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Moxian fiscal Q1 loss widens YOY

Moxian Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of $1.8 million, compared with a loss of $617,040 in the year-earlier period.

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

Total revenue decreased 87.7% year over year to $5,580 from $45,510, and total operating expenses rose year over year to $2.8 million from $1.0 million.

Reported net income totaled a loss of $2.1 million, or a loss of 3 cents per share, compared to a loss of $987,260, or a loss of 1 cents per share, in the prior-year period.