Business
Covalon Provides Update on Expansion of Sales, Business Development and Marketing Initiatives and Second Quarter Financial Results
May 27, 2011 (Canada NewsWire Group) -- MISSISSAUGA, ON, May 27, 2011 /CNW/ - Mr. Brian Pedla...
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"\n\n\n May 27, 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, May 27, 2011 /CNW/ - Mr. Brian Pedlar, President and\n CEO of Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV:\n COV), an advanced medical technologies company, is pleased to provide\n the following update.\n\n\nCovalon has expanded its sales, business development and marketing\n initiatives with the addition of five experienced medical industry\n sales, business development and marketing staff, the redeployment of\n internal staff to sales and marketing roles and the introduction of new\n wound care products and medical coating formulations for license and\n distribution. The focus of the entire staff is on developing new\n business opportunities for the Company's core wound care products and\n medical coating services. In addition, the Company is also working on\n the introduction of promising new technologies and formulations for\n Covalon's existing channel and direct to consumers. The Company\n announced financial results for its second quarter ended March 31,\n 2011. Quarterly revenue was $1,011,436. Quarterly operating expenses\n were $1,139,577. Net loss was $430,610 or $0.006 per share. Covalon\n continues to have a strong balance sheet with no debt and $3,931,454 in\n cash, cash equivalents and short-term investments as of March 31, 2011.\n\n\nDr. Val DiTizio, Covalon's Chief Scientific Officer and co-founder said,\n "Covalon is a different company tod...