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Northeast Biofuels' net loss narrows to $5.57 million in May period
By Caroline Salls
Pittsburgh, June 24 - Northeast Biofuels, LP reported a $5.57 million net loss for May on zero revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Northern District of New York.
In comparison, the company posted a $5.77 million net loss in April on $407,775 in revenues.
The company had $4.8 million in cash and cash equivalents at May 31, down from $5.24 million at the end of April.
Northeast Biofuels filed for bankruptcy on Jan. 14, 2009. Its Chapter 11 case number is 09-30057.
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