Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. Westport Energy Holdings Inc. (1102414) 10-Q published on Nov 10, 2015 at 4:08 pm
The increase in net loss was predominately the result of the change in derivative liability, which resulted in a gain of approximately $1,471,000 in the nine months ended September 30, 2014 compared to a gain of approximately $2,554,000 during the nine months ended September 30, 2013. The increase was also attributable to an increase in general and administrative expenses, which increased from $509,000 to $704,000.
Variance in individual expenses included in general and administrative fees and professional fees that constituted greater than 5% of total operating expenses during the nine months ended September 30, 2014 and 2013 are as follows. Mineral rights lease expense decreased from approximately $40,000 during the nine months ended September 30, 2013 to approximately $18,000 during the nine months ended September 30, 2014. Consulting and professional fees increased from approximately $404,000 during the nine months ended September 30, 2013 to approximately $499,000 during the nine months ended September 30, 2014.