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Vasogen Announces 2007 Year-End Results
Date:1/16/2008

f Cash Flows

(In thousands of Canadian dollars)

-------------------------------------------------------------------------

Period from

December 1,

1987 to

Years ended November 30, November 30,

2007 2006 2005 2007

-------------------------------------------------------------------------

Cash provided by (used in):

Operating activities:

Loss for the period $ (28,777) $ (66,360) $ (93,048) $(378,346)

Items not involving cash:

Amortization 503 782 589 6,160

Accretion in carrying

value of senior

convertible notes

payable 728 7,824 1,742 10,294

Amortization of

deferred financing

costs 154 2,495 408 3,057

Loss on extinguishment

of senior convertible

notes payable 1,754 4,995 - 6,749

Change in fair value of

embedded derivatives (829) - - (829)

Stock-based compensation 1,995 3,083 3,615 13,585

Common shares issued

for services - 36 - 2,485

Unrealized gain on

forward foreign

exchange contract (376) - - (376)

Unrealized foreign

exchange loss (gain) 2,566 (65) (542) 11,543

Other - - - (35)

Change in non-cash

operating working

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SOURCE Vasogen Inc.
Copyright©2008 PR Newswire.
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