W2 Energy Files 10-Q; Records First Revenue |
TORONTO, Jun 11, 2009 - W2 Energy, Inc. (PINKSHEETS: WTWO), a sustainable energy company, is pleased to announce that it has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2009.
Michael McLaren, CEO, is pleased to report that W2 Energy has filed its 10-Q for first quarter of 2009 with its first recorded revenue. W2 Energy recorded the $100,000.00 payment required to initiate the licensing agreement with Alpha Renewable Energy of Atlanta, Georgia. The company continues to focus on meeting the requirements of the agreement in order to realize on the follow-on payments required therein.
The company also notes that its losses dropped significantly from the previous quarter as it begins to execute on various agreements.
Finally, the company notes the significant increase in assets on its balance sheet from the previous quarter due to the purchase of the PAG and PARCON technologies.
About W2 Energy
W2 Energy trades in the United States on the OTC under the symbol "WTWO." For further information, please contact Mike McLaren at (519) 341 3185 or w2energy.com.