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 $25,941,414 at the quarter end. The Company reported a net loss attributable to shareholders of $2,344,633 ( $0.05 per share) for the quarter ended November 30 , 2012. As at November 30, 2012 the Company had cash reserves of approximately $5.8 million .