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GeneNews Announces First Quarter Results
Date:5/2/2008

tioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Expressed in Canadian dollars)

As at

March 31 December 31

2008 2007

$ $

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ASSETS

Current

Cash and cash equivalents 9,116,406 11,279,030

Short-term investment 400,000 400,000

Accounts receivable 1,118,151 1,582,242

Investment tax credits recoverable 573,618 1,038,199

Prepaid expenses and deposits 558,783 512,914

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Total current assets 11,766,958 14,812,385

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Property, plant and equipment, net 3,700,464 3,635,245

Intellectual property, net 292,547 400,380

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15,759,968 18,848,010

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LIABILITIES AND SHAREHOLDERS' EQUITY

Current

Accounts payable and accrued liabilities 1,461,582 1,699,153

Deferred revenue 1,210,514 1,204,305

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SOURCE GeneNews Limited
Copyright©2008 PR Newswire.
All rights reserved

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