Medistem Laboratories (OTCBB: MDSM) today reported monetary results for the year ended December 31, 2007. The Company reported a nett waste of $2,510,000, or $0.02 per division for the year ended December 31, 2007 (which includes non-cash array based compensation charges of $1,517,000), as compared to a web defeat of $3,793,000 or $0.03 per part for the year ended December 31, 2006 (which includes non-cash have based compensation charges of $2,597,000).
Comparative even out sheets and profit statements are enclosed in this release. Key events in 2007 were as follows: -- We shifted our organization nave from far-reaching licensing activities to biotech activities aimed at the U.S. bazaar -- We acquired all polymath acreage rights to Endometrial Regenerative Cells ("ERC"), a different root of suppress cells derived from menstrual blood.
This technology is the ultimate concentrate of our establishment at this significance in spell -- We expanded our collaborations with leaders in the field, including individuals from Lawson Health Research Institute, Scripps Research Institute, University of Alberta, Bio-Communications Research Institute, Florida University, and Indiana University -- We renegotiated our approve unanimity with our Costa Rican licensee to waste funding and day-to-day guidance obligations to the licensee while still retaining loot flows from the commission agreement. With this modification, the affiliate was deconsolidated in our fiscal statements efficacious December 31, 2007. This modification allows us to convergence our efforts on our biotech activities -- We successfully completed our internal restrain figuring under the provisions of Section 404 of the Sarbanes Oxley Act of 2002, noting no significant manage deficiencies Neil Riordan, Chief Executive Officer of Medistem, noted, "We are very gratified with the way we've made in the evolvement of our biotechnology programs.
Our advanced position program involving the ERC cubicle is showing a great deal of betoken and we are agitated about its possible reference to a wide-ranging genre of diseases." Steve Rivers, Chief Financial Officer, said, "We have not needed a paramount initiate in almost two years. While we will distress to access the outstanding markets to go on our biotech activities, our investors can sense sure that they are investing in a business that does not carelessly adulterate its shareholder base.
Further the renowned end of our internal steer assessment without any significant contain deficiencies is exhibit of the incisiveness of our directorship team and its commitment to structure a strong foundation for growth and discovery." About Medistem Laboratories, Inc. Medistem Laboratories is a biotechnology entourage founded to unfold and commercialize technologies akin to grown-up stem stall extraction, manipulation, and use for treating rebellious and degenerative diseases. The company's chief product is a "universal donor" stalk cell derived from the menstrual blood that possesses the wit to adjust into all major tissue types of the body, draw high amounts of crop factors, and has astonishing replicative ability. Due to Medistem's relationships and collaborative efforts with respected institutions, Medistem believes it is well positioned to be a foremost developer of matured retard chamber products.
Cautionary Statement This instrument does not constitute an put on the market to sell or a solicitation of an volunteer to buy any of our securities. This record contains certain forward-looking statements within the denotation of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may comprise projections of matters that adopt revenue, the faculty to exploit or certify undeniable technologies; operating expenses or sieve earnings; projections of prime expenditures; projections of growth; hiring plans; plans for days operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing. Forward-looking statements are inherently ground to risks and uncertainties, some of which cannot be predicted or quantified.
Future events and verified results could depart much from those set forth in, contemplated by, or underlying the forward-looking information. Some of the leading factors that could cause the company's authentic results to diverge basically from those projected in forward-looking statements made by the caller include, but are not fixed to, the following: technology increase limitations, perfervid competition, jeopardy of province interruption, bosses of brisk growth, need for additional financing, regulatory approvals and requirements, dependence on clarification personnel and research, managing and other administrative costs. These factors are discussed in greater squad in the company's every ninety days and annual occasional reports, all as filed with the Securities and Exchange Commission.
With respect to article: click there
No comments:
Post a Comment