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Moxian fiscal Q2 loss widens YOY

Moxian Inc. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of $1.7 million, compared with a loss of $725,150 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue decreased 67.5% year over year to $7,360 from $22,660, and total operating expenses rose 96.0% from the prior-year period to $2.3 million from $1.2 million.

Reported net income came to a loss of $2.7 million, or a loss of 3 cents per share, compared to a loss of $1.2 million, or a loss of 1 cents per share, in the prior-year period.