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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Diversinet Corp. | TSXV:DIV | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
TORONTO, April 26, 2013 /CNW/ - Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF), a leader in secure mobile health that "Powers Care Coordination through Mobility," reported its first quarter 2013 results for the period ended March 31, 2013. All dollar amounts are in U.S. dollars.
Financial Highlights
Revenues for the first quarter were $304,000, compared to $282,000 in
the same period a year ago. Deferred revenues for the first quarter
were $110,000, compared to $134,000 in the same period a year ago.
Net loss in the first quarter was $989,000 or $(0.02) per share, compared to $1.4 million or $(0.03) per share in the same period a year ago. First quarter 2013 net loss included non-cash items of $65,000 in stock-based compensation, $10,000 in depreciation, and a foreign exchange loss of $20,000. This compares to non-cash items in the same year-ago quarter of $135,000 in stock-based compensation, $15,000 in depreciation, and a foreign exchange loss of $7,000.
Cash and cash equivalents were $2.3 million at March 31, 2013 and $3.2 million at December 31, 2012.
Operational Highlights
Financial Summary
Q1 2013 | Q1 2012 | |||
Revenues | $303,612 | $281,911 | ||
Cost of revenues | 24,237 | 19,828 | ||
Gross margin | 279,375 | 262,083 | ||
Expenses | ||||
Research and development | 456,827 | 791,012 | ||
Sales and marketing | 269,092 | 331,684 | ||
General and administrative | 513,526 | 549,697 | ||
Depreciation | 10,358 | 14,798 | ||
1,249,803 | 1,687,191 | |||
Loss before the undernoted | (970,428) | (1,425,108) | ||
Foreign exchange gain (loss) | (19,544) | (6,932) | ||
Interest income | 944 | 4,782 | ||
Loss for the period | $(989,028) | $(1,427,258) | ||
Basic and diluted earnings (loss) per share | $(0.02) | $(0.03) | ||
Cash and cash equivalents | $2,279,970 | $6,170,194 | ||
Total assets | $2,750,804 | $6,536,720 | ||
Total current liabilities | $580,655 | $656,593 | ||
Total shareholders' equity | $2,169,449 | $5,880,127 | ||
Weighted average basic and fully diluted common shares outstanding | 43,496,847 | 43,009,347 |
For complete financial statements, including the notes and management's discussion and analysis, please visit our website at www.diversinet.com/financial-reports.html. The unaudited financial statements have not been reviewed by Diversinet's auditor.
About Diversinet
Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF) provides healthcare
organizations and partners with ultra-secure, patented mobile
technologies and connected health solutions. The company's core
publishing platform supports rapid deployment of secure and
HIPAA-compliant Web-to-mobile applications. Diversinet solutions lead
with an innovative, virtual health wallet designed for patient-centric
engagement to improve care coordination, health outcomes and
resilience. Learn more about Diversinet at www.diversinet.com.
The Private Securities Litigation Reform Act of 1995 and Canadian securities laws provide a "safe harbour" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to the success of current product offerings. Such forward-looking information involves important risks and uncertainties, including the uncertainty of the company to continue as a going concern, that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission available at www.sec.gov and Canadian securities regulatory authorities available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. MobiSecure is a registered trademark of Diversinet Corp.
SOURCE Diversinet Corp.
Copyright 2013 Canada NewsWire
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