The profit compared to a loss of $390,863 in the year-earlier quarter.

Product revenue was $33,121, down from $78,369 for the corresponding quarter of the previous year.

“Plaintree continues to investigate sources of financing,” the company said.

“However, if the company is not successful in obtaining the necessary funding, continuation of the existing business may not be viable.”

Plaintree designs, develops and manufactures optical wireless technology. The small company is based in Arnprior, Ont., and had revenues of only $1.1 million last year and lost just under $2 million for the period.

Its shares were delisted from the Toronto Stock Exchange last September for failure to meet continued listing requirements and now trade on the over-the-counter bulletin board.