Ake Paulsson, CEO presented a loss of 0.7 million Swedish Krona for the first half of 2011. Net sales for the period 2.3 million. The problems of EcoRub AB are growing as accumulated losses for 2010 and the first half of 2011 reach 3.6 million Swedish Krona. Because of the problems have EcoRub shares share prices dropped sharply to 2.7 SEK, which is only 50% of the maximum share value at the
beginning of the year.

Here are some financial results according to the financial data on Ecorub AB available from Swedish financial information (Upplysnings Centralen) www.allabolag.se.

Ecorub AB financial results for 2008 were also in the red (losses 1,4 million Swedish Krona). For the 2009 the result was slightly positiv (0.15 million Swedish Krona).

Accumulated losses for 2008 - first half of 2011 are 4.9 million Swedish Krona.

As Ecorub is keep losing money and losses to the company grow shareholders have to put more monet into the company to keep it alive. An earlier press-release (in Swedish - EcoRub: Kommuniké från årsstämma) announced that Ecorub AB is going to issue 2.3 million new shares to refinance  the company.

The question is - is refinancing the way to save the company?