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ARIUS announces second quarter fiscal 2008 financial results
Date:7/11/2008

rred costs - - 55,055

Leasehold inducements (10,372) (10,371) (76,896)

Loss on disposal of equipment - - 23,532

Write-off of leasehold

improvements - - 86,349

Write-off of receivable 42,109 - 42,109

Leasehold inducement - - 89,148

Non-cash stock-based

compensation 696,818 224,036 2,497,496

Accretion of convertible

debentures - - 429,905

Loss on extinguishment of

debt - - 782,143

Services received for common

shares - - 400,024

Write-off of investment - - 20,000

Interest expense paid in

common shares - - 140,032

Change in non-cash operating

working capital items 109,584 549,700 4,388,693

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(2,883,805) (2,187,703) (28,590,883)

Financing activities:

Issue of shares, warrants and

units, net of issuance costs 305,486 - 38,587,264

Issuance of convertible bridge

loan, net - - 2,196,619

Repayment of convertible bridge

loan, including costs - - (2,408,886)

Exercise of compensation

warrants - - 1,706,027

Exercise of stock options 118,825 153,917


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SOURCE ARIUS Research Inc.
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