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GeneNews announces 2007 year end results
Date:3/26/2008

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ASSETS

Current

Cash and cash equivalents 11,279,030 20,593,568

Short-term investment 400,000 -

Accounts receivable 1,582,242 135,315

Investment tax credits recoverable 1,038,199 796,900

Prepaid expenses and deposits 512,914 685,819

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Total current assets 14,812,385 22,211,602

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Property, plant and equipment, net 3,635,245 1,645,488

Intellectual property, net 400,380 842,528

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18,848,010 24,699,618

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LIABILITIES AND SHAREHOLDERS' EQUITY

Current

Accounts payable and accrued liabilities 1,699,153 1,821,355

Deferred revenue 1,204,305 -

Current portion of long-term debt 585,903 102,549

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Total current liabilities 3,489,361 1,923,904

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Long-term debt 1,280,916 -

Long-term portion of deferred revenue 401,371 -

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Total liabilities 5,171,648 1,923,904


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SOURCE GeneNews Limited
Copyright©2008 PR Newswire.
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