Earth Biofuels, Inc. (EBOF.OB) announced financial results for the third quarter ending September 30:
— Total revenue of $10.3 million, up from $4.8 million for the two quarters ended June 30, 2006.
— Net income of $3.4 million compared to a loss of $19.3 million for the two quarters ended June 30, 2006.
— aggregate loss of $15.9 million for the 9 month period ended September 30, 2006 includes $16.7 million of non-cash expenses.
— Increase in working capital from negative $5.6 million on December 31, 2005 to positive $14.8 million on September 30, 2006.
— Increase in total shareholder equity from negative $946,971 on December 31, 2005 to positive $70.0 million on September 30, 2006.
Earth Biofuels produces and distributes biodiesel fuel through the company’s network of wholesale and retail outlets. The fuel is sold under Willie Nelson’s brand name, “BioWillie.” The Earth Biofuels also produces and markets liquefied natural gas (LNG).
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