Immunoclin Corporation (fka IMCL)

[Art Vandeley]

For the Six Months Ended July 31, 2014 (“2014”) as Compared to the Six Months Ended July 31, 2013 (“2013”):

For 2014 and 2013, the Company earned $0 revenues.

For 2014, the Company incurred $1,792,581 of operating expenses compared to $262,102 for 2013. This increase is due to the following major changes in operating expenses:

(v)
Amortization increased to $776,923 in 2014 from $0 in 2013. This increase is the result of amortization on R&D and patent intangibles acquired with ImmunoClin Limited on December 13, 2013 for 2014. There were no intangibles to amortize in 2013.

(vi)
Management and consulting fees increased to $686,127 for 2014 compared to $171,910 for 2013, which was the result management and consulting contracts entered at the end of fiscal 2014 and relating stock-based compensation and management fees.

(vii)
General and administrative expenses increased from $48,734 in 2013 to $195,150, representing an increase of $146,416. This increase was due to increased operating activity and related G&A expenses in 2014 as compared to 2013.

(viii)
Research and development expenses increased to $32,458 in 2014 as compared to $25,326 for 2013, representing an increase of $7,132. This increase was due to increased laboratory and clinical work and related expenses on development of patents and products in 2014 as compared to 2013.

For the six months ended July 31, 2014 and 2013, the Company had a loss per share of $0.07 and $0.00, respectively.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10225125