VIASPACE Inc. (VSPC.OB) reported its financial results for the quarter ended March 31, 2007.
Revenue for the first quarter of 2007 was $239,000, as compared with $113,000 in the same quarter of 2006, an increase of $126,000. Gross profit for the first quarter of 2007 was $36,000 compared with $8,000 for the comparable quarter of 2006.
Commenting on first quarter results, Dr. Carl Kukkonen, CEO of VIASPACE said, “We believe that the restructuring of the convertible debenture completed in March 2007 into common stock is favorable to the Company as it removes debt from our balance sheet and converts it to stockholders’ equity.”
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