Hope the reserves last until they start making a profit.  Shareholder equity .55/share?

Craig Wireless announces first quarter financial results

Monday, January 14, 2013

RANCHO MIRAGE, CA, Jan. 14, 2013/CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG), today released its financial results for first quarter ended November 30, 2012. All dollar figures are reported in Canadian currency.

Consolidated Results

During the quarter, on September 24, 2012, the Company acquired from treasury additional common shares of Woosh Wireless Holdings Limited increasing the Company's equity ownership of Woosh Wireless Holdings Limited from 51% to 75%.

Including the recently acquired Woosh Wireless Holdings Limited, revenues were {C}$3,485,965{C} during the quarter ended {C}November 30{C}, 2012. Total assets amounted to {C}$30,807,200{C} and total shareholders' equity was $25,941,414at the quarter end. The Company reported a net loss attributable to shareholders of $2,344,633($0.05per share) for the quarter ended November 30, 2012. As at November 30, 2012the Company had cash reserves of approximately $5.8 million.