TORONTO, Aug. 22 /CNW/ - Theralase Technologies Inc. (TSXV: TLT & OTC BB:
TLTFF) presents unaudited interim financial results for the 6 months ended
June 30th, 2007.
3 months ending 6 months ending
June 30 June 30
2007 2006 2007 2006
Total revenues 431,133 413,410 829,277 747,754
Net (loss) Income (95,177) 55,615 (170,258) 130,134
Revenues totaled $431,133 for the three month period ended June 30th,
2007, a 4% increase over the $413,410 in revenues reported for the same period
last year. Revenue was lower than expected due to the strengthening Canadian
dollar adversely affecting US sales and the training of additional sales
Cost of sales for the current period under review was $104,849, resulting
in a gross profit, before expenses, of $326,284 for an operating margin of
76%, compared with a 78% margin for the same period last year.
Expenses increased by 56% for the current period under review to $422,526
from $271,278, as the Company increased the depth of personnel in the sales,
production and finance departments, accelerated our marketing efforts in the
US market and took a non-cash expense of $55,816 for stock based compensation.
Development costs, totaled $34,591 for the three months ending June 30,
2007, compared to $3,529 for the same period in 2006. The increase in
development costs for the current period under review are due to two factors;
the development of the TLC-2000 biofeedback technology and the development of
the 3 lead photo dynamic compounds for the TLC-3000 photo dynamic technology
The Company reported a loss of $95,177 for the three month period ended
June 30th, 2007, but after accounting for non cash expenses such as
amortization and stock-based compensation, the Company would have reported a
positive contribution of $2,118.
Corporate developments during the period:
Biofeedback Laser Technology Advance
Theralase's patented TLC-2000 biofeedback technology established a new
standard in the therapeutic laser marketplace by introducing technology that
is able to precisely target tissue to within a millimeter with an exact dosage
of energy; hence, dramatically improving the efficacy of patient based
treatments. The TLC-2000 is also a learning device that memorizes successful
laser dosages and transmits these to all users through a Theralase proprietary
HIPAA compliant central databank. Theralase is in the alpha prototype stage of
the project and is targeting introduction of the TLC-2000 biofeedback
technology to the international medical market in the 2nd quarter 2008.
Cancer Therapy and Wound Healing
On July 23rd, 2007, Theralase in conjunction with University Health
Network (UHN) and the Ontario Centres of Excellence's (OCE) Centre of
Excellence for Photonics commenced a two year project focused at harnessing
the energy of these PDC's with the power of the patented Theralase laser
technology in the destruction of cancer, bacterium (wound healing), viruses
and fat cells. Analysis of the PDC's commenced 3rd quarter 2007, with initial
results expected 1st quarter 2008. Commencement of the Theralase TLC-3000
laser system to activate the compounds is scheduled to commence 2nd quarter
Corporate Office Relocation
Effective August 3rd, 2007, Theralase Technologies Inc. relocated its
corporate offices to 29 Gervais Drive, Suite 102, Toronto, Ontario, M3C 1Y9,
Canada. This 6500 square foot facility, located in the Don Mills/Eglinton area
of Toronto, will provide corporate premises for the Theralase rehabilitation
center, a multidisciplinary therapeutic laser rehabilitation and training
center open to the general public and the Theralase ISO-13485 laser design and
manufacturing center. These new premises allow Theralase the ability to expand
operations to keep pace with our accelerating growth, while also allowing
easier access to our customers and supply base.
Private Placement Financing
On August 15th, 2007, Theralase Technologies Inc., closed a non-brokered
private placement which raised gross proceeds of $850,000 by issuing 1,700,000
units to investors at a price of $0.50 per unit. Each unit consists of 1
common share and 1/2 of a non-transferable common share purchase warrant.
Each whole warrant entitles the holder thereof to purchase 1 additional common
share at a price $0.75, until August 15th, 2008. All common shares sold under
this private placement, including shares issuable upon the exercise of the
warrants, are restricted from trading until December 16th, 2007. Two
registered dealers were paid cash commissions totaling $25,550 in connection
with the private placement.
For detailed financial statements for the period, including Management
Discussion and Analysis, please refer to our corporate website at
www.theralase.com or regulatory website at www.sedar.com.
Theralase Technologies Inc. designs, develops and manufactures patented,
super-pulsed laser technology used in a wide range of bio-stimulation and
bio-destruction clinical applications. The Theralase technology platform
targets several diverse healthcare sectors -- firstly, for non-invasive pain
management and clinical therapy, in hundreds of neural muscular skeletal
conditions, including arthritis -- secondly, to bio-stimulate and accelerate
wound care and healing, including; bone fracture regeneration and
osteoarthritic conditions -- and thirdly, combining photodynamic compounds
with super-pulsed, biofeedback laser technology to attack specifically
targeted cancers, bacterium, viruses and fat cells.
For a complete profile of TheralaseTM Technologies Inc. and its products
visit www.theralase.com or visit the regulatory website at www.sedar.com.
This press release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from those projected herein. The Company disclaims any obligation
to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
For further information:
For further information: Roger White, President & CEO, Toll Free:
1-866-THE-LASE (843-5273), Phone: (416) 447-8455, e-mail: