Ram reports $4 million first quarter loss

In Nevada, Ram Power, Corp. said its first quarter, ended March 31, 2010, resulted in a loss of $4,038,323 due to a decrease in revenue of $391,119 and an increase in expenses of $3,523,861. The revenue decrease came from their 10 MW Nicaragua project being off-line for two weeks due to continuing construction of the San Jacinto Phase I and II expansions and a 2009 recovery of revenues earned in 2005. The $3,523,861 increase in expenses came primarily from $2,201,138 of compensation expenses related to the company’s stock option grant to its directors and officers in October 2009. Going forward, Ram has 279 MW in development in Nicaragua and Imperial Valley California.