reported a loss of $20,808 or three cents a share for the year ended March 31.

Last year the company reported a loss of $40,130 or six cents per share. Solar Enterprises' main asset is freehold title to 1,375.5 acres of undeveloped land on East Caicos, in the Turks and Caicos Islands.

Total assets were $591,167 down from $613,130 in 1998. Solar trades very lightly, if at all on the BSX. The company's stock last traded at $1.50 on October 22 last year. Income for the financial year was $1,032 compared to $2,082 last year. Total expenses declined to $21,840 from $42,212.

Last year Solar was in talks to unload the property the company has held for 22 years but the deal collapsed with Maryland-based investor Frank Joseph in a private offer for $7.09 million. No reason for the collapse of the deal. The company had about 70 shareholders last year.