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Bioniche Reports Fiscal 2008 First Quarter
Date:11/9/2007

(2,661,997) (1,418,761)

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INVESTING ACTIVITIES

Proceeds from maturity of short-term investments 9,500,000 -

Government incentives received on account

of property, plant and equipment 1,834 -

Purchase of property, plant and equipment (198,709) (107,405)

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Cash used in investing activities 9,303,125 (107,405)

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FINANCING ACTIVITIES

Proceeds from deferred government incentives 31,264 -

Proceeds from revolving credit facility 4,946,959 4,492,048

Repayment of revolving credit facility (5,098,685) (5,157,528)

Repayment of capital lease obligations (35,159) (32,675)

Repayment of senior and other long-term debt (4,751) (277,266)

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Cash used in financing activities (160,372) (975,422)

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Net increase (decrease) in cash and

cash equivalents during the period 6,480,756 (2,501,588)

Cash and cash equivalents,

beginning of period 1,523,597 4,093,293

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Cash and cash equivalents, end of period 8,004,353 1,591,705

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SOURCE Bioniche Life Sciences Inc.
Copyright©2007 PR Newswire.
All rights reserved

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