ChromaDex, Inc. Reports Second Quarter 2010 Financial Results
As of July 3, 2010, cash, cash equivalents, and marketable securities totaled $3,381,744.
"ChromaDex is continuing to position ourselves to take advantage of the unique product offerings we have acquired and will continue to develop novel ingredients for dietary supplement, food and related industries," said Frank Jaksch, CEO and co-founder of ChromaDex. "By continuing to license technology that ChromaDex believes has a strong future potential to be marketed to many industry segments, we will be able to offer our customers and consumers significant new options in the field of natural products."
Additional Financial Results & Notes
On a reported basis, ChromaDex recorded revenue during the second quarter of 2010 of $2,033,861 as compared to $1,342,716 for the same period in 2009. The net loss attributable to common stockholders for the thirteen weeks ended July 3, 2010, was $303,529 as compared to a net loss of $291,100 for the same period in 2009. The net loss in the second quarter of 2010 was attributable an increase in share based compensation expenses of $230,858 as compared to a $50,830 versus the same period in 2009, and an adoption of a formal investor relations program to increase market and shareholder awareness.
ChromaDex is a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property. ChromaDex is committed to sustainable "green chemistry" and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the novel ingredients, analytical tools and services to meet product regulatory, quality, efficacy and safety standards. Among other things, the Company is currently focusing on clinical studies and the commercialization of its new product, pTeroPure pterostilbene (www.pteropure.com) as a result of its exclusive worldwide patent rights for pterostilbene. For more information, visit www.chromadex.com or follow ChromaDex on Twitter @ChromaDex.
Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to: the ability to market, produce and sell the referenced ingredients; risks relating to product and customer demand, market acceptance of our products; the effect of economic conditions both nationally and internationally; the ability to protect our intellectual property rights; the impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; our ability to raise capital to fund continuing operations; the ability to complete transactions; and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
Liviakis Financial Communications, Inc.
John M. Liviakis, President
Administrative Assistant to the CEO
10005 Muirlands Blvd, Suite G, Irvine, CA 92618
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ChromaDex Corporation and Subsidiaries
Consolidated Statements of Operations (Unaudited)
For the Three Month Periods ended
Three Months Ended
July 3, 2010
July 4, 2009
Cost of sales
Sales and marketing
General and administrative
Nonoperating (income) expenses:
Basic and Diluted loss per common share
Basic and Diluted average common shares outstanding
See Notes to Consolidated Financial Statements.
SOURCE ChromaDex Corporation