Synergetics, Inc. (fka SYNG)

[thecrusher2011]

As of May 31, 2011, our cash balance was $37,808, as compared to $11,785 for the fiscal year ended August 31, 2010. Accounts Receivable increased to $69,008 as at which includes $7,092 goods and services tax receivable from the Canadian Government and $61,916 in customer receivables, compared to $28,526 at August 31, 2010. We have total current assets of $107,326 as at May 31, 2011 as compared to total current assets of $40, 718 at August 31, 2010. This increase is related primarily to an increase in cash and accounts receivable for May 31, 2011 over August 31, 2010. The increase in accounts receivable is related to the growth in sales for the nine month period ended May 31, 2011.