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On a non-GAAP basis, net loss for the first quarter of 2012, excluding the $2,116,000 of non-cash charge related to the re-measurement to fair value of a derivative that is being accounted for as a liability, was $708,000 or 0.01 per basic share and diluted share. Assuming the derivative was converted into OphthaliX's common stock, as of March 31, 2012, OphthaliX's stockholder's equity on a Non-GAAP basis would be $3,896,000.Three months endedMarch 31, 2012(unaudited)Reported GAAP net loss2,824,000Re-measurement of a derivative to fair value(2,116,000)Non-GAAP net loss708,000OPHTHALIX, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(Unaudited)(U.S. dollars in thousands, except share and per share data)Period from
June 27, 2011Three months
ended March 31,(inception date)
to March 31, 20122012UnauditedUnauditedOperating expenses:Research and development$ 508$ 724General and administrative202337Total operating expenses7101,061Financial expenses, net2,1143,164Net loss2,8244,225Net loss per share:Basic and diluted net loss per share$ (0.06)$ (0.10)Weighted average number of Common shares used in
computing basic and diluted net loss per share 46,985,51741,176,629Comprehensive loss2,9414,386 OPHTHALIX, INC. CONSOLIDATED BALANCE SHEETS (Unaudited)(In thousands) March 31,2012December 31,2011UnauditedASSETSCURRENT ASSETS:Cash and cash equivalents$
2,467$
3,441Investment in parent company 263172Other accounts receivable 5463Total current assets3,2763,616LONG-TERM ASSETS:Investment in parent company 1,1281,336Total long-term assets1,1281,336Total assets$
4,404$
4,952LIABILITIES AND SHAREHOLDERS' EQUITYCURRENT LIABILITIES:Related company $
338$
40Other accounts payables and accrued expenses 170160Total current liabilitie
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