Excluding non-cash charges, our Q3 2011 non-GAAP operating loss totaled $1.1 million or $0.06 per basic and diluted share, compared to a non-GAAP operating loss of $1.1 million or $0.06 per basic and diluted share in the previous quarter and a non-GAAP operating loss of $1 million or $0.06 per basic and diluted share in Q3 of 2010. Our GAAP expenses for the third quarter of 2011 totaled $2.5 million sequentially down $300,000 from $2.8 million from the previous quarter and down approximately $200,000 from $2.7 million from the same period in the prior year.
We continued to diligently manage our expenses focusing on achieving a breakeven non-GAAP EBITDA quarter. Now turning to the balance sheet, our networking capital position was $3.5 million at the end of the third quarter compared to $4.6 million at June 30, 2011. Our overall cash, cash equivalents and restricted cash totaled $4.3 million, up approximately $400,000 from previous quarter.