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ChromaDex Reports 2009 Q1 Financial Results

IRVINE, Calif., May 15 /PRNewswire-FirstCall/ -- ChromaDex Corporation, (OTC Bulletin Board: CDXC) a leader in phytochemical reference standards and contract research, today announced financial results for the 2009 first quarter. On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced a net loss attributable to common stockholders of $0.01 per share for the thirteen week period ended April 4, 2009.

As of April 4, 2009, cash, cash equivalents, and marketable securities totaled $842,000.

"The importance of not only implementing Good Manufacturing Practices for dietary supplements but also the utilization of reference standards and other analytical methodology is paramount to ensuring that food and supplement products are safe and effective," said Frank Jaksch, CEO and co-founder of ChromaDex. "Our work and expertise in developing quality standards for the individual sweet components of stevia earned ChromaDex the prestigious Scientific Achievement Award from the Nutrition Business Journal during the quarter. The award further validates our mission to provide the tools needed to validate the safety, quality and potency of products for the dietary supplement, food, beverage, personal care and sports nutrition markets."

Additional Financial Results & Notes

On a reported basis, ChromaDex recorded revenue during the first quarter of 2009 of $1,447,127 as compared to $1,059,716 for the same period in 2008. The net loss attributable to common stockholders for the thirteen weeks ended April 4, 2009, was $323,842 as compared to a net loss of $122,906 for the same period in 2008. The Company notes that as a result of its closing of the reverse merger acquisition of Cody Resources, Inc. on June 20, 2008, investors are cautioned that the Company's historical performance is not directly comparable.

About ChromaDex

ChromaDex is a leader in the development of Phytochemical and Botanical Reference Standards and the creation of associated intellectual property. ChromaDex is committed to sustainable "Green chemistry" and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the analytical tools and services to meet product regulatory, quality, efficacy and safety standards.

Forward-Looking Statements

Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to: the ability to market, produce and sell the referenced ingredients; risks relating to product and customer demand, market acceptance of our products; the effect of economic conditions both nationally and internationally; the ability to protect our intellectual property rights; the impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; our ability to raise capital to fund continuing operations; the ability to complete transactions; and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.

    ChromaDex Corporation
    10005 Muirlands Blvd, Suite G
    Irvine, CA 92618
    Phone 949-419-0288
    Fax 949-419-0294

    ChromaDex Corporation and Subsidiaries
    Consolidated Statements of Operations (Unaudited)
    For the Three Month Periods ending April 4, 2009 and March 29, 2008

                                                    Three Months Ended
                                              April 4, 2009    March 29, 2008

    Sales                                      $1,447,127        $1,059,716
    Cost of goods sold                            979,054           660,272
       Gross profit                               468,073           399,444

    Operating expenses:
     Selling                                      221,622           171,984
     General and administrative                   566,643           343,154
                                                  788,265           515,138

       Operating loss                            (320,192)         (115,694)

    Nonoperating (income) expenses:
     Interest expense                               5,245             7,616
     Interest income                               (1,595)             (404)
                                                    3,650             7,212

       Net loss                                 $(323,842)        $(122,906)

    Basic and Diluted loss per common
     share                                         $(0.01)           $(0.00)

    Basic and Diluted average common
     shares outstanding                        28,838,216        26,968,140

    See Notes to Consolidated Financial

SOURCE ChromaDex Corporation
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