US Oil Sands Inc. announced earnings results for the fourth quarter and year ended December 31, 2015. For the year, the company reported cash used in operations of CAD 6,990,217 against CAD 5,890,390 a year ago. Net income was CAD 168,171 against net loss of CAD 4,913,417 a year ago.

For the fourth quarter of 2015, the company had a net loss of CAD 1,153,096 compared to CAD 236,456 for the same period in 2014. The increased loss is attributable to the higher staff count in 2015, associated with the construction of and anticipation of operating the Project.