Cadus Reports 2011 Results
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 03/30/12 -- (OTCBB: KDUS) announced today financial results for the full year ended December 31, 2011.
Revenues for the full year 2011 were $0, compared to $100,000 for the full year 2010. Net loss for the full year 2011 was $503,391, compared to net loss of $400,812 for the full year 2010. Basic and diluted net loss per share for the full year 2011 was $0.04, compared to basic and diluted net loss per share for the full year 2010 of $0.03. The increase in net loss is attributable to no license fees received in 2011 as compared to a license fee in 2010 of $100,000, a decrease in interest income of $15,534, an increase in loss from equity in other ventures of $184, costs in connection with an abandoned potential acquisition of $59,177, a decrease in miscellaneous income of $3,752, an increase in franchise tax of $3,340, offset by a decrease in general and administrative expenses of $79,408.
As of December 31, 2011, Cadus had 13,144,040 shares outstanding.
This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's annual report on Form 10-K for the year ended December 31, 2011. These include risks and uncertainties relating to the company's ability to license its technologies to third parties, the company's capital needs and uncertainty of future funding, the company's history of operating losses, the unpredictability of patent protection and the risk of obsolescence of the company's technologies.
Contact:
David Blitz
(212) 575-7800
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Datum: 30.03.2012 - 14:02 Uhr
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News-ID 130457
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