Toisa posts $11.94 million September net loss; net revenue declines

By Caroline Salls

Pittsburgh, Nov. 3 – Toisa Ltd. reported an $11.94 million net loss for September on $5.02 million in net revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures showed a decline from the $985,931 of net income posted for August on $5.53 million in net revenue.

Unrestricted cash at the end of the month was $47.68 million, down from $50.08 million at the end of August.

Toisa is a Hamilton, Bermuda-based shipping business. The company filed for bankruptcy on Jan. 29, 2017 under Chapter 11 case number 17-10184.

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