Stem Cell Therapeutics Corp. has announced its results for the period ended March 31, 2011.
The Company's loss for the three month period ended March 31, 2011 decreased by $867,428 to $438,029 ($0.00 per common share) from the loss of $1,305,457 ($0.01 per common share) reported for the three month period ended March 31 2010.
The primary reasons for the decrease is largely attributable to expense reductions, cost management and reduced spending on clinical activities. As of March 31, 2011 the working capital of the Company was $4,081,063.
Although not previously included in a press release the company issued company director Peter Milner 175,000 options on August 6, 2010 with an exercise price of $0.10.
These options will expire no later than August 6, 2015 subject to applicable vesting provisions. These options were awarded in accordance with the Company's Stock Option Plan.