Income tax expense in the first quarter of fiscal 2010 totalled $10,000 (2009 - $30,000). All income taxes are attributable to the Company's operations in Ireland.
(1) Klean-Prep® is a registered trademark of Intercon Pharma Limited a wholly owned subsidiary of Helix BioPharma Corp. Imunovir® is a registered trademark of Newport Pharmaceuticals Ltd. Orthovisc® and Monovisc(TM) are trademarks of Anika Therapeutics, Inc.
Cash used in operating activities totalled $2,348,000 in the first quarter of fiscal 2010 (2009 - $1,618,000), include a net loss of $3,473,000 (2009 - $2,321,000).
Significant adjustments in the first quarter of fiscal 2010 include amortization of capital assets of $98,000 (2009 - $64,000), amortization of intangible assets of $nil (2009 - $3,000), deferred lease credits of $8,000 (2009 - $nil), stock-based compensation related to earlier stock option grants of $160,000 (2009 - $nil), foreign exchange gains of $42,000 (2009 - $150,000 loss) and changes in non-cash working capital balances related to operations of $917,000 (2009 - $486,000).
Financing activities in the first quarter of fiscal 2010 totalled $11,597,000 (2009 - $9,659,000). Financing activities in both comparative quarters reflect the net proceeds of two separate private placements.
Use of cash in investing activities in the first quarter of fiscal 2010 totalled $245,000 (2009 - $37,000) and represents capital acquisitions in both comparative quarters. The Company has increased its capital spending requirements in fiscal 2010 in support of its contract manufacturing initiatives by $441,000. The Company now projects capital expenditures in fiscal 2010 to total $615,000. The Company's original capital budget for fiscal 2010 was $174,000.
LIQUIDITY, CAPITAL RESOURCES AND OUTLOOK
Since inception, the Company h
|SOURCE Helix BioPharma Corp.|
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