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GeneNews Announces Second Quarter Results




(Expressed in Canadian dollars)

Three months Three months Six months Six months

ended ended ended ended

June June June June

2008 2007 2008 2007


Cash flows provided

by (used in):


Net and


loss for

the period $ (3,994,800) $ (2,301,519) $ (6,581,110) $ (3,972,769)

Items therein

not requiring


Stock based

compensation 352,264 131,747 494,538 278,186


of capital

assets 213,183 89,917 358,365 174,862

Amortization of


property 110,537 110,537 221,074 221,074


(3,318,816) (1,969,318) (5,507,133) (3,298,647)

Changes in

non-cash working



receivable 397,391 (245,835) 861,483 (311,706)


tax credit

recoverable 403,141 - 867,722 -

Prepaid expenses

and deposits 103,452 166,687 57,583 241,671

Accounts payable

and accrued

liabilities 220,553 122,972 (17,018) 120,718

Deferred revenue (288,437) 531,700 (582,723) 531,700


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

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