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BELLUS Health reports results for first half of fiscal 2009
Date:8/11/2009

ng purposes should now be assumed to end in April 2011. Accordingly, the Deferred gain on sale of property and the Deferred rent liability, recorded in 2005 at the time of the sale-leaseback transaction on the Company's premises, will be amortized on a straight-line basis to April 2011, for the portion of the premises that the Company continues to occupy. A portion of the Deferred gain on sale of property and Deferred rent liability has been attributed to the premises no longer occupied by the Company and factored into the net credit for vacant space. The net credit for vacant space also includes a provision for lease consisting of the present value of future lease costs of the vacant portion of the premises, net of an estimate of the sublease rentals that could reasonably be obtained, as well as an amount proportionate to the vacant space of the Lease Termination Option Payment. The provision is based on various assumptions, including the Company's estimated borrowing rate and obtainable sublease rates. These assumptions are influenced by market conditions and the availability of similar space nearby. If market conditions change for sub-lease rentals in the future, the Company will adjust the provision accordingly.

As at August 11, 2009, the Company had 52,237,918 Common Shares outstanding, 220,000 Common Shares issuable to the Chief Executive Officer upon the achievement of specified performance targets, 4,830,951 options granted under the stock option plan, 101,831,160 preferred shares outstanding which are convertible into Common Shares on a one for one basis, 2,250,645 warrants outstanding as well as notes outstanding in the amount of $13,937,000 and CDN$21,115,000, which are convertible into Common Shares.

Financial position and going concern

To date, the Company has financed its operations primarily through public offerings of Common Shares, private placements, issuance of convertible notes, as well as a sale-leasebac
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SOURCE BELLUS HEALTH INC.
Copyright©2009 PR Newswire.
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Related medicine news :

1. BELLUS Health Inc. Announces $12 Million Rights Offering To Common Shareholders
2. BELLUS Health reports results for first quarter of fiscal 2009
3. BELLUS announces Chief Financial Officer to depart effective May 22, 2009
4. BELLUS Health inc. announces completion of first tranche of financing
5. BELLUS Health reports results for the fourth quarter of 2008
6. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on BELLUS Health Inc.
7. BELLUS Health announces formal notice to voluntarily delist from NASDAQ
8. BELLUS Health is Preparing to Voluntarily Delist from the NASDAQ Capital Market
9. BELLUS Health Announces Stock Listing Transfer from NASDAQ Global Market to NASDAQ Capital Market
10. BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on EMEA Update
11. BELLUS Health to present at the Rodman and Renshaw 10th Annual Healthcare Conference

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