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Dakota Plains Holdings records $407,553 operating loss for February
New York, March 22 – Dakota Plains Holdings, Inc. reported a $407,553 operating loss for February on $10,600 in operating revenue, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Minnesota.
The operating loss was a little better than January’s $479,041 and the figure for operating revenue was the same.
The net loss for February was $2.19 million, significantly worsened from $280,884 in January.
Contributing to the loss were $863,290 in non-operating expenses and $916,847 in reorganization expenses, mostly legal fees.
Dakota Plains had $913,510 in cash as of Feb. 28, up from 474,606 as of Jan. 31.
Dakota Plains, a midstream energy company based in Wayzata, Minn., filed for bankruptcy on Dec. 20 under Chapter 11 case number 16-43711.
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