As at December 31, 2008, total assets were $29,430,079, as compared with $20,411,042 for the previous fiscal year 2007. The increase in total assets is primarily because of the injection of funds from the sale of shares as well as an increase in long term investments. These united with amounts generated through operations result in a stronger overall asset position. Included in total assets for 2008 are short term investments accounting $10,632,601 in term deposits and accrued interest compared to $4,700,000 in the previous year. For the year ended December 31, 2008 the company had operating revenue of $4,597,576.
In addition, HTC Purenergy has received $313,530 in project fees in 2008. The net loss after unusual items and income from Equity Investment recorded at the end of 2008, in the amount of $3,759,152 was mainly attributable to the return of EESTech Inc. shares and the re-acquisition of EESTech CO2 Technologies Pty. Ltd., resulting in an unusual loss of $4,717,200. The company had a strong year and was able to realize the objectives it set for itself in the 2007. HTC Purenergy comes out of the year with a stronger Team CO2, new global collaborative partners, increased global brand recognition and recognition as to our capabilities and expanded alliances that will enable HTC Purenergy to not only reach more potential customers but also provide their services and products.
