Cortech Announces First Quarter Results.BEDMINSTER Bedminster may refer to:
Antonym: dec. . (CRTQ - NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on ) today announced a net loss of $20,000 or $.01 per share for the three months ended March 31, 2005 compared to a net loss of $84,000 or $.02 per share for the three months ended March 31, 2004. Cortech is actively seeking acquisitions and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. a merger partner. Cortech has 3,595,780 shares of common stock outstanding. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which may involve known and unknown risks, uncertainties and other factors that may cause Cortech's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Cortech cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date. The per share earnings in the text of this news release are diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of .
CORTECH, INC.
CONDENSED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2005 AND 2004
(in $000's, except per share amounts)
(Unaudited)
Three Months Ended
March 31,
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2005 2004
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Revenues:
Interest and other income $ 64 $ 25
Expenses:
General and administrative 84 108
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Loss before income taxes ( 20) ( 83)
Provision for income taxes - 1
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Net loss ($ 20) ($ 84)
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Basic and fully diluted net
loss per share ($ .01) ($ .02)
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CONDENSED BALANCE SHEET
MARCH 31, 2005
(in $000's)
(Unaudited)
ASSETS
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Cash and cash equivalents $ 11,354
Other current assets 15
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Total assets $ 11,369
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LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
Liabilities $ 148
Stockholders' equity 11,221
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Total liabilities and stockholders' equity $ 11,369
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