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- Release Date: 01/03/13 10:30
- Summary: FLLYR: GEN: Genesis Research Announces Full Year Results
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GEN
01/03/2013 08:30
FLLYR
REL: 0830 HRS Genesis Research and Development Corporation Limited
FLLYR: GEN: Genesis Research Announces Full Year Results
Auckland, New Zealand, 28 February 2013 - Genesis Research and Development
Corporation Ltd (NZSX/ASX: GEN) today reported unaudited financial results
showing a net loss for the year of $0.23 million (31 December 2011 loss:
$0.48 million).
The company suspended operations in 2010 due to lack of funding but intends
to submit proposals to shareholders to refinance the company and develop new
business opportunities.
The accounts have not been audited yet as Ernst & Young resigned as the
company's auditors close to the date of this announcement. There were no
professional or ethical disputes or known accounting issues. New auditors are
expected to be appointed shortly.
About Genesis
Founded in 1994, Genesis is a New Zealand-based technology investment company
that built a broad therapeutic development platform targeting immune
disorders and cancer and a novel single stranded gene silencing technology
using the RNAi mechanism. Genesis holds an equity interest in Real Time
Genomics Inc. and has royalty rights resulting from previous collaborations.
For further information see www.genesis.co.nz
End CA:00233622 For:GEN Type:FLLYR Time:2013-03-01 08:30:39
