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ARIUS announces first quarter fiscal 2008 financial results
Date:4/11/2008

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Cash provided by (used in):

Operating activities:

Loss for the period (2,584,081) (2,306,695) (35,117,714)

Items not involving cash:

Amortization of:

Facilities and equipment 92,314 81,415 1,371,185

Deferred costs - - 55,055

Leasehold inducements (10,371) (10,372) (66,524)

Loss on disposal of equipment - - 23,532

Write-off of leasehold

improvements - - 86,349

Leasehold inducement - - 89,148

Non-cash stock-based

compensation 170,077 210,584 1,800,678

Accretion of convertible

debentures - - 429,905

Loss on extinguishment of debt - - 782,143

Services received for common

shares - - 400,024

Write-off of investment - - 20,000

Interest expense paid in

common shares - - 140,032

Change in non-cash operating

working capital items (784,438) 671,390 4,279,109

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(3,116,499) (1,353,678) (25,707,078)

Financing activities:

Issue of shares, warrants and

units, net of issuance costs - - 38,281,778

Issuance of convertible bridge

loan, net - - 2,196,619

Repayment of convertible bridge

loan, including costs
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SOURCE ARIUS Research Inc.
Copyright©2008 PR Newswire.
All rights reserved

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