zenn were at $4.95 on the TSX Venture market during the lunchtime trading.

Comments 17793

1. Guest
October 21, 2018, 08:51AM

Quotes cbd oil canada cbd for dogs where to buy cbd oil near me cbd oil in canada | [url=https://cbdonline2018.com/]what is cbd oil benefits[/url] [url=https://cbdonline2018.com/]cannabidiol[/url]

2. Guest
October 21, 2018, 08:24AM

Quotes casino vegas world play real casino slots free gsn casino games free casino slots games | [url=https://vegascasinogames.icu/]vegas casino slots[/url] [url=https://vegascasinogames.icu/]free slots 777[/url]

3. Guest
October 21, 2018, 08:24AM

Quotes play casino games for cash lady luck casino free games 100 best usa casinos with best codes pala casino online | [url=https://casinogamesplay.icu/]cafe casino online[/url] [url=https://casinogamesplay.icu/]free coins slotomania[/url]

4. Guest
October 21, 2018, 08:21AM

Quotes empire city casino online free 50 lions free slots us online casinos for real money casino bonus | [url=https://casinovegas.icu/]hyper casinos[/url] [url=https://casinovegas.icu/]gsn casino[/url]

5. Guest
October 21, 2018, 08:15AM

Quotes can play zone casino free free las vegas slot machines virgin online casino bigfish casino online games | [url=https://onlinecasinoo.ooo/]play casino games for free[/url] [url=https://onlinecasinoo.ooo/]atari vegas world free slots[/url]

6. Guest
October 21, 2018, 08:13AM

Quotes charlottes web cbd oil koi cbd cbd oil australia how to use cbd oil | [url=https://buy-cbd.ooo/]buy cbd oil for dogs[/url] [url=https://buy-cbd.ooo/]leafwize cbd oil[/url]

7. Guest
October 21, 2018, 08:12AM

Quotes cbd oil for pain pure kana cbd oil buy cbd oil uk does walgreens sell cbd oil | [url=https://buy-cbd.icu/]cv sciences cbd oil[/url] [url=https://buy-cbd.icu/]walmart cbd oil for pain[/url]

8. Guest
October 21, 2018, 07:57AM

Quotes pala casino online best casino slot games no deposit bonus codes for usa players free slot games with no download | [url=https://cbdonline2018.com/]winstar world casino[/url] [url=https://cbdonline2018.com/]free casino blackjack games[/url]

9. Guest
October 21, 2018, 07:48AM

Quotes cbd store strongest cbd oil for sale does cbd oil show up on drug test cbd oil dogs | [url=https://cbdonline2019.com/]the cbd store[/url] [url=https://cbdonline2019.com/]walgreens cbd oil[/url]

10. Guest
October 21, 2018, 07:23AM

Quotes rock n cash casino slots foxwoods online casino vegas slots online play lady luck online | [url=https://onlinecasinodd.com/]all free slots[/url] [url=https://onlinecasinodd.com/]hollywood casino[/url]

11. Guest
October 21, 2018, 06:27AM

Quotes high 5 casino biggest no deposit welcome bonus free slot games free casino slot games | [url=https://onlinecasinodd.com/]free casino for fun only[/url] [url=https://onlinecasinodd.com/]free slots 777[/url]

12. Guest
October 21, 2018, 06:24AM

Quotes cbd side effects cbd canada reddit cbd charlottes web cbd oil | [url=https://cbdoilstore.ooo/]cbd online[/url] [url=https://cbdoilstore.ooo/]best cbd oil 2018[/url]

13. Guest
October 21, 2018, 06:21AM

Quotes best place to gamble in vegas free casino games vegas world online casino no deposit free welcome bonus list of online casinos for us players | [url=https://freecasinogames.ooo/]free slots just for fun no money[/url] [url=https://freecasinogames.ooo/]vegas casino games[/url]

14. Guest
October 21, 2018, 05:55AM

Quotes shingles recovery time after valtrex, cheap valtrex
valtrex generic, [url=https://buyvaltrex.icu/]valtrex dosing[/url]

15. Guest
October 21, 2018, 05:48AM

Quotes casinos near my location virgin casino online vegas casino games slots free us online casinos for real money | [url=https://onlinecasinodd.com/]play free mr cashman slots[/url] [url=https://onlinecasinodd.com/]play casino games for free[/url]

16. Guest
October 21, 2018, 05:38AM

Quotes cbdistillery buy cbd oil green roads cbd cwhempcbdoil | [url=https://buy-cbd.icu/]reddit cbd[/url] [url=https://buy-cbd.icu/]cbd clinic products[/url]

17. Guest
October 21, 2018, 05:25AM

Quotes hemp oil vs cbd oil cbd hemp oil cbd benefits cbd oil legal | [url=https://cbdonline2018.com/]cbd oil scam[/url] [url=https://cbdonline2018.com/]where to buy cbd oil[/url]

18. Guest
October 21, 2018, 05:06AM

Quotes free casino games slots vegas slots casino best online casino free online casino games vegas | [url=https://playcasinovegas.icu/]online casinos for us players[/url] [url=https://playcasinovegas.icu/]casino near me[/url]

19. Guest
October 21, 2018, 05:06AM

Quotes vegas casino free slot games play casino games for free slots games vegas world play free win real cash | [url=https://onlinecasinodd.com/]hyper casinos[/url] [url=https://onlinecasinodd.com/]sizzling 777 slots free online[/url]

20. Guest
October 21, 2018, 04:58AM

Quotes generic brand valtrex, valtrex for cold sores
valtrex for cold sores - [url=https://buyvaltrex.icu/]valtrex manufacturer coupon[/url]

Type the characters that you see in the box (5 characters).