Financial Highlights:
For the quarter ending March 31, 2009:
Research and development expenses decreased by 4.8% or $52,000 to $1,039,000 from $1,091,000 in the quarter ending March 31, 2008;
Loss from operations, before interest, taxes, foreign exchange and amortization decreased by $566,000 or 69.4% to $249,000 compared to $815,000 in the same quarter of the prior year;
The company had $3.4 million in cash and cash equivalents, a decrease of $0.8 million compared to $4.2 million as at December 31, 2008.
