George,
Thanks. I realize my selling at .85 constitutes a slight loss. I staggered several sells at increasing levels hoping to help ride the stock up to where I could come out ahead.
I received the email as well---here it is for all to read:
TSE & VSE: "HBP"
JUNE 30, 1997
HELIX BIOPHARMA NEWS RELEASE
215 - 7080 RIVER ROAD
RICHMOND, B.C.
CANADA V6X 1X5
PHONE (604) 270-7468
FAX (604) 270-8208
TOLL FREE 1-800-563-4363
HELIX BIOPHARMA CORP. REPORTS NINE MONTH 1997 RESULTS
(RICHMOND, B.C.) - Helix BioPharma Corp. (TSE/VSE: HBP) today
announced its financial results for the nine month period ended April 30,
1997.
Overall revenues rose slightly, to $5.963 million from $5.956 million for the
same period last year. The continued steady growth in sales for the
Company's DNA testing division was offset to some extent during the
period by a modest decline in revenue from the laboratory products
distribution division. Pharmaceutical sales posted only a marginal
increase as the launch of certain products continued to be delayed by
the slower than expected regulatory approval process.
For the nine months ended April 30, 1997, the net loss was $1,982,449
compared with a net loss of $39,717 for the nine months ended April 30,
1996, with total operating expenses in the first nine months of the
current fiscal year having increased to $7,386,675 from $5,583,867 for
the same period in the previous year. The additional expenses incurred
in the 1997 fiscal year were primarily the result of:
* increased research and development activities and related
administration costs;
*administration costs associated with the PharmaDerm Laboratories R&D
and licensing agreements completed in the third quarter;
* a one-time restructuring carried out in the second quarter to address
the performance of the laboratory products division;
* increased marketing activities in the growing DNA testing division; and
* increased marketing activities for current and future launches of
pharmaceutical products.
Cash and treasury bills amounted to $3,715,846 at April 30, 1997,
compared to $625,721 at April 30, 1996. The increase was primarily due
to the Company's special warrant financing completed in the first quarter
of the 1997 fiscal year. In addition, prepaid expenses increased to
$335,668 as at April 30, 1997 from $47,252 as at April 30, 1996, mainly
due to prepayments of research and development expenses, license
fees and royalties in connection with the development and exploitation of
PharmaDerm Laboratories' Drug Delivery System technology.
Pursuant to the Company's Employee Share Purchase Plan, a total of
33,000 share were issued during the third quarter of the 1997 fiscal year
to employees of the Company at a deemed value of $46,200 or $1.40 per
share.
Helix BioPharma Corp. is an emerging health-care company focused on
the development and commercialization of pharmaceuticals and other
biomedical technologies. Headquartered in Richmond, B.C., the Company
has offices across Canada and internationally in Ireland, and is
publicly-traded on the Toronto Stock Exchange.
Selected Financial Highlights
(Unaudited) All figures in $Cdn.
9 months Ended April 30
1997 1996
Revenue $ 5,962,814 $ 5,956,546
Expenses 7,386,675 5,583,867
Earnings (1,523,861) 372,679
Research & Development 558,588 384,662
Net Earnings (1,982,449) (39,717)
As At April 30
1997 1996
Current Assets
Cash and Treasury Bills $ 3,715,846 $ 625,721
Prepaid expenses and other 335,668 47,252
Capital Assets 516,374 312,578
Other Assets 811,437 945,292
Total Assets 7,090,090 3,609,605
Shareholders' Equity
Share Capital 9,072,124 2,876,521
Deficit (3,429,978) (1,139,725)
Total Shareholders' Equity 7,090,090 3,609,605
Dated at Richmond, B.C. this 30th Day of June, 1997.
ON BEHALF OF THE BOARD
Terrance G. Owen, Ph.D., M.B.A., President
The Toronto and Vancouver Stock Exchanges have not reviewed and
does not accept responsibility for the adequacy of the content of the
information contained herein.
Helix BioPharma trades on the TSE and VSE under the symbol "HBP"
Investor Contact:
Jason Van Bergen
Helix BioPharma Corp.
Tel: (604) 270-7468
Fax: (604) 270-8208
E-mail: invrelations@helixbiopharma.ca
Web site: helixbio.com
Media Contact:
Sarah Temple
Barr & Wilcox Group
Tel: (604) 488-1100
Fax: (604) 488-1122
E-mail: bwgroup@axionet.com
Web site: newshook.com |
