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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

Message: Releases Second Quarter 2009 Financial Results

Releases Second Quarter 2009 Financial Results

posted on May 28, 2009 12:43PM
May 28, 2009
Covalon Releases Second Quarter 2009 Financial Results
MISSISSAUGA, ONTARIO--(Marketwire - May 28, 2009) - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX VENTURE:COV) announces the release of its financial statements for the second quarter of fiscal 2009 ending March 31, 2009. Total revenues for the three months ending March 31, 2009 were $781,433, an increase of $126,808 over the same period of the previous year. Total revenues for the six months ending March 31, 2009 were $1,243,600 compared to $1,585,519 in the same period of the previous year. Net loss for the six months ending March 31, 2009 was $2.8 million and net cash outflows for the same period were $3.6 million. At March 31, 2009, the Company had $9.0 million in cash and cash equivalents available for use.

Mr. Peter Hobbes, Covalon's Chief Financial Officer noted, "I am quite pleased with the steps that Covalon is taking to reduce expenses, preserve cash and improve sales. I am encouraged by the focused efforts of management and staff to improve our performance."

Dr. Frank DiCosmo, Covalon Co-Founder, President and Chief Executive Officer stated, "Covalon's exceptional team of world-class medical researchers and scientists are extremely busy working on a number of existing projects and new sales initiatives. I am optimistic that our shareholders' patience will be rewarded in due course and that our sales activities led by Covalon Co-Founder and Chief Business Officer, William Jackson, will result in new customer contracts."

The Company's consolidated financial statements and Management Discussion and Analysis (MD&A) for the three and six month periods ending March 31, 2009 are available on SEDAR at www.sedar.com and on the Company's website at www.covalon.com.
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