IRVINE, Calif., Aug. 12 /PRNewswire-FirstCall/ -- ChromaDex Corporation, (OTC Bulletin Board: CDXC) a leader in phytochemical reference standards and contract research, today announced financial results for the second quarter of 2008. On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), ChromaDex announced a net loss attributable to common stockholders of $0.03 per share for the three months ended June 28, 2008.
As of June 28, 2008, cash, cash equivalents, and marketable securities totaled approximately $2.4 million. Balance sheet cash, cash equivalents and marketable securities includes all but approximately $1.1 million in proceeds from the final closings of the $4.6 million private placement the Company and its subsidiary just concluded.
"The second quarter of 2008 was significant for ChromaDex," said Frank Jaksch (http://www.chromadex.com/AboutCDX/fjaksch.html), CEO and co-founder of ChromaDex. "We successfully completed a reverse merger acquisition of Cody Resources, Inc. a publicly quoted company on the OTCBB. We did this in order to reap the benefits of public ownership including the ability to enhance our visibility with customers and prospective customers and access to potential new avenues for capital formation. Collectively, we believe this better positions ChromaDex to help us grow and expand to meet the significant and growing needs of customers. In the second half of 2008, we will be focused on expanding our range of products and services to the market."
Additional Financial Results & Notes
On a reported basis, ChromaDex recorded revenue during the second
quarter of 2008 of $1,198,885 as compared to $997,087 for the same period
in 2007. The net loss attributable to common stockholders for the three
months ended June 28, 2008, was $621,676 as compared to $113,926 for the
same period in 2007. The
|SOURCE ChromaDex Corporation|
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