hört sich doch zumindest nicht so gut an...bzw. wo nehmt ihr den optimismus..her..:-)...
ROCHESTER, NY—MAY 17, 2007 – Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation biomedical technology, today announced the results of their operations for the fiscal year ended February 28, 2007.
Revenues for the year ended February 28, 2007 were $0.990 million compared to $1.045 million in 2006. Fiscal 2007 revenues consisted of $0.563 million in license fees and $0.427 million from MRI testing services and consulting fees. This compares to $0.704 million in development payments and license fees from licensing agreements and $0.341 million from MRI testing services and consulting fees for the same period last year. Revenue for the fourth quarter of fiscal 2007 was $0.108 million as compared to $0.515 million for the same period of 2006.
Net loss for the year ended February 28, 2007 was $17.7 million or $(0.23) per share as compared to $14.5 million or $(0.19) per share for fiscal 2006. Net loss for fiscal years 2007 and 2006 included non cash charges totaling approximately $9.0 million and $5.7 million respectively. These charges were related to the accounting for stock options, amortization of Myotech, LLC patents, and the accounting for the senior secured convertible note of $7.25 million. Net loss for the fourth quarter of fiscal 2007 was $5.5 million or $(0.07) per diluted share as compared to a net loss of $2.7 million or $(0.03) per diluted share for the fourth quarter of fiscal 2006.
Mr. Stan Yakatan, Director and member of Biophan’s Executive Committee, stated, “When you exclude non cash charges from the net loss for the fiscal years 2006 and 2007, operating expenses remained consistent on a yearly basis. The management will continue to strive to keep costs down, as is evident by the decrease in the burn rate from $1.0 million per month in the fourth quarter of fiscal 2006 to $0.70 million per month in the fourth quarter of fiscal 2007. Going forward our goal is to limit future monthly expenses to $0.25 million per month through cost cutting initiatives including staff reductions. Establishing the right corporate direction and reducing costs throughout the organization will remain the primary focus in our effort to achieve top line revenue growth and ultimately, future profitability.”
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