The Registrant's business changed substantially in November 2008, when it sold substantially all of the assets of its tire recycling operations for approximately $27.9 million in cash. Because the tire recycling assets were operated during only a portion of fiscal 2009, their respective assets, liabilities and results of operations have been classified as discontinued operations for all periods to be presented in the form 10K for the fiscal year ended September 30, 2010. The Registrant recognized a gain on sale of approximately $13.8 million, net of estimated taxes of approximately $6.1 million which is included in gain on sale of discontinued operations. The Registrant's current operations are comprised of two business segments, the molded recycled rubber products operations (Green Tech Products, Inc.); and the dual fuel conversion operations (American Power Group, Inc.) which are included since July 2009 when they were acquired.
Revenues for the fiscal year ended September 30, 2010 decreased approximately $.58 million to $2.65 million as compared to approximately $3.23 million for the fiscal year ended September 30, 2009. The decrease is attributable to lower playground tile and equipment sales in the Midwestern region of the United States. This decrease was offset by approximately $336,000 of revenue associated with our American Power Group dual fuel subsidiary.
The Registrant anticipates reporting a net loss from continuing operations of approximately $5.8 million and income from discontinued operations, net of taxes of approximately $.15 million for the fiscal year ended September 30, 2010. This is in comparison to a net loss from continuing operations of approximately $6.1 million and income from discontinued operations, net of taxes ($6.1 million) of approximately $14.1 million for the fiscal year ended September 30, 2008.
In addition, as a result of the operating losses incurred during fiscal 2010, the Registrant anticipates reporting working capital of approximately $.7 million at September 30, 2010 as compared to a working capital of approximately $5.5 million at September 30, 2009.