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Deferred revenue (332,000) (373,000)
Other current liabilities 304,000 109,000
Net cash used in operating activities (3,485,000) (3,621,000)
Cash flows from investing activities:
Capital expenditures (225,000) (165,000)
Purchase of investments (23,482,000) (25,533,000)
Maturities of investments 25,000,000 36,000,000
Net cash provided by investing
activities: 1,293,000 10,302,000
Cash flows from financing activities:
Payments on capital lease obligations (8,000) (11,000)
Exercise of stock options and warrants 266,000 1,028,000
Net cash provided by financing activities 258,000 1,017,000
Net (decrease)/increase in cash and cash
equivalents (1,934,000) 7,698,000
Cash and cash equivalents at beginning of
period 5,730,000 3,527,000
Cash and cash equivalents at end of period $3,796,000 $11,225,000
This press release, including statements regarding financial
information for future periods, contain forward-looking statements, and
such statements are made pursuant to the safe harbour provisions of the
Private Securities Litigation Reform Act of 1995. These statements involve
risks and uncertainties that could cause actual outcomes to differ
materially from those contemplated by the forward-looking statements.
Several factors, including timing of FDA approvals, changes in customer
forecasts, our failure to meet customers' purchase order and quality
requirements, supply shortages, production delays, changes in the markets
for customers' products, introduction timing and acceptance of our new
products scheduled for
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