NUVO announces third quarter 2008 financi...(5) (189040) (176664) --------...),Health

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DEFICIT, END

OF PERIOD (197,179) (185,708)) (197,179) (185,708)

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Average number of

basic and diluted

common shares

outstanding for

the period

(millions) 310.1 283.1 304.2 224.6

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Net loss per

common share

- basic and

diluted (0.01) (0.01) (0.03) (0.04)

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NUVO RESEARCH INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Three-months Nine-months

Unaudited ended ended

(thousands of September 30, September 30, September 30, September 30,

Canadian dollars) 2008 2007 2008 2007

$ $ $ $

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OPERATING

ACTIVITIES

Net loss (3,004) (2,523) (8,139) (9,044)

Items not involving

current cash flows:

Amortization 221 230 633 656

Deferred revenue

recognized (560) (448) (1,271) (1,031)

Stock-based

compensation

and payments 131 94 497 600

Accretion
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