Trading Symbol: VPI
VANCOUVER, June 1 /CNW/ - The financial results of the Company for its year ended January 31, 2009 show a net loss of $286,839 or $0.01 per share compared to a net loss of $733,216 or $0.05 per share for the same period last year. The Company's net loss decreased significantly in 2009 as the Company recognized a stock based compensation expense of $5,719 (2008 - $380,460). The 2008 stock based compensation expense was high due to the assumptions required in the Black-Scholes option-pricing model, specifically, the Company's stock price volatility over the past five years.
The financial results of the Company for the three months ended January 31, 2009 show a net loss of $60,448 or $0.00 per share compared to a net loss of $532,476 or $0.03 per share for the same period last year. The Company recognized the stock based compensation expense of $380,460 during the fourth quarter of fiscal 2008.
The Company's audited financial statements and management's discussion and analysis for the year ended January 31, 2009 are available on SEDAR at www.sedar.com.
On behalf of the Board of VITALITY PRODUCTS INC. "William N. Grant" (signed) ------------------------------------- William N. Grant, President & CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
%SEDAR: 00005856E