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Interim report January 1 – September 30, 2011

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(NGM: BIOL MTF)

The Board and President of Biolight AB (publ) herewith present the interim report for the first nine months 2011.

  • Net sales for the first nine months of the year were SEK 5,047 thousand (6,350).
  • Net sales for the third quarter were SEK 1,769 thousand (2,291).
  • Net operating loss for the first nine months of the year was SEK -8,959 thousand (‑5,784).
  • Net operating loss for the third quarter was SEK -3,230 thousand (-1,769).
  • Loss per share was SEK -0.27 (-0.27), and SEK -0.27 (-0.27) after full dilution.
  • A new share issue was completed in March and April, providing the Company with SEK 10 million before issue expenses. The issue was fully subscribed and was registered in May.
  • An action program to significantly reduce the Company’s fixed costs has been initiated.
  • The Company has begun strengthening and focusing its marketing efforts
  • On October 7, the Board of Directors decided on a new share issue to a value of appr. SEK 3 million.
  • The Company is evaluating several potential, aggressive campaigns, which we expect will require a further injection of capital in the first half of 2012.

OPERATIONS

Biolight is a medical technology company offering products based on the biological effects of dynamic, monochromatic light. Biolight provides a patented system for effective, painless and safe treatment of primarily wounds and other inflammatory conditions. The method accelerates the body’s own healing process and supplements traditional treatment. The treatment is non-pharmaceutical and is applied externally. It prevents inflammatory injuries, contributes to enhanced quality of life, reduces recovery time after physical exertion, as well as reduces healing times and treatment costs.

 

We offer user-friendly, hand-held treatment equipment to both patients and caregivers in human and veterinary medicine for applying the method. The Company’s revenue is generated through rental or sales of treatment equipment as well as sales of treatments that are downloaded to the equipment.

 

Biolight mainly focuses on two application areas: treatment of slow-healing wounds in medical and geriatric care and injuries in equestrian sports. The Biolight share is listed on the Nordic MTF (Nordic Growth Market AB).

 

Significant events after the reporting date

Authorised by the Extraordinary General Meeting held on September 29 2011, the Board of Directors resolved, on October 7 2011, to carry out a rights issue with preferential rights for existing shareholders. Fully subscribed, the new issue will provide the Company with appr. SEK 5.9 million before issue expenses. The new share issue has been partially secured through issue guarantees amounting to SEK 2.7 million.

 

Terms for new share issue

• The new share issue will encompass a maximum of 19,545,248 shares

• The issue price is set at SEK 0.30 per share

• Two (2) old shares give the right to subscribe for one (1) new share.

 

Time plan for new share issue

• Last trading day for the shares, and the right to subscribe, is Tuesday October 11, 2011

• The record date is October 14, 2011

• Share purchases through exercising of preferential rights must be paid for during the period 19 October – 2 November 2011. Subscription without preferential rights will take place during the same period.

• Trade with subscription rights will take place from October 19 to October 28, 2011

 

The board of directors and president guarantee that this interim report presents a fair picture of the parent company’s and the group’s business, its financial position and profit/loss, as well as describing any significant risks and uncertain factors that the parent company and its subsidiaries face.

 

(For full report, see attached file)

 

Further information:

For further information, please contact Pär Olausson Lidö, President, tel: +46 8 753 70 89, or +46 702 15 01 11.

 

 

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