Mustang Geothermal Corp. of Reno lost $2 million in the fourth quarter of 2010, compared with a loss of $85,482 in the comparable quarter a year earlier.
The publicly held company, which recently changed its focus from uranium exploration to geothermal, hasn't posted any revenue since its inception in 2002.
Separately, the company said it hired PLS CPA of San Diego as its auditor.
Jewett Schwartz & Wolfe & Associates of Hollywood, Fla., was dismissed as Mustang's auditor in June.
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