reports can make it hard sometimes

Intersting read...I especially liked the price at the bottom.Makes it hard for them if wrong information like this is quoted.


Cellestis reports $2.4m net loss for year
13:40, Thursday, 11 September 2003

Sydney - Thursday - September 11: (RWE) - Cellestis Ltd incurred
a net loss of $2.38 million in the 12 months to June 30, compared with a
$1.64 million loss for the previous year.
Revenues were $738,000, up from $583,000.
Basic loss per share was 1.91c, against 2.69c.
Directors said the main costs were incurred in marketing,
particularly the set-up and expansion in the US, and in R&D activities
designed to expedite development of the second-generation tuberculosis
diagnostic, QuantiFERON-TB Gold.
"The year's results reflect the company's establishment and
development of its marketing efforts and continued investment in
research and development.
"The former has proven to be a process which requires time and
consistent effort.
"The long sales lead times and the need to develop the
QuantiFERON-TB Gold test for sale in Japan and elsewhere means that the
present trading outcome is likely to continue through the 2003/04
financial year.
"For these reasons it is difficult to forecast with precision
when operations will become cash flow positive.
"However the considerable support and interest being shown on
QuantiFERON-TB, and in particular for the QFT-Gold test, has raised our
expectations for increased sales in the second half of 2004," they said.
The company has yet to pay a dividend.
Shares in Cellestis today rose 5c to $2.20 and touched $2.34.