Message #18 From:
Stock News Bot Date: September 18, 2009 08:40:19 AM
MMGW Stock News, Mass Megawatts Reports Results for Fiscal Quarter Ended July 31, 2009
WORCESTER,
Mass., Sept. 18 /PRNewswire-FirstCall/ -- Mass Megawatts Wind Power,
Inc. (OTC Bulletin Board: MMGW) reports a net loss of $131,558 or two
cents per share in the first quarter ending July 31, 2009. In the same
period last year, Mass Megawatts reported a net loss of $273,483 or
five cents per share for the quarter ending July 31, 2008.
Over
the past few months, Mass Megawatts has continued to focus on preparing
to commercialize the technologies for its Augmenter System, Furling
System, and Controller. The newest version of the Augmenter is an
improvement of methods to increase wind velocity, leading to a
substantial increase in energy produced. At the same time, the
Company's development path has reduced production costs on the
technology.
The tasking that Mass Megawatts assigned to
the development team over the past year has been to take the Mass
Megawatts paradigm of driving down production costs while increasing
the combined technologies' productivity.
In the past 12
months, the wind industry achieved a growth rate of more than 37
percent in the USA. In recent years, more than $7 billion was invested
in new wind power plants worldwide.
This press release
contains forward-looking statements that could be affected by risks and
uncertainties, including but not limited to Mass Megawatts Wind Power,
Inc.'s ability to produce a cost-effective wind energy conversion
device. Among the factors that could cause actual events to differ
materially from those indicated herein are: the failure of Mass
Megawatts Wind Power, Inc. to achieve or maintain necessary zoning
approvals with respect to the location of its MAT power developments;
the ability to remain competitive; to finance the marketing and sales
of its electricity; general economic conditions; and other risk factors
detailed in periodic reports filed by Mass Megawatts Wind Power, Inc.
