New ETF Book by Larry Connors - Click here to read more
For the year ended March 31, 2009 the Company had a net loss of $16,705,151 compared to a net loss of $4,564,054 for the year ended March 31, 2008. Notably, the significant increase in loss for fiscal 2009 was due largely to $10,846,573 of non-cash accounting charges related to the restructuring of debt and the related re-pricing of warrants and debt issued to its two largest creditors. An additional $3,171,685 of the loss was non-cash accounting charges related to debt discounts and valuations of stock and warrants issued in lieu of cash payments on the debt. Please refer to the Form 10-K for a more complete description of the financial results of the Company.
Larry Stambaugh, Chairman and CEO of CryoPort, commented, "This has been a year of progress and building the foundation for the Company, including recently establishing the India refurbishing and staging site. As part of our effort to prepare for commercialization of the CryoPort Express, we have established our first remote refurbishing and staging center near New Delhi India. This location was selected because of the trend by many life sciences companies moving clinical trials to Asia and especially India. We are preparing for the need to have a site near this growth to serve our future customers with shippers that can be delivered within 24 hours to their clinical sites and laboratories.
"While the revenues for last year are not significant, we have laid groundwork for the future success of the Company and the CryoPort Express(TM) System. We recently announced our agreement with FedEx to be able to provide an innovative and breakthrough frozen shipment solution for selected customers in the life science industry. This is part of our continuing plan to advance CryoPort to full commercialization.
"In addition, the Company continues to receive support in the public markets through direct investments. Over the last several months, we have raised over $1 million, which is helping us bridge the gap until we achieve our larger planned financing and growth in sales and are generating positive cash flow. The Company has engaged an investment banking firm to secure larger financing to support the commercialization plans."
To be added to the CryoPort Investor email list, please email edward@carpedminc.com with CYRX in the subject line.
About CryoPort, Inc.
CryoPort (www.cryoport.com) develops a leading edge, proprietary, technology-driven transport and packaging system focused on providing a solution for the frozen shipping market in the growing global biotechnology and Pharmaceutical industries. The products developed by CryoPort are essential components of the infrastructure required for the testing, research and end user delivery of temperature-sensitive medicines and biomaterials in an increasingly complex logistical environment.
"SAFE HARBOR"
This press release contains forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Contact: Stuart Fine Carpe DM, Inc. 908-469-1788
SOURCE: CryoPort, Inc.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
