Bioscrypt Reports 1st-Quarter Loss of $1.32 Million

MISSISSAUGA, Ontario, Canada

Bioscrypt Inc. shares fell to a near two-month low after it
posted a first-quarter loss, despite a surge in revenues.
Dropping 12.9 percent, the fingerprint reader
manufacturer’s stock traded at $1.66. For the quarter ended
March 31, Bioscrypt reported a net loss of $1.32 million,
or 2.8 cents a share.

The company reports technology demands increased its
revenues by 111 percent to $2.34 million, but a one-time,
noncash charge of $600,000 related to a debenture write-off
cut into profits.

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