TORONTO, Nov. 6 /CNW/ -- Hamilton Thorne Ltd. (TSX-V: HTL), formerly Calotto Capital Inc., a leading provider of advanced laser systems and instruments for the stem cell research and fertility clinic markets, today reported operational and financial results for Hamilton Thorne, Inc. for the second quarter ended June 30, 2009.

"We recently completed our Qualifying Transaction and a related financing, providing us with resources to scale up our existing sales and marketing activities and continue to roll out additional products that target the fast growing stem cell research market," said Meg Spencer, Chief Executive Officer of Hamilton Thorne Ltd. "We are particularly encouraged by the numerous announcements of funding for stem cell research projects that further support this market such as the award by the California Institute for Regenerative Medicine, California's stem cell agency, of $230 million in grants to 14 stem cell research teams."

Financial Results

As the financial results relate to a period preceding the completion of the Qualifying Transaction, these results represent the performance of Hamilton Thorne, Inc. on a standalone basis, and should be read in conjunction with Calotto's financial statements for the three-month period ended July 30, 2009 and Calotto's Filing Statement relating to the Qualifying Transaction.

Amounts are in US dollars, unless specified otherwise, and results expressed in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP).

For the three-month period ended June 30, 2009, the Company recorded revenue of $1,019,000.

For the three-month period ended June 30, 2009, total operating expenditures were $1,048,000. Research and development expenses for the quarter were $221,000. Sales and marketing expenses for the quarter were $467,000. General and administrative expenses for the quarter were $359,000.

Net loss for the three-month period ended June 30, 2009, totalled $484,000.

As at June 30, 2009, the Company's cash and cash equivalents amounted to $2,900.

Subsequent to the end of the quarter, the Company completed a qualifying transaction on October 28, 2009 and concurrently with the merger, completed financings relating to a Private Placement and debt conversion, in the gross amount of CDN$2,200,000.