During the third quarter, the company reported a net loss of US$ 476,528 or US$ 0.02 per common share. For the nine-month period ended September 30, 2008, the company reported a net loss of US$ 762,641 or US$ 0.03 per common share.
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There are no prior period financial results for comparative purposes. The company is a development stage enterprise, and as such does not currently generate revenue. Operating costs were US$ 476,528 for the quarter and US$ 762,641 for the nine-month period ended September 30, 2008, and consisted of salaries and benefits, general and administrative expenses, and professional fees associated with the development of the Company's Vindicator LWS system. At quarter-end, the Company had approximately US$ 12.6 million of cash and cash equivalents on hand. Total assets at September 30, 2008, were US$ 14.4 million, which include its cash balances.