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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

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