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INVITRO REPORTS FIRST QUARTER FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended December 31,
1997 1996
Revenues $133,000 $259,000
Costs and expenses 191,000 779,000
Loss from operations (58,000) (520,000)
Other income 0 14,000
Net loss $(58,000) $(506,000)
Loss per common share $(0.004) (0.04)
Weighted average common
shares outstanding 14,028,300 14,028,300

Condensed Consolidated Balance Sheet
December 31, September 30,
1997 1997
Cash and cash equivalents $54,000 $54,000
Other current assets 539,000 584,000
Total current assets 593,000 638,000
Noncurrent assets 229,000 255,000
Total assets $822,000 $893,000
Current liabilities $158,000 $169,000
Shareholders’ equity 664,000 724,000
Total liabilities & equity $822,000 $893,000

INVITRO INTERNATIONAL REPORTS FY 2016 A YEAR OF SOLID PROGRESS WITH AN UNUSUAL LOOK

InVitro International
Contact: W. Richard Ulmer
330 E. Orangethorpe Ave. Ste. D
(800) 246-8487
Placentia, CA 92870
http://www.invitrointl.com
Placentia, CA. Jan 31, 2017 – Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2016 sales of $884,245, off 11% from FY 2015 and income of $122,903, down from $232,100 the year prior. Cash increased more than 60% for the second consecutive year.

IVRO CEO and President, W. Richard Ulmer, observed: “Despite what may at first appear to be financially disappointing FY 2016 results when compared to 2015 figures, we at InVitro International view FY 2016 as an extremely positive year overall. When reporting sales, earnings, and cash for FY 2015, we stated clearly these were anomalies….albeit extremely positive ones. At that time we knew that FY 2016 comparisons would fall short. Thus we set measurable, stretching yet realistic financial goals for this year. For example, we believed our monthly sales in FY 2016 should be at least 25% higher than they were in FY 2014, two years earlier. If that were to happen, then we would show a solid upward trend over the two year period. In fact, monthly sales in FY 2016 finished more than 28% ahead of those in FY 2014. Furthermore, FY 2016 cash gains reflect that we made both our budgeted spending, and sales goals. These financial results are one of the reasons why we view our year so positively. In addition, Ocular Irritection continued its European Regulatory Agency progress reaching what we believe to be the final stages of OECD review. Looking forward, we expect FY 2017 to provide further evidence that IVRO can become a truly sustainable publically held corporation.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2016


2015


2016


2015


Revenues


224,041


262,302


884,245


994,714


Costs and expenses


229,370


245,296


768,040


768,531


Income from operations


 (5,329)


   17,006


116,205


226,183


Other income (loss)


1,297


(2,467)


6,698


5,917


Net profit 


(4,031)


14,540


122,903


232,100


Other Comprehensive Income


– 


–  


19,876


(11,110)


Comprehensive Income


(4,031)


14,540


142,779


220,990


Profit (loss) per common share


(0.001)


0.001


0.006


0.011


Weighted average common
shares outstanding


21,953,976


21,953,976


21,953,976


21,953,976

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2016


September 30, 2015


Cash, cash equivalents and marketable securities


836,592


650,561


Other current assets


224,650


255,182


Total current assets


1,061,242


905,743


Noncurrent assets


49,586


65,563


Total assets


1,110,828


971,306


Current liabilities


76,973


80,230


Shareholders’ equity


1,033,855


891,076


Total liabilities and equity


1,110,828


971,306

INVITRO INTERNATIONAL REPORTS OUTSTANDING FY 2015 FINANCIAL RESULTS, AND CORE TECHNOLOGY REGULATORY PROGRESS

InVitro International
Contact: W. Richard Ulmer
330 E. Orangethorpe Ave. Ste. D
(800) 246-8487
Placentia, CA 92870
http://www.invitrointl.com
Placentia, CA February 2, 2016 – Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2015 sales of $994,713, up 45% from FY 2014 comparable period. Net income leapt 774% to $232,100 and cash increased 69%

IVRO CEO & President, W. Richard Ulmer, said “The confluence of several positives in our FY 2015 business made this a special year for our company. First, official U.S. Regulatory implementation of the Global Harmonization System (GHS) continued to benefit our Corrositex test technology here and in Europe. Additionally for the first time, Ocular Irritection sales were positively impacted by GHS acceptance in Europe’s REACH program, which over several years will be re-classifying all chemicals used there. Next, our 2014 company relocation along with several new cost saving measures provided important cash growth in 2015. So now looking forward, we believe the pieces will be in place to support promotion of Ocular Irritection should it receive full OECD Regulatory adoption in the near future. Our submission continues to make solid progress in its regulatory review.”

“At InVitro we feel we are moving ever closer to our major goal of corporate sustainability. The 2015 audited financial statements support this feeling and demonstrate the impact of InVitro’s Quasi Reorganization. Because we met the required five consecutive years of profitability, effective October 2014, U.S. Generally Accepted Accounting Principles (GAAP) permitted elimination of accumulated IVRO historical operating losses; thus InVitro achieved a new financial reporting status. As we begin a new year, we remain a dedicated, determined and disciplined team in pursuit of both company and shareholder goals.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2015


2014


2015


2014


Revenues


262,302


200,173


994,714


686,118


Costs and expenses


245,296


193,008


768,531


667,865


Income (loss) from operations


 17,006


  7,165


226,183


18,253


Other income (loss)


(2,467)


3,834


5,917


8,933


Net profit (loss)


14,540


10,999


232,100


27,186


Other Comprehensive Income


– 


–  


(11,110)


996


Comprehensive Income


14,540


10,999


220,990


28,182


Profit (loss) per common share


0.001


0.001


0.011


0.001


Weighted average common
shares outstanding


21,953,976


21,866,853


21,953,976


21,886,853

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2015


September 30, 2014


Cash, cash equivalents and marketable securities


650,561


431,763


Other current assets


255,182


223,677


Total current assets


905,743


655,440


Noncurrent assets


65,563


76,400


Total assets


971,306


731,840


Current liabilities


80,230


61,754


Shareholders’ equity


891,076


670,086


Total liabilities and equity


971,306


731,840

INVITRO INTERNATIONAL REPORTS POSITIVE FINANCIAL IMPACT OF RELOCATION; FY 2014 FINANCIAL

RESULTS, AND 1ST QUARTER FY 2015 SALES JUMP
InVitro International
Contact: W. Richard Ulmer
330 E. Orangethorpe Ave. Ste. D
(800) 246-8487
Placentia, CA 92870
http://www.invitrointl.com
Placentia, CA February 3, 2015 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2014 sales of $686,400, off 3% from FY 2013 comparable period sales. Net income, however, was $27K, up 157% over last year.

IVRO CEO & President, W. Richard Ulmer, said “FY 2014 was a year of re-positioning for IVRO. Relocating the company proved exciting since we saw immediate cost savings and fully expect they will continue for several years. Then in 1st Quarter 2015 we recorded the second best quarterly sales volume in this century, $139,900, nearly 35% of our total in 2014. We attribute some of this to the published peer review paper of our Irritection™ Assay System Ocular ECVAM (European Center for the Validation of Alternative Methods) study results. They have been and are very impressive to many new sales prospects and existing customers. In addition, the imminent arrival of GHS (Global Harmonization System) in the U.S. has stimulated sales of our 23 year old Corrositex™ technology worldwide. All in all, we see FY 2014 as an important repositioning year where we’ve laid the groundwork for improved sales performance and progress toward our sustainability goal. All the while, we continued to make progress and be enthusiastic about our ECVAM/OECD Regulatory submission made at year end 2013.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2014


2013


2014


2013


Revenues


200,173


192,896


686,118


712,121


Costs and expenses


193,008


170,547


667,865


721,572


Income (loss) from operations


 7,165


  22,349


18,253


(9,451)


Other income (loss)


3,834


3,571


8,933


20,283


Net profit (loss)


10,999


25,920


27,186


10,832


Other Comprehensive Income


– 


–  


996


(16,630)


Comprehensive Income


10,999


25,920


28,182


(5,798)


Profit (loss) per common share


0.0005


0.0012


0.0012


0.0005


Weighted average common
shares outstanding


21,866,853


21,820,072


21,886,853


21,820,072

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2014


September 30, 2013


Cash, cash equivalents and marketable securities


431,763


431,115


Other current assets


223,677


231,772


Total current assets


655,440


662,887


Noncurrent assets


76,400


44,837


Total assets


731,840


707,724


Current liabilities


61,754


66,320


Shareholders’ equity


670,086


641,404


Total liabilities and equity


731,840


707,724

INVITRO INTERNATIONAL REPORTS IMPORTANT

FY 2013 & Q1 FY 2014 REGULATORY PROGRESS, SMALL NET PROFITS
InVitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
Irvine, CA January 22, 2014 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2013 sales of $712,121 and net income of $10,832. When compared to FY 2012 sales and income figures, sales were off 2.4% while net income was up 430%.

IVRO CEO & President, W. Richard Ulmer, said “Despite our small net profit, and slight sales decline, we believe FY 2013 will prove to be a significant year among InVitro International’s first 28. I say this because we reviewed and assembled test data from our international, three year, three laboratory, more than five hundred end point results validation study. This required study was designed in collaboration with the European Center for the Validation of Alternative Methods, (ECVAM). Results not only met our expectations, but in some ways exceeded them. Therefore in Q1 FY 2014 we submitted our application. We now await ECVAM Peer Review response with a great level of enthusiasm”.

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2013


2012


2013


2012


Revenues


192,896


172,260


712,121


729,780


Costs and expenses


170,547


221,284


721,572


731,791


Income (loss) from operations


 22,349


  (49,024)


(9,451)


(2,011)


Other income (loss)


3,571


(4,955)


20,283


4,051


Net profit (loss)


25,920


(53,979)


10,832


2,040


Other Comprehensive Income


– 


–  


(16,630)


18,282


Comprehensive Income


25,920


(53,979)


(5,798)


20,322


Profit (loss) per common share


0.0012


(0.0025)


0.0005


0.0001


Weighted average common
shares outstanding


21,820,072


21,565,346


21,820,072


21,565,346

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2013


September 30, 2012


Cash, cash equivalents and marketable securities


431,115


442,573


Other current assets


231,772


223,682


Total current assets


662,887


666,255


Noncurrent assets


44,837


50,265


Total assets


707,724


716,520


Current liabilities


66,320


70,143


Shareholders’ equity


641,404


646,377


Total liabilities and equity


707,724


716,520

INVITRO INTERNATIONAL REPORTS POSITIVE

1ST QUARTER FY 2013 FOLLOWING FY 2012 DECLINE
InVitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
Irvine, CA January 23, 2013 – Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2012 sales of $729,780 with net income of $2,040. These results when compared to FY 2011 were lower by 8.4% and 96% respectively.

IVRO CEO & President, W. Richard Ulmer, observed: “Although sales and profits were off in FY 2012, we are pleased to note our growth in cash and cash equivalents for the year, as well as the 10.5% uptick in 1st Quarter FY 2013 sales vs the same period last year. FY 2012 was the 3rd consecutive year of focus on our IrritectionTM Assay System Regulatory submission to the European Center For The Validation of Alternative Methods (ECVAM); we remain steadfast in our belief that pursuit of that acceptance is our best strategic direction. And there is good progress to report on this front as we’ve just recently completed the hundreds of tests in each of three domestic and international laboratories. Though much work is still before us, early results appear very encouraging for our 25+ year old ocular core non-animal testing technology.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2012


2011


2012


2011


Revenues


172,260


181,614


729,780


796,673


Costs and expenses


221,284


195,364


731,791


764,624


Income (loss) from operations


 (49,024)


  (13,750)


(2,011)


32,049


Other income (loss)


(4,955)


6,963


4,051


13,483


Net profit (loss)


(53,979)


(6,787)


2,040


45,532


Profit (loss) per common share


(0.0025)


(0.0003)


0.0001


0.0023


Weighted average common
shares outstanding


21,565,346


19,689,658


21,565,346


19,689,658

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2012


September 30, 2011


Cash, cash equivalents and marketable securities


442,573


394,895


Other current assets


273,947


224,491


Total current assets


716,520


619,386


Noncurrent assets


 


56,689


Total assets


716,520


676,075


Current liabilities


70,143


51,395


Shareholders’ equity


646,377


624,680


Total liabilities and equity


716,520


676,075

INVITRO INTERNATIONAL REPORTS RETURN TO INCREASED SALES & PROFITS IN FY 2011

InVitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
Irvine, CA January 18, 2012 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2011 sales of $796,673 and net profits of $34,091. These results when compared to FY 2010 are nearly $80,000 higher in sales and nearly $30,000 higher in net profits. IVRO CEO & President, W. Richard Ulmer, said: “FY 2011 sales of almost $800,000 were our highest in 15 years; we feel both pleased and gratified with the return to solid gains in sales and profits. Timing was very important to us as we continued heavy R&D spending on multi-laboratory European Regulatory testing. Although somewhat delayed, our goal remains submission and government acceptance of our more than 20 year old non-animal eye and skin irritation test technologies.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2011


2010


2011


2010


Revenues


181,614


157,276


796,673


716,881


Costs and expenses


195,364


225,617


764,624


730,069


Income (loss) from operations


 (13,750)


  (68,342)


32,049


(13,188)


Other income (loss)


6,963


5,240


13,483


19,409


Net profit (loss)


(6,787)


(63,102)


45,532


6,221


Profit (loss) per common share


(0.0003)


(0.004)


0.0023


0.0001


Weighted average common
shares outstanding


19,689,658


17,824,809


19,689,658


17,824,809

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2011


September 30, 2010


Cash, cash equivalents and marketable securities


394,895


369,685


Other current assets


224,491


209,341


Total current assets


619,386


579,026


Noncurrent assets


56,689


52,801


Total assets


676,075


631,827


Current liabilities


51,395


59,188


Shareholders’ equity


624,680


572,639


Total liabilities and equity


676,075


631,827

INVITRO INTERNATIONAL REPORTS 1ST QUARTER FY 2010

SALES JUMP 24% FOLLOWING FY 2010/2009 DECLINE

Irvine, CA January 19, 2011 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2010 sales of $716,881 and net profits of $6,221. These results when compared to FY 2009 were 5% lower in sales and 88% lower in profits. IVRO CEO & President, W. Richard Ulmer, said about the year: “Overall FY 2010 results were disappointing. While timing may explain much of our small sales decline, we expected more in sales. We budgeted the approximate doubling of R&D spending, but did not project this level of impact on short term profits. We feel both rewarded and thankful that 1st Quarter FY 2011 sales reached $224,094, +24% 2011/2010, and a level we have not seen for 13 or 14 years. We will continue our progress toward required multi laboratory European Regulatory testing and then subsequent European Center for the Validation of Alternative Methods (ECVAM) submission in 2011. Management remains dedicated and determined to achieve broader and greater levels of acceptance of its non-animal testing technologies”.

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2010


2009


2010


2009


Revenues


157,276


215,900


716,881


755,513


Costs and expenses


225,617


237,087


730,069


713,082


Income (loss) from operations


 (68,342)


  (21,187)


(13,188)


42,431


Other income (loss)


5,240


2,698


19,409


8,428


Net profit (loss)


(63,102)


(18,489)


6,221


50,859


Profit (loss) per common share


(0.004)


(0.001)


0.0001


0.003


Weighted average common
shares outstanding


17,824,809


16,885,083


17,824,809


16,885,083

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2010


September 30, 2009


Cash, cash equivalents and marketable securities


369,685


360,660


Other current assets


209,341


204,837


Total current assets


579,026


565,497


Noncurrent assets


52,801


52,886


Total assets


631,827


618,383


Current liabilities


59,188


51,965


Shareholders’ equity


572,639


566,418


Total liabilities and equity


631,827


618,383

INVITRO INTERNATIONAL FY 2009 SALES REACH HIGHEST LEVEL IN 12 YEARS

InVitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
Irvine, CA January 13, 2010 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2009 sales of $755,513 and net profits of $50,859. These results when compared to FY 2008 were up 8.5% in sales, and 26% lower in profits. IVRO CEO & President, W. Richard Ulmer, summarized the year by saying: “We were very pleased to show a solid sales increase given the conditions of the U.S. and global economies. Such progress, we believe, reflects the increases in non-animal testing in general and more specifically acceptance of our InVitro International offerings. Furthermore, such gains allow us to continue our increased R&D and Regulatory spending. We made good progress in 2009 with our European regulatory submission and acknowledge with much gratitude the contribution made by our partner, ResPharma, in Italy. We remain optimistic regarding both our current and the future acceptance of our now 25 year old company technologies”.

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2009


2008


2009


2008


Revenues


215,900


213,386


755,513


696,560


Costs and expenses


237,087


200,493


713,082


640,359


Income (loss) from operations


 (21,187)


 12,892 


42,431


56,201


Other income (loss)


2,698


2,310


8,428


11,230


Net profit (loss)


(18,489)


15,203


50,859


67,431


Profit (loss) per common share


(0.001)


0.001


0.003


0.004


Weighted average common
shares outstanding


16,885,803


16,824,809


16,885,083


16,824,809

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2009


September 30, 2008


Cash, cash equivalents and marketable securities


360,660


332,665


Other current assets


204,837


201,949


Total current assets


565,497


534,614


Noncurrent assets


52,886


47,814


Total assets


618,383


582,428


Current liabilities


51,965


74,371


Shareholders’ equity


566,418


508,057


Total liabilities and equity


618,383


582,428

INVITRO INTERNATIONAL RECORDS HEALTHY FY 2008 SALES & PROFIT RESULTS

InVitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
Irvine, CA January 13, 2009 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2008 sales of $696,560 and net profits of $67,431. These results followed FY 2007 sales of $741,714 and profits of $69,273. IVRO CEO & President, W. Richard Ulmer, observed: “Although FY 2008 sales were 6% lower than those of ’07, we feel that comparison does not reflect much of our true progress in the last year. For example, we had significant yearend sales activity which carried over to make the first Quarter FY 2009 our best first Quarter since 1996. In additional significant FY 2008 activity, InVitro and our European partner (ResPharma) completed the preparation, review, and submission of our Irritection Assay System (Ocular) formal European Regulatory package at the very end of the year. And importantly, InVitro continued its increased Research & Development spending while also increasing operating margins. In summary, FY 2008 added to our level of excitement about our competitive position as well as the future of invitro testing throughout the world.”

This release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30


Twelve months ended
September 30


2008


2007


2008


2007


Revenues


213,386


244,979


696,561


741,714


Costs and expenses


200,493


236,697


640,362


680,310


Income (loss) from operations


12,892


8,282


56,199


61,404


Other income (loss)


2,310


1,938


8,948


7,869


Net profit (loss)


15,203


10,220


65,147


69,273


Profit (loss) per common share


0.001


0.001


0.004


0.004


Weighted average common
shares outstanding


16,824,809


16,824,809


16,824,809


16,824,809

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2008


September 30, 2007


Cash, cash equivalents and marketable securities


332,665


270,868


Other current assets


201,949


178,636


Total current assets


534,614


449,504


Noncurrent assets


47,814


53,369


Total assets


582,428


502,873


Current liabilities


74,371


62,245


Shareholders’ equity


508,057


440,628


Total liabilities and equity


582,428


502,873