09:53 AM EST - Kirrin Resources Inc. : reported a plunge in second-quarter net income to $218,000 from a restated income of $434,000 in the 2008 period, as a result of settling outstanding contractual matters in relation to the disposal of a subsidiary company in the second quarter of 2008. Second-quarter general and administration expenses decreased 37% to $146,000 from $230,000 last year, excluding stock based compensation expense. The Company also said it had a negative working capital of $93,000 compared with a positive $1,800,000 in 2008. Kirrin Resources Inc.
shares V.KYM are trading even at $0.12.
