STW Resources Holding Corp Announces Earnings Results for the Fourth Quarter and Full Year of 2014
For the year, revenues increased to $18,608,028 during 2014 from $1,945,631 in 2013. The rapid growth during 2014 with a focus on market share and expansion of services offerings has resulted in increased operating expenses that contributed to the reported net loss of $14,898,378. However, the net loss includes $5,847,310 of non-cash charges relating to the change in the company's derivative liability, stock-based compensation, depreciation, and other non-cash expenses. As such, the company's net loss on a non-GAAP basis, exclusive of these non-cash charges, was $9,058,068.