halosource inc - di (HLOUF) Snapshot

HaloSource, Inc. has announced that its HaloKlear Dual Polymer System (DPS) has been added as a reimbursable pay item to a list of construction water treatment Best Management Practices by the Florida Department Of Transportation (FDOT). HaloKlear will be the only all-natural, fully biodegradable polymer to be approved for this designation for use in all applicable FDOT projects. The State of Florida's concern and tangible action in addressing the effects of treatment chemicals on local fish and fauna combined with the FDOT's stringent regulations in this arena provide clear leadership in influencing standards for other states in their approach to construction water remediation. Prior to approval, HaloKlear DPS underwent extensive toxicity testing and site performance reviews. In granting approval, the FDOT recognizes HaloKlear DPS as a safe and effective solution to clear turbid water in its construction project applications for both fresh and salt water. This approval will now allow engineers to easily specify the use of HaloKlear DPS into their water treatment processes during planning for DOT projects. Contractors will be reimbursed for use onsite. Additionally, if turbidity levels are not being met through other treatments, contractors and project managers can now easily deploy HaloKlear DPS on-site to meet the required standards prior to discharging into the environment.

HaloSource, Inc. has announced that the Washington Department of Ecology's General Use Level Designation (GULD) for its HaloKlear Dual Polymer System (DPS). HaloKlear DPS uses all-natural, biodegradable polymers that perform on a wide array of soil types and pH ranges. In contrast to other products on the market, the Dual Polymer System creates dense flocs with great sheer strength and a low water content that settle very quickly. Solids can be efficiently removed from the water column - increasing performance and productivity while keeping costs low. In addition, HaloKlear DPS is extremely flexible with a successful track record in active, passive, and semi-passive deployment. The Washington Department of Ecology (DOE) is recognized as having one of the nation's most stringent testing standards for product approval and influences regulation changes in other key states, including California and Oregon. Prior to approval, the HaloKlear DPS underwent extensive toxicity testing and site performance reviews. In granting GULD approval, the DOE recognized HaloKlear DPS as a safe, effective and cost efficient solution to clear turbid water in construction, mining, and industrial applications. This approval will now allow engineers to easily specify the use of HaloKlear DPS into their water treatment processes whether on construction, dredging or mining operations. The approval also makes it easy for on-site construction and project managers to deploy the Dual Polymer System when turbidity levels are not being met prior to discharging into the environment.

HaloSource, Inc. reported preliminary unaudited consolidated earnings results for the full year ended December 31, 2012. For the period, the company reported net loss of $12,401,000 or $0.14 per basic and diluted share on net revenue was $13,271,000 against net loss of $14,696,000 or $0.20 per basic and diluted share on net revenue was $12,032,000 a year ago. Operating loss was $12,257,000 compared to $14,544,000 a year ago. Loss before income taxes was $12,363,000 compared to $14,652,000 a year ago. Net cash used in operating activities was $11,168,000 compared to $16,232,000 a year ago. Purchase of property and equipment was $991,000 compared to $1,979,000 a year ago. Non-GAAP net loss of $11,736,000 compared to net loss of $13,279,000 a year ago.