Theralase Technologies Inc.
TSX VENTURE : TLT

Theralase Technologies Inc.

June 29, 2011 17:00 ET

Theralase Technologies Inc. Announces Q1 Financials

TORONTO, ONTARIO--(Marketwire - June 29, 2011) - Theralase Technologies Inc. (the "Company") (TSX VENTURE:TLT) announces its first quarter 2011 financials.

Revenue remained fairly constant year over year with total revenue for the three month period ending March 31, 2011 at $421,313, compared to $462,081 for the same period in 2010, a decrease of 8%.

Selling expenses increased for the three month period ending March 31, 2010 at $267,837, compared to $115,836 for the same period the previous year an increase of 131%. The increase is primarily due to increases in the sales and marketing costs associated with the new Territory Sales Managers hired for the US market expansion.

Administrative expenses reduced from $354,054 to $252,484 a reduction of 29% as a result of decreased expenditures on stock-based compensation and administrative staff.

Research and development costs increased to $196,669 for the three month period ending March 31, 2011 compared to $95,733 for the same period in 2010, a 105% increase. The increase is primarily due to the development costs associated with the patented TLC-2000 biofeedback therapeutic laser system, scheduled to be commercially launched Q1 2012 and costs associated with the research and development of Theralase's patented Photo Dynamic Compounds (PDCs) being developed for cancer cell, virus and bacteria destruction. In order to capitalize on this research, the Company has entered into an applied research partnership with George Brown College and is considering other strategic alliances.

Roger Dumoulin-White, President and CEO of Theralase Technologies Inc. stated, "The net loss for the period ended March 31, 2011 was $447,263. The company expenses the future product development costs of the patented TLC-2000 biofeedback therapeutic laser system and TLC- 3000 Photo Dynamic Compound technology from existing TLC-1000 therapeutic laser product sales, resulting in the overall net loss. The investment in our future will secure our position as an international leader in medical laser technology for decades to come."

Theralase is poised for significant growth in the 2nd half of 2011 and in 2012 as the Company expands its sales and marketing efforts in the US and internationally and prepares for the launch of its patented TLC-2000 biofeedback therapeutic laser in Q1 2012.

The complete consolidated financial statements and MD&A for three months ending March 31, 2011 can be found at www.theralase.com and www.sedar.com.

About Theralase Technologies Inc.

Theralase Technologies Inc. designs, develops, manufactures and markets patented, superpulsed laser technology utilized in biostimulation and biodestruction applications. The technology is safe and effective in the treatment of chronic pain, neural muscular-skeletal conditions and wound care. When combined with its patented, lightsensitive Photo Dynamic Compounds, Theralase laser technology is able to specifically target and destroy cancers, bacteria and viruses.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.

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