Cortech Announces Second Quarter Results.BEDMINSTER Bedminster may refer to:
See: Over-the-counter. OTC See over-the-counter market (OTC). : CRTQ.PK) reported a net loss for the three months ended June June: see month. 30, 2005 of $20,000, or $.01 per share, compared to a net loss of $126,000, or $.04 per share, for the comparable period in 2004. For the six months ended June 30, 2005, the Company had a net loss of $40,000 or $.01 per share compared to a net loss of $210,000 or $.06 per share in the same period of 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 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 AND SIX MONTHS ENDED JUNE 30, 2005 AND 2004
(in $000's, except per share amounts)
(Unaudited)
Three Months Six Months
Ended Ended
June 30, June 30,
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2005 2004 2005 2004
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Revenues:
Interest and other income $ 77 $ 28 $ 141 $ 52
Expenses:
General and administrative 96 154 180 261
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Loss before income taxes ( 19) ( 126) ( 39) ( 209)
Provision for income taxes 1 - 1 1
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Net loss ($ 20) ($ 126) ($ 40) ($ 210)
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Basic and diluted net loss per share ($ .01) ($ .04) ($ .01) ($ .06)
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CONDENSED BALANCE SHEET
JUNE 30, 2005
(in $000's)
(Unaudited)
ASSETS
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Cash and cash equivalents $ 11,311
Other assets 13
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Total assets $ 11,324
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LIABILITIES AND STOCKHOLDER'S EQUITY
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Current liabilities $ 123
Stockholders' equity 11,201
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Total liabilities and stockholders' equity $ 11,324
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