Hoku Scientific Inc. continued to struggle financially during the April-to-June period, reporting its 10th loss in the past 11 quarters.

The Honolulu-based clean-energies technology company reported a $904,000 loss during the quarter, far outstripping its $74,000 in revenue.

Hoku's recent losses have compiled as it transitions from its original focus of fuel-cell technology to photovoltaic system installation and the building of a $390 million polysilicon plant in Idaho. Most of the company's sales have come from its photovoltaic business in Hawai'i.

The loss compared with a profit of $178,000 on revenue of $2.2 million a year earlier.

"We continued to make progress in our solar and polysilicon businesses during the first quarter of fiscal 2010," said Dustin Shindo, Hoku chairman, president and chief executive officer, in a press statement.

Hoku reiterated its efforts to obtain the remaining $106 million to $121 million of financing needed to complete its plant, which will produce a material used in cells of photovoltaic panels.

It said it has identified a number of potential sources for the money but that evaluating all of its options and negotiating a deal may take several months.

"As a result, we decided to take the prudent course of slowing down construction and procurement activities to reduce our cash outflow, at least until we have better visibility on the sources and timing of receipt for the remaining funds," Shindo said, explaining that the company will continue with training for a group of plant operators.

In the meantime, the company has slowed construction on the Idaho facility and also retained Deutsche Bank Securities to look at a possible sale or merger options for Hoku.

Hoku, which last month noted that the cash crunch could force it to close its doors or delay completing the plant if more financing isn't available, reported cash and cash equivalents of $12.3 million, down $5 million from the end of March.

It also reported accounts payable and accrued expenses of $48.6 million, up about $10 million over the prior quarter.