Toronto, Ontario – May 30, 2013, Theralase Technologies Inc. (TSXV:
TLT) released its first quarter 2013 financial results today, demonstrating an
increase in profitability by 27% year over year, while successfully advancing
its patented therapeutic laser and cancer destruction technologies .
Total revenue for the three months ended March 31, 2013 decreased to
$342,900 from $448,359 for the same period in 2012, a 24% decrease.
Selling expenses decreased by 42%, to $109,391 from $188,390 for the
same period in 2012. The percentage decrease was due to reduced spending on
salaries on sales personnel and a reduction in marketing costs.
Administrative expenses decreased by 19% to $249,767 from $309,213 for
the same period in 2012. The decrease in
administrative expenditures is due to reductions in administrative personnel
compensation, stock based compensation and rent.
Research and development costs decreased to $199,597 from $249,158 for
the same period in 2012. This represents a 20% decrease in expenditures, due to
the approaching completion of research and development costs of the patented
TLC-2000 therapeutic laser technology.
The net loss for three month period ended March 31, 2013 was $332,435,
which included $56,829 of net non-cash expenses compared to a net loss in 2012
of $453,285, which included $84,313 of net non-cash expenses, demonstrating an
improvement of 27% year over year.
The net loss is a reflection of the ongoing commitment of Theralase to
invest in the next level of therapeutic laser and cancer destruction
technologies, from existing therapeutic laser sales.
“Theralase is preparing for the launch of its next generation patented
TLC-2000 biofeedback therapeutic laser technology in 4Q2013 that will
revolutionize the therapeutic laser industry,” stated Roger Dumoulin-White,
President and CEO of Theralase. “In
addition our cancer technology has evolved past the proof of concept stage and
is now being readied for investigation in the destruction of bladder cancer in
humans in 2014.
About Theralase Technologies Inc.
Theralase Technologies Inc. designs, manufactures and markets
patented, superpulsed laser technology used in healing injured tissue and
destroying cancer. Theralase technology
is safe and effective in eliminating pain, reducing inflammation and
accelerating tissue regeneration of numerous nerve, muscle and joint injuries.
Theralase is actively developing patented technology that is able to target and
destroy cancers, bacteria and viruses when light activated.
The complete interim consolidated financial statements and MD&A
for three month period ending March 31, 2013 may be viewed at www.theralase.com
and 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchanges) accepts
responsibility for the adequacy or accuracy of this release.
For More Information, please contact:
Roger Dumoulin - White,
President & CEO
416-699-LASE (5273) ext. 225
rwhite@theralase.com
Kristina Hachey
Chief Financial Officer
416-699-LASE (5273) ext. 224
khachey@theralase.com
Greg Bewsh
Director of Investor Relations
416-699-LASE (5273) ext. 258
gbewsh@theralase.com
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