GACR Trims Losses

Green Automotive Company Corporation (OTC:GACR) yesterday released its Financial Statements and Statement of Operations for the Company’s 1st Quarter ended March 31, 2011 together with its quarterly updated discussion of its operations.

According to information posted this morning on www.otcmarkets.com the Company reported a loss of $202,952 for the quarter ended March 31, 2011 compared to a loss last year of $883,831 for the quarter ended March 31, 2010, an improvement of $680,879 over 2010. The loss resulted in a reduction in the Company’s Stockholders’ Equity of $202,952 but the Company’s Total Assets increased by $225,468 to $1,523,354.

Read the entire news release here.

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