Miraculins Reports Second Quarter Financial Results for Fiscal 2013

Miraculins Reports Second Quarter Financial Results for Fiscal 2013 
WINNIPEG, MANITOBA -- (Marketwired) -- 07/30/13 -- Miraculins Inc.
(TSX VENTURE:MOM), ("Miraculins" or "the Company"), a medical
diagnostic company focused on acquiring, developing and
commercializing diagnostic tests and risk assessment technologies for
unmet clinical needs, today reported its results from operations for
the quarter ended May 31, 2013.  
Financial Results  
The Company did not earn any revenue from PreVu during the second
quarter of fiscal 2013 (2012 - nil), compared to $31,520 in the
previous quarter when Miraculins earned its first commercial revenue
from the PreVu technology. Additionally, there were no license fee
revenues for the three months ended May 31, 2013 (2012 - nil),
compared to $24,990 for the previous quarter and recognized no
collaborative research and option fee income compared to $11,655 for
the previous quarter and $38,640 for the same quarter in the previous
year.  
Net loss for the quarter was $747,380 or $0.01 per share, compared to
net loss of $713,000 or $0.01 per share in the same quarter a year
ago and a net loss of $660,532 or $0.01 for the previous quarter. The
net loss primarily relates to costs associated with the advancement
of the Company's PreVu technology. 
At May 31, 2013, the Company had cash totaling $634,442 compared to
$911,808 as of November 30, 2012. Cash flows used in operating
activities for the six months ended May 31, 2013 were $1,132,788,
compared to cash flows used in operating activities of $1,039,420 for
the six months ended May 31, 2012.  
The Company is currently involved in piloting the PreVu Non-Invasive
Skin Cholesterol Point of Care (POC) Test in various market segments
though third party distribution partners. Miraculins' business model
is to establish distribution partners that will be responsible for
selling and servicing these market segments. Buying cycles for end
users can often be long and protracted. As a result, during this
market introduction period, the Company anticipates that there may be
periods of limited revenue which have been accounted for with the
Company's planned financing activities. 
About Miraculins Inc.  
Miraculins is a medical diagnostic company focused on acquiring,
developing and commercializi
ng non-invasive tests for unmet clinical
needs. A significant number of promising diagnostic opportunities
remain un-commercialized because of the sizable gap between the
discovery stage, when research institutions are typically involved,
and the commercialization stage, when the larger commercial
enterprises become interested. Miraculins has direct experience in
bridging this gap. The Company's PreVu(R) technology is a
revolutionary new coronary artery disease risk assessment technology
that measures cholesterol levels in a patient's skin non-invasively,
painlessly and without the need for fasting. Miraculins is also
advancing a suite of biomarkers to aid in the early detection of the
devastating disease of pregnancy known as preeclampsia. The lead
marker in the Company's preeclampsia program is partnered with Alere
Inc., one of the world's largest diagnostic companies. For more
information visit www.miraculins.com. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Caution Regarding Forward-Looking Information 
Certain statements contained in this press release constitute
forward-looking information within the meaning of applicable Canadian
provincial securities legislation (collectively, "forward-looking
statements"). These forward-looking statements include statements
regarding the sufficiency of the Company's financial resources. These
forward-looking statements relate to, among other things, our
objectives, goals, targets, strategies, intentions, plans, beliefs,
estimates and outlook, including, without limitation, our anticipated
future operating results, and can, in some cases, be identified by
the use of words such as "believe," "anticipate," "expect," "intend,"
"plan," "will," "may" and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements.  
These statements reflect management's current beliefs and are based
on information currently available to management. Certain material
factors or assumptions are applied in making forward-looking
statements, and actual results may differ materially from those
expressed or implied in such statements. Important factors that could
cause actual results to differ materially from these expectations
include, among other things: Miraculins' early stage of development,
lack of product revenues and history of operating losses,
uncertainties related to clinical trials and product development,
rapid technological change, uncertainties related to forecasts,
competition, potential product liability, additional financing
requirements and access to capital, unproven markets, supply of raw
materials, income tax matters, management of growth, partnerships for
development and commercialization of technology, effects of insurers'
willingness to pay for products, system failures, dependence on key
personnel, foreign currency risk, risks related to regulatory matters
and risks related to intellectual property and other risks detailed
from time to time in Miraculins' filings with Canadian securities
regulatory authorities, as well as Miraculins' ability to anticipate
and manage the risks associated with the foregoing. Additional
information about these factors and about the material factors or
assumptions underlying such forward-looking statements may be found
in the body of this news release. Miraculins cautions that the
foregoing list of important factors that may affect future results is
not exhaustive. When relying on Miraculins' forward-looking
statements to make decisions with respect to Miraculins investors and
others should carefully consider the foregoing factors and other
uncertainties and potential events.  
These risks and uncertainties should be considered carefully and
prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what management
believes to be reasonable assumptions, Miraculins cannot provide
assurance that actual results will be consistent with these
forward-looking statements. Miraculins undertakes no obligation to
update or revise any forward-looking statement.  
PreVu(R) is a registered trademark of Miraculins Inc. All Rights
Reserved. 2013.
Contacts:
Miraculins Inc.
Christopher J. Moreau
President & CEO
204-477-7599
204-453-1596 (FAX)
info@miraculins.com
www.miraculins.com
 
 
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