GENEX PHARMACEUTICAL (GENX)

[MikeDDKing]

The EPS for the most recent quarter and nine months are $0.010 and $0.26 respectively. They started paying taxes this quarter. Income before taxes on a nine month basis is virtually the same. Income before taxes is slightly down in the most recent quarter.

                                     GENEX PHARMACEUTICAL, INC. AND SUBSIDIARY  
  
                                  CONSDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  
                            (Amounts expressed in US dollars, except number of shares)  
                                                   (Unaudited)  
  
          For the three months periods ended September 30,    For the nine months periods ended September 30,  
   
       
                             2006                2005                           2006               2005  
 Sales                   $620,357            $715,643                     $1,759,191         $1,664,577 
 Cost of goods sold       (73,946)            (65,443)                      (183,267)          (165,199) 
 Gross profit             546,411             650,200                      1,575,924          1,499,378  
  
 Operating expenses  
   Selling expenses      (135,792)           (119,559)                      (459,483)          (343,748) 
   General and        
   administrative 
   expenses               (95,226)           (200,381)                      (431,787)          (466,468) 
   Research and 
   development costs      (63,437)                  -                        (63,437)                 -  
  
 Income from operations   251,956             330,260                        621,217            689,162 
    
 Other income  
   Interest income, net    45,800              21,210                        123,936             50,790 
   Other income                 9                   1                              9              3,746 
 Total other income        45,809              21,211                        123,945             54,536  
   
    
 Income before income tax 297,765             351,471                        745,162            743,698 
 Income tax              (113,441)                  -                       (275,191)                 -  
   
  
 Net income              $184,324            $351,471                       $469,971           $743,698  
  
 Weighted average 
 shares outstanding  
  - basic and diluted  17,845,732          17,845,732                     17,845,732         17,845,732 
   
  
 Basic and diluted 
 net income per share      $0.010              $0.020                         $0.026             $0.042