Trading Symbol: VPI
VANCOUVER, May 31 /CNW/ - The financial results of the Company for its year ended January 31, 2007 show a net loss of $338,355 or $0.03 per share compared to a net loss of $140,330 or $0.01 per share for the same period last year.
The Company's net loss increased significantly in 2007 as the Company wrote off $206,369 of the development costs due to the existence of uncertainty regarding the recovery of the deferred costs through future income streams. Development costs are expenditures incurred in the development of whole food nutraceuticals, condition-specific formulated products, along with other new products prior to the commencement of commercial production. The Company is still confident that it will be able to obtain Natural Health Product Numbers and commence commercial production of its new vitamin products in the future.
The Company's audited financial statements and management's discussion and analysis for the year ended January 31, 2007 are available on SEDAR at www.sedar.com.
On behalf of the Board of
VITALITY PRODUCTS INC.
"W. Douglas Grant" (signed)
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W. Douglas Grant, Vice President & CFO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00005856E