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ARIUS announces fourth quarter and year-end fiscal 2007 financial results

ed costs - 55,055 55,055

Leasehold inducements (41,486) (5,852) (56,153)

Loss/(Gain) on disposal

of equipment - 31,518 23,532

Write-off of leasehold

improvements - - 86,349

Leasehold inducement - 71,095 89,148

Non-cash stock-based

compensation 845,202 593,327 1,630,601

Accretion of convertible

debentures - 396,511 429,905

Loss on extinguishment

of debt - 782,143 782,143

Services received for

common shares - - 400,024

Write-off of investment - - 20,000

Interest expense paid in

common shares - 140,032 140,032

Change in non-cash operating

working capital items 2,881,338 1,016,936 5,063,547


(6,982,272) (3,147,631) (22,590,579)

Financing activities:

Issue of shares, warrants

and units, net of issuance

costs - 24,853,112 38,281,778

Issuance of convertible

bridge loan, net - 2,126,619 2,196,619

Repayment of convertible

bridge loan, including costs - (2,338,886) (2,408,886)

Exercise of compensation

warrants - - 8,581

Draw of bank line of credit - - 655,000

Repayment of bank line of


SOURCE ARIUS Research Inc.
Copyright©2008 PR Newswire.
All rights reserved

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