tainty, including, but not limited to, the estimated amounts to be recovered, the yield of the substitute financial instruments and the timing of future cash flows, and the market for these types of instruments. The resolution of these uncertainties could be such that the ultimate fair value of these investments may vary significantly from the Company's current estimate. Changes in the near term could require significant changes in the recognized amount of these assets. As the Company records the New notes at current fair value each period, such adjustments will directly impact earnings.
As at December 31, 2008, the Company's workforce comprised 104 employees compared to 172 employees as at December 31, 2007. During the third quarter of 2008, the Company reduced further its research activities and associated workforce to focus on its key projects.
As at January 31, 2009, the Company had 50,043,892 common shares outstanding, 220,000 common shares issuable to the Chief Executive Officer upon the achievement of specified performance targets, 4,649,008 options granted under the stock option plan, 2,884,471 shares potentially issuable under the convertible notes (subject to adjustments, refer to note 11 to the consolidated financial statements) and 2,250,645 warrants outstanding (subject to adjustments in certain circumstances).
Change in functional and reporting currency
Effective July 1, 2007, the Company adopted the US dollar as its functional and reporting currency, as a significant portion of its revenues, expenses, assets, liabilities and financing are denominated in US dollars. Prior to that date, the Company's operations were measured in Canadian dollars and the consolidated financial statements were expressed in Canadian dollars. The Company followed the recommendations of the Emerging Issues Committee (EIC) of the Canadian Institute of Chartered Accountants (CICA), set out in EIC-130, "Translation method when thPage: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Related medicine news :1
. At Annual and Special Meeting of Shareholders - Neurochem to officially adopt new name - BELLUS Health - And to provide update on programs including first new natural health product, VIVIMIND(TM)2
. BELLUS HEALTH reports results for first quarter of fiscal 20083
. BELLUS Health to present at the Rodman and Renshaw 5th Annual Global Healthcare Conference4
. BELLUS Health announces closing of Innodia acquisition5
. BELLUS Health provides update on activities6
. BELLUS Health to present at the Rodman and Renshaw 10th Annual Healthcare Conference7
. BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on EMEA Update8
. BELLUS Health Announces Stock Listing Transfer from NASDAQ Global Market to NASDAQ Capital Market9
. BELLUS Health is Preparing to Voluntarily Delist from the NASDAQ Capital Market10
. BELLUS Health announces formal notice to voluntarily delist from NASDAQ11
. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on BELLUS Health Inc.