Updates & Insights on Location Based Technologies Inc (OTCMKTS:LBAS)

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Las Vegas, NV -- (SBWIRE) -- 12/09/2013 -- Location Based Technologies Inc (OTCMKTS:LBAS) announced the third quarter financial report for period ended August 31, 2013. The company generated almost half the revenues it earned during second quarter of year.

LBAS earned $0.36 million revenues and paid $1.44 million cost of revenues. The company had gross loss of $1.07 million and operating loss of $2.21 million. The selling general and administrative expense decreased to $0.93 million from $1.83 million. LBAS suffered from a net quarter loss of $3.09 million.

Location Based Technologies, Inc. deals in telecommunications technologies like locators for things and people, e.g. PocketFinder People, PocketFinder Pets and PocketFinder Vehicles. LBT is innovative and develops latest technologies that organizations and people are looking for. This is the reason the company is successful in attracting big clients.

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