Income Statement:
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
For the three months ended For the six months ended
September 30, September 30,
2003 2002 2003 2002
$ $ $ $
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Revenues:
Products 1,036,071 180,969 2,047,042 665,471
Services 61,844 109,321 204,864 176,326
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1,097,915 290,290 2,251,906 841,797
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Cost of revenues:
Products 893,729 1,155,197 1,863,701 2,075,723
Services 68,684 33,031 181,845 98,447
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962,413 1,188,228 2,045,546 2,174,170
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Gross profit (loss) 135,502 (897,938) 206,360 (1,332,373)
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Operating expenses:
Selling and administrative 385,101 1,056,998 764,527 2,044,261
Research and related expenditures 476,140 419,340 676,805 803,495
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Total operating expenses 861,241 1,476,338 1,441,332 2,847,756
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Operating loss (725,739) (2,374,276) (1,234,973) (4,180,129)
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Other income (expense):
Interest income -- 565 -- 1,601
Interest expense (28,273) (299,867) (63,438) (504,346)
Loss on disposal of asset -- -- (36,714) --
Other income -- -- -- 67,014
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Other income (expense) (28,273) (299,302) (100,152) (435,731)
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Loss and comprehensive loss for the period (754,013) (2,673,578) (1,335,125) (4,615,860)
Accrued dividends on the Series D Preferred stock (61,500) -- (123,000) --
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Loss attributable to common stockholders (815,513) (2,673,578) (1,458,125) (4,615,860)
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Loss per common share - basic and diluted (0.01) (0.02) (0.01) (0.03)
=============================== ==============================
Weighted average common shares outstanding 154,882,753 138,025,421 151,993,493 136,515,851
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