Not a bad result considering the high aussie dollar, better than I expected.
Resonance Health Limited today released its fourth quarter cash flow report for the period ending 30
June 2011.
Cash at 30 June 2011 was $1,503,000 representing a decrease of $87,000 for the June 2011 quarter,
compared with a decrease of $84,000 in the previous quarter.
Cash receipts from customers were up 43% compared to the corresponding quarter in the previous
year, despite the negative impact of the strengthening of the Australian dollar. Cash receipts were flat
compared to the prior quarter.
The Company is eagerly awaiting the FDA decision on its Cardiac iron test, expected within the next
few weeks. The Company is also preparing a submission to the FDA for its medical device to
accurately assess fatty liver disease using MRI technology.
Research and development expenditure during the quarter was focussed on the development of
technology to accurately assess the degree of liver fibrosis, using MRI. A clinical study is being
conducted at the Austin Hospital in Melbourne in collaboration with Professor Angus, Medical Director
of the Liver Transplant Unit. The study is ahead of schedule with 16 of the 30 patients now enrolled.
The results of this study are expected in the first quarter 2012.
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