Navigation Links
Advance Nanotech Reports First Quarter 2008 Financial Results
Date:5/19/2008

Company reported a net loss of $1.1 million in the three months ended March 31, 2008 compared to a net loss of $2.4 million for the comparable period in 2007, representing a decrease of $1.3 million, or 55 percent. In 2008, the Company had a net loss of $0.03 cents per basic share, compared with a net loss of $0.07 cents per basic share for the same quarter in 2007. Revenue increased by $531,000 while operating expenses decreased by $300,000 and the Company had a gain of $534,000 from minority interest related to subsidiaries' losses.

Operating expenses during the first quarter of 2008 totaled approximately $2.8 million, a decrease of approximately 10 percent over the first quarter of 2007. The Company anticipates further cost reductions over the next several quarters as it completes the anticipated Owlstone exchange agreement that was previously announced and eliminates all redundant operational costs. Additional cost reductions may be achieved as the Company refocuses exclusively on the costs associated with operating its Owlstone business, and relieves itself of any future financial responsibilities associated with the current portfolio of nanotechnologies. As such, the Company anticipates a material operating cost reduction over the next several quarters.

Interest expense incurred during the first quarter of 2008 increased by approximately $146,000 over the first quarter of 2007 to $166,000. The increase in interest expense was due to the issuance of $6.7 million of 8% senior secured convertible notes in December 2007 and February 2008.

Total assets remained essentially unchanged from the prior quarter at $6.0 million as of March 31, 2008. Cash and equivalents on March 31, 2008 were $2.3 million, an increase of approximately $462,000 from December 31, 2007. Total liabilities increased from $11.9 million to $14.6 million during the first quarter of 2008 predominately due to the issuance of $2.7 million of convertible notes during the quarter.
'/>"/>

SOURCE Advance Nanotech, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10

Related biology technology :

1. Advanced BioHealing and Regenesis Biomedical Form Co-Promotion Alliance for Dermagraft(R)
2. Boston Scientific Announces European Approval and Market Launch of New Family of Advanced Pacemakers
3. Advanced Life Sciences Announces First Quarter 2008 Financial Results
4. Battelle Collaborating With Korean Partners to Advance Energy Efficiency and Health and Life Sciences Initiatives in Korea
5. Advanced Life Sciences to Host 2008 First Quarter Financial Results Conference Call and Webcast
6. Regenesis Biomedical Advances Corporate Strategy by Appointing Vice President of Marketing
7. Wyeth and Progenics Receive Positive Opinion From European Committee for RELISTOR for the Treatment of Opioid-Induced Constipation in Advanced-Illness Patients
8. Avastin Used in Combination with Drugs from Bristol-Myers Squibb Has Advantages in Survival Rates Over the Current Sales-Leading Therapy for Advanced Ovarian Cancer
9. Sirion Therapeutics Preclinical Studies: Two New Potential Advances in Treatment of Retinal Diseases to be Presented at ARVO
10. Advanced Life Sciences Regains Compliance With Nasdaq Listing Requirements
11. Human Genome Sciences Advances Oncology Portfolio
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/4/2015)... , May 4, 2015   Intrexon Corporation ... first quarter 2015 financial results after the market closes ... conference call that day at 5:30 PM ET to ... The conference call may be accessed by ... to join the "Intrexon Conference Call."  Participants may also ...
(Date:5/1/2015)... OncoTAb, Inc., a University of North ... Pinku Mukherjee, Ph.D. has received the O. Max ... faculty honor. Mukherjee received the award, which recognizes ... research and development of cancer diagnostics and treatments. , ... in my scientific career,” said Mukherjee, OncoTAb Co-founder and ...
(Date:5/1/2015)... 1, 2015 A new report ... drugs will reach $22.4bn in 2019. That revenue forecast ... and Market Prospects 2015-2025 ,  published in ... is to provide forecasts and qualitative analyses of the ... and consultancy in London, UK . ...
(Date:5/1/2015)... and RESEARCH TRIANGLE PARK, N.C. , ... ) announced today that Roger Jeffs , Ph.D., President ... overview and update on the company,s business at the Deutsche ... Boston, Massachusetts . The presentation will ... Eastern Time, and can be accessed via a live webcast ...
Breaking Biology Technology:Intrexon to Announce First Quarter 2015 Financial Results on Monday, May 11, 2015 2OncoTAb CSO Awarded the University of North Carolina’s O. Max Gardner Award 2Antithrombotic Drugs: World Industry and Market Prospects 2015-2025 2Antithrombotic Drugs: World Industry and Market Prospects 2015-2025 3Antithrombotic Drugs: World Industry and Market Prospects 2015-2025 4Antithrombotic Drugs: World Industry and Market Prospects 2015-2025 5
... Middle East,s only forum for the global pharma/biotech industries, Pharmaceutical Manufacturing ... ... April 2008, DUBAI, United Arab Emirates, Sept. 4 The Middle ... and with annual growth in double digits. The market,drivers are: -- ...
... Exists Between Understanding Cholesterol Monitoring Versus ... N.J., Sept. 4, 2007 A recent survey ... spite of concerns about the,serious health risks associated ... coronary heart disease, there is a significant disconnect,between ...
... Calif., Sept. 4 Volcano,Corporation (Nasdaq: VOLC ... measurement (FM) products designed to enhance the diagnosis,and ... today that it,will be participating in the Bear ... The presentation by Scott Huennekens, president and chief ...
Cached Biology Technology:New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 2New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 3New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 4New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 5New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 6New Survey Reveals Many Adults With High Cholesterol Fail to Take Necessary Steps to Improve Their Condition 7Volcano Corporation Presentation at Bear Stearns Conference to be Webcast 2
(Date:4/2/2015)... 2015 In the current ... outperforms the strongest competitors, showing outstanding performance in ... system is capable of a throughput of 5.000.000 ... to be ten times faster than most competitors ...      (Photo: http://photos.prnewswire.com/prnh/20150402/738673-a ) ...
(Date:4/1/2015)... 1, 2015   Medisafe ™, the leading global ... iOS and Android smartphones and ... into the platform to allow patients to track and ... first time, patients will be able to visualize in ... important biometrics, such as glucose levels and blood pressure. ...
(Date:3/24/2015)... Mar. 24, 2015 Research and Markets ... "Global Iris Recognition Market 2015-2019" report to ... Iris Recognition market to grow at a CAGR of ... report covers the present scenario and the growth prospects ... 2015-2019. To calculate the market size, the report considers ...
Breaking Biology News(10 mins):DERMALOG AFIS Emerges as Performance Winner in NIST Benchmark Test 2DERMALOG AFIS Emerges as Performance Winner in NIST Benchmark Test 3Medisafe Announces Launch of Biometric Integration, Enabling Patients to Stay Adherent to Their Meds and See Tangible Health Results 2Global Iris Recognition Market 2015-2019 with 3M Cogent, Bioenable Technologies, Cross Match Technology, Iris ID Systems & Safran Dominating 2
... French . , Two McGill researchers have ... Fellowships. Dr. Andrew P. Hendry an associate professor with ... Dr. Karim Nader, an associate professor and Willam Dawson ... the prestigious fellowships from the Natural Sciences and Engineering ...
... emotional toll on our bodies and scientists are working on ... to stress at the cellular level in the brain. ... essential for survival. Using a rat model, Jaideep ... of researchers at the Hotchkiss Brain Institute have discovered that ...
... for pregnant women and their children, and vitamin B12 ... any common multivitamin, say doctors and dietitians with the ... are available for comment in response to a new ... vitamin B12 may increase the risk for neural tube ...
Cached Biology News:2 McGill researchers garner prestigious NSERC Steacie Fellowships 2New and unexpected mechanism identified how the brain responds to stress 2Doctors endorse vegan and vegetarian diets for healthy pregnancies 2