the Company's restructured business plan which contributed to reduced costs associated with our sales and marketing efforts of $579,000 due to lower head count and marketing expenses, a decrease of $297,000 in administrative compensation, lower consulting fees of $41,000, a decrease of $8,000 in corporate travel expenses, and lower legal fees of $191,000. These expense decreases were partially offset by an increase in director fees of $79,000, commissions totalling $30,000 related to the Chinese licensing agreement, costs of $40,000 associated with our annual meeting of shareholders, increased public relation expenses of $36,000, and legal fees related to our patents of $26,000.Other income and Other expenses
Interest and miscellaneous income for the second quarter of 2010 was $594 as compared to $21,066 for the second quarter of 2009. The decrease of $20,000 is attributable to a decrease in interest income due to lower cash balances and interest yields in 2010.
Interest expense totalled $8,500 for the three months ended June 30, 2010 and consisted of interest costs associated with regulatory fees. There was no interest expense for the three months ended June 30, 2009.
Loss on sale of intangible asset totalled $857,839 for the three months ended June 30, 2010 and resulted from the divestiture of our Zindaclin® intangible asset. This loss reflects a conservative position in respect to future milestone payments where only guaranteed payments are reflected in the valuation of the divestiture proceeds. There was no intangible asset divestiture for the three months ended June 30, 2009.
About ULURU Inc.:ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex™ Aggregate technology and OraDiscPage: 1 2 3 4 5 6 Related medicine technology :1
. ULURU Inc. Announces the Commencement of First Clinical Study Using Altrazeal(TM) Silver2
. ULURU Inc. to Present Altrazeal(TM) Clinical Evidence and Advanced Therapeutic Research at the Diabetic Foot Global Conference (DFCon) 20093
. ULURU Inc. Announces Conference Call to Discuss Financial Results for the Third Quarter Ended September 30, 2009 and to Provide a Business Update4
. ULURU Inc. Invited to Present Altrazeal(TM) Research at 10th Annual Wound Healing Science and Industry Conference5
. ULURU Inc. Obtains Status of Approved Supplier With McKesson.6
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