Theralase Releases 2013 Financials
01 5월 2014 - 5:28AM
Access Wire
Toronto, ON / ACCESSWIRE / April 30, 2014 / Theralase Technologies Inc.
(herein "Theralase") (TSXV: TLT) (TLTFF: OTCBB) released its
2013 financial results today, demonstrating an increase in
profitability by 24% year over year, while successfully advancing
its patented next generation therapeutic laser and cancer
destruction technologies.
Total revenue for the year
ended December 31, 2013 decreased 34% from $1,824,313 to $1,203,620
year over year.
The net loss for
the year ended December 31, 2013 was $1,152,209
(including $211,543 of net non-cash expenses) compared to a net
loss of $1,509,569 in 2012 (including $322,915 of net non-cash
expenses), demonstrating an improvement of 24% 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 $626,380 to $433,622 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 24% from $1,238,900 to $942,069 for the same period in
2012. The decrease in administrative expenditures was due to
reductions in administrative personnel, stock based compensation
and commercial rent.
Research
and development costs decreased 40% from
$873,335 to $527,233
for the same period in 2012. The decrease reflects the
approaching completion of the patented next generation TLC-2000
therapeutic laser technology and the pending ramp-up in the
research and development costs associated with the cancer
destruction technology in 2014.
The Company is focused on
achieving the following strategic initiatives in 2014:
-
-- Increasing product sales
and market acceptance of the TLC-1000 laser technology in Canada,
the US and international medical markets, supported by the latest
independent scientific and clinical research, which continues to
confirm that the Company's proprietary technology has a higher
safety and effectiveness as compared to other competitive
technologies.
-- Investing in scientific and
clinical research aimed at unlocking the mechanisms of action as to
how Theralase laser light can so dramatically heal tissue versus
competitive technologies.
-- Launch its patented next
generation TLC-2000 biofeedback laser technology in Canada and the
US in 4Q2014.
-- Research and development of
its patented Photo Dynamic Compound (PDC) technology proven
effective pre-clinically in the destruction of cancer by completing
preclinical research in 2014 and commencing a FDA Phase 1/2a human
clinical trial in bladder cancer in 1Q2015.
Roger Dumoulin-White,
President and CEO of Theralase stated that, "2013 was a pivotal
year for Theralase, where we relocated our head office to a better
corporate location, streamlined our operations and made
advancements in both the therapeutic laser and anti-cancer
divisions. 2014 will be a very exciting year for Theralase as we
increase our revenues through expansion of our sales and marketing
initiatives, launch our next generation therapeutic laser
technology and prepare to commence human clinical trials in our
anti-cancer division in early 2015. Due to the on-going requirement
of capital to fund the Company's growth in 2014 in both divisions,
the Company will continue to investigate financing options on both
the debt and the equity side, in order to achieve its strategic
initiatives and unlock shareholder value."
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 consolidated
financial statements and MD&A for the twelve month period ended
December 31, 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 and CEO
416-699-LASE (5273) ext. 225
rwhite@theralase.com
Kristina Hachey
Chief Financial Officer
416-699-LASE (5273) ext. 224
khachey@theralase.com
SOURCE: Theralase Technologies Inc.
Theralase Technologies (TSXV:TLT)
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Theralase Technologies (TSXV:TLT)
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