Sonomax Technologies Inc. ("Sonomax" or the "Company") (TSX Venture: SHH) today disclosed its results for the three months ended March 31, 2010.
As Sonomax continues work towards becoming an R&D licensing company,
First Quarter 2010 highlights were:
- Raised gross proceeds of $1,740,000 through a non-dilutive financing and restructuring.
- Exchanged $706,200 of convertible promissory notes and accrued interest for new notes maturing in 2011.
- Increase in net revenue to $124,914 in 2010 from $102,555 in 2009.
- Gross (loss) profit was $6,117 in 2010 compared to ($15,443) in 2009.
- Increase in operating expenses to $1,222,079 compared to $949,481 in 2009
Full financial statements can be found at: www.sedar.com