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Sputnik

05/16/05 4:28 PM

#34 RE: Betababe #33

Betababe

Late again, late again with the 10Q!

The net loss for the quarter ended March 31, 2005 was $57,842, compared to a net loss of $628,180 for the quarter ended March 31, 2004. The difference is primarily to a $397,296 credit to research & development expenses due to the write-off of an accrued liability to West Virginia University pursuant to a legal settlement.