CalciTech Announces Interim Results.HAMILTON Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. , Bermuda Bermuda (bûrmy  `də), British dependency (2005 est. pop. 65,400), 21 sq mi (53 sq km), comprising some 150 coral rocks, islets, and islands (of which some 20 are inhabited), in the -- CalciTech Ltd. (Plus Markets:CLK CLK ClockCLK Clerk CLK CDC2-Like Kinase CLK Corel RAVE (file extension) CLK Chep Lap Kok (Hong Kong airport) CLK Ceska Lekarska Komora (Chech) ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLKTF) today announced its unaudited financial results for the six months period ending June June: see month. 30th 2007, which can be downloaded from the Company's website. Net loss for the period was $545,000, in line with budget, part of which is due to currency translation issues as the Company reports in US$ but has much of its expenses in other currencies. Both Product and Project Development costs are now being added to Balance Sheet value rather than being expensed, with a total of $769,000 being capitalised. The budget for interest payments has increased due to an increase in borrowings, and despite a non-recurring exceptional item totalling $39,000, our General and Administrative Expenses conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" our expectations. Epsom Investment Services continues their support by converting $2,001,000 of outstanding credit into 6,900,000 shares at market price of $0.29 cents, in order to extend the credit facility of $2.5 million to 30th August 2009, thus allowing CalciTech to cover its burn rate to beyond the next twelve months. Roger Leopard, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for CalciTech, stated, "We are pleased with the progress made during the period. Though certain delays were encountered in the work towards completion of our project finance, this time has been fruitfully fruit·ful adj. 1. a. Producing fruit. b. Conducive to productivity; causing to bear in abundance: fruitful soil. 2. used to further our market reach and to add a potentially very profitable drying facility to the design of our planned production facility in Leuna." "We have now received the official permitting documentation after a lengthy process, requiring a serious effort from both our technical and our legal team. The result is that we now have the required documentation for a plant including a drying and packaging facility, which will enable us to target the very lucrative specialty markets." "Finally, we have made much progress commercially, and we look forward to updating our shareholders as and when material news becomes available." The directors of the company take responsibility for this announcement. This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion