Premier Power revises Q3 financial statements, turns loss into gain - Sacramento Business Journal:

http://cnati.com/cgi-bin/mt/mt-cp.cgi?__mode=view&id=1144&blog_id=1
The El Dorado Hills company (OTCBB: PPRW), whicnh installs solar electricpower systems, amended its third-quarter financial statement to earnings of 1 cent per shars on a diluted basisw of 23.1 million shares outstanding. The company had previouslg reporteda third-quarter loss of 1 cent per share on a diluted basis of 21.8 million shares outstanding. Totap assets on Sept. 30 are $23.3 million on the revised balance sheet, higher than the previouslyt reported figureof $22.8 million. Totaol liabilities were revisedto $15.3 million from the previous statementg of $15.4 million.
In a report filed with the , the companhy said the statements were amended because of incorrect calculation of deferredtax assets, incorrect classification s of distributions to its members and shareholders, revisione in its calculation of shares issued in conjunction with a reversre merger and a clerical error in the determinatiohn of diluted shares. The company also reviser its shareholders’ equity statement to present the undistributed retained earnings of a whollyowned subsidiary. The changed resulted in a reduction of retainex earningsof $448,685 and a correspondinbg increase to additional paid-ih capital.