Eternal Energy Corp. Reduces its First Quarter 2008 Losses (PR Newswire)

Tuesday August 12, 9:45 am ET LITTLETON, Colo., Aug. 12 /PRNewswire-FirstCall/ -- Eternal Energy Corp. (OTC Bulletin Board: EERG; the "Company") announced today that it has amended its first quarter 2008 Form 10-QSB to include restated financial statements for the period. The amended 10-QSB correctly states the Company's accrued expenses as of March 31, 2008 and net loss for the period, which had been previously inadvertently overstated due to an accounting error. Restated net losses for the three-month period ended March 31, 2008 totalled $232,718, compared to previously reported losses of $358,712, an improvement of $125,994. The restatement does not result in a change to net loss per share for the first quarter of 2008 from what was previously reported. As of March 31, 2008, the Company had restated accrued expenses... [read full story]