Report Does not include loss or income?Victhom Human does not include Q3 net income or loss
2009-11-13 14:42 ET - News Release
Mr. Normand Rivard reports
VICTHOM DISCLOSES THIRD QUARTER 2009 FINANCIAL RESULTS
Victhom Human Bionics Inc. is releasing its third quarter 2009 financial results.
Normand Rivard, president and chief executive officer of Victhom, said, "During the third quarter of 2009, with the Neurobionix activities carried out through our recently created joint venture, Neurostream Technologies, the company kept its focus on completing product development for the Neurostep system in preparation for the European market launch with our partner Otto Bock and the start of the U.S. clinical trial." He added, "We are also very proud to have completed the development of the second generation of the Power Knee, and are now turning our focus, along with our distribution partner Ossur, towards ensuring a successful commercial launch in 2010, and realizing the great potential of this leading-edge product."
Third quarter results
During the second quarter of 2009, the company completed transactions approved under a plan of arrangement which had significant impacts on its financial statements. The net profit of the second quarter was generated mainly by non-cash gains related to the following transactions