Cortech Announces Year End Results.BEDMINSTER Bedminster may refer to:
Antonym: dec. . (OTHER OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CRTQ.PK) today announced a net loss of $84,000 or $.02 per share for the year ended December December: see month. 31, 2005, compared to a net loss of $306,000 or $.09 per share for the year ended December 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 3,594,940 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.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
(in $000's, except per share amounts)
Years Ended
December 31,
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2005 2004
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Revenues:
Interest income $ 326 $ 140
Other income 11 -
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Total revenues 337 140
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Expenses:
General and administrative 420 445
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Loss before income taxes ( 83) ( 305)
Provision for income taxes 1 1
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Net loss ($ 84) ($ 306)
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Basic and diluted net loss per share ($ .02) ($ .09)
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Basic and diluted weighted average common shares
outstanding 3,596 3,596
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BALANCE SHEET
DECEMBER 31, 2005
(in $000's)
ASSETS
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Cash and cash equivalents $ 425
Short-term investments 10,851
Other current assets 7
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Total assets $11,283
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Liabilities $ 129
Stockholders' equity 11,154
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Total liabilities and stockholders' equity $11,283
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