Theralase Releases 3Q2013 Financial Results
29 Novembre 2013 - 1:00PM
Access Wire
Toronto, Ontario - November, 29, 2013
Theralase Technologies Inc.
(TSXV: TLT) released its third quarter 2013
financial results today, demonstrating an increase in profitability
by 40% year over year, while successfully advancing its patented
next generation therapeutic laser and cancer destruction
technologies.
Total revenue for the
nine months ended September 30, 2013 decreased 25% from $1,555,956
to $1,165,216 year over year.
The net loss
for the nine months ended September 30,
2013 was $596,873 (includes $137,888 of net
non-cash expenses) compared to a net loss of $1,001,046 in 2012
(includes $233,484 of net non-cash expenses), demonstrating an
improvement of 40% year over year.
The net loss is a
reflection of the ongoing commitment of Theralase to invest in the
next generation of therapeutic laser and cancer destruction
technologies, from existing therapeutic laser sales.
Selling and marketing
expenses decreased 31% from $499,512 to $344,136 for the same
period in 2012. The decrease was due to reduced spending on
salaries for sales personnel and a reduction in associated
marketing costs.
Administrative
expenses decreased 20% from $902,252 to $722,485 for the same
period in 2012. The decrease in administrative expenditures is due
to reductions in: administrative personnel, stock based
compensation and rent.
Research
and development costs decreased 45% from
$665,104 to $364,189
for the same period in 2012. The decrease reflects
the approaching completion of the patented TLC-2000 therapeutic
laser technology and the pending ramp-up in the research and
development costs associated with the cancer destruction
technology.
"Theralase is
preparing to launch its next generation TLC-2000 biofeedback
therapeutic laser technology in 2014 that will revolutionize the
therapeutic laser industry. This new, patented cold laser
technology will provide patient specific treatments that adapt to a
patient's physical characteristics delivering best-in-class
performance in the elimination of pain, inflammation and
acceleration of tissue healing. The medical community and patients
who experience pain have been waiting for a technology of this
efficacy and performance to enter the market", stated Roger
Dumoulin-White, President and CEO of Theralase.
Mr. Dumoulin-White
went on to say, "Our patented cancer technology is demonstrating
significant success in the pre-clinical stages and is on track for
clinical evaluation in humans for bladder cancer in late
2014.
In order to
facilitate the launch of these two groundbreaking technologies in
2014, on November 7, 2013, the company closed
a private placement, raising gross proceeds
of $3,150,000 by issuing 21,000,000 units to investors at a price
of $0.15 per Unit. Each Unit consisted of one common share in the
capital of the Company and one non-transferable common share
purchase warrant. Each whole Warrant will entitle the purchaser to
purchase one additional common share in the capital of the Company
until November 7, 2015 at a price of $0.20.
About Theralase
Technologies Inc.
Theralase
Technologies Inc. designs, manufactures and markets patented,
superpulsed laser technology used in healing injured tissue and
destroying cancer. Theralase technology is safe and effective in
eliminating pain, reducing inflammation and accelerating tissue
regeneration of numerous nerve, muscle and joint injuries.
Theralase is actively developing patented technology that is able
to target and destroy cancers, bacteria and viruses when light
activated.
The complete interim
consolidated financial statements and MD&A for nine month
period ended September 30, 2013 may be viewed at
www.theralase.com and
www.sedar.com .
This press release
contains forward-looking statements, which reflect the Company's
current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could
differ materially from those projected herein. The Company
disclaims any obligation to update these forward-looking
statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchanges) accepts responsibility for
the adequacy or accuracy of this release.
For More Information, please
contact:
Roger Dumoulin - White,
President & CEO
416-699-LASE (5273) ext. 225
rwhite@theralase.com
Kristina Hachey
Chief Financial Officer
416-699-LASE (5273) ext. 224
khachey@theralase.com
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