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GeneNews announces 2007 year end results


Proceeds from exercise of employee stock options - 165,410

Net proceeds from exercise of 2004 broker

warrants - 33,452

Proceeds of long-term debt 1,899,990 -

Repayment of long-term debt (268,316) (139,427)


Cash provided by financing activities 1,688,559 23,956,151



Short-term investment (400,000) -

Additions to property, plant and equipment (2,377,874) (784,113)


Cash used in investing activities (2,777,874) (784,113)


Net increase (decrease) in cash and cash

equivalents during the year (9,314,538) 15,912,686

Cash and cash equivalents, beginning of year 20,593,568 4,680,882


Cash and cash equivalents, end of year 11,279,030 20,593,568



Cash and cash equivalents are comprised

of the following

Cash 6,152,694 294,578

Investment in money market fund 5,126,336 20,298,990


11,279,030 20,593,568


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

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