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PreMD Reports First Quarter Results
Date:5/15/2008

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OPERATING ACTIVITIES

Net loss and comprehensive loss for the

period (1,682,729) (1,589,195)

Add items not involving cash

Amortization 22,363 41,380

Stock-based compensation costs included in:

Research and development expense 37,775 32,097

General and administration expense 75,015 57,293

Imputed interest on long-term debt 290,279 248,346

Accrued interest on debenture 6,779 -

Interest on convertible debentures paid

in common shares 167,218 136,944

Loss (gain) on foreign exchange 281,222 (83,553)

Net change in non-cash working capital

balances related to operations (111,451) (1,021,467)

Decrease in deferred revenue (26,670) -

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Cash used in operating activities (940,199) (2,178,155)

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INVESTING ACTIVITIES

Short-term investments 445,372 1,817,691

Proceeds from sale of capital assets - 873

Purchase of capital assets (9,161) (1,749)

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Cash provided by investing activities 436,211 1,816,815

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FINANCING ACTIVITIES

Issuance of debentures, net of issue costs 1,153,512 -

Issuance of capital stock, net of issue costs - 3,779,721
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SOURCE PreMD Inc.
Copyright©2008 PR Newswire.
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