Business
Covalon Announces Date of Annual General Meeting and First Quarter Financial Results
Feb. 28, 2011 (Canada NewsWire Group) -- MISSISSAUGA, ON, Feb. 28 /CNW/ - Covalon Technologie...
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"\n\n\n Feb. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMISSISSAUGA, ON, Feb. 28 /CNW/ - Covalon Technologies Ltd. (the\n "Company" or "Covalon") (TSXV: COV), an advanced medical technologies\n company, today announced its annual general and special meeting of\n shareholders will be held at 2:00 pm on April 14, 2011 at the offices\n of Stikeman Elliott LLP, 53rd Floor, Commerce Court West, 199 Bay\n Street, Toronto, Ontario. The record date for the meeting will be\n Tuesday, March 15, 2011. The Company also announced financial results\n for its first quarter ended December 31, 2010. Quarterly revenue was\n $661,115. Quarterly operating expenses were $946,579. Net loss was\n $629,241 or $0.008 per share. Covalon continues to have a strong\n balance sheet with no debt and $5,460,874 in cash, cash equivalents and\n short-term investments as of December 31, 2010.\n\n\nBrian Pedlar, Covalon's Chief Executive Officer stated, "Our current\n revenue model based on selling our advanced technologies to large\n medical companies does not currently produce consistent revenues on a\n quarterly basis. Consequently, any one quarter's financial results are\n not particularly indicative of the Company's prospects. We are working\n on a number of exciting initiatives that have the potential to be\n transformative events for Covalon. The purpose of this strategy is to\n leverage Covalon's considerable technology base in a variety of new\n innovative applications i...