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In Brief: Chantal Pharmaceutical

This article was originally published in The Rose Sheet

Executive Summary

Chantal Pharmaceutical: Net revenue for the second quarter of FY 1997 (ended Dec. 31) totaled $3.8 mil. as reported under the company's revenue recognition policy, Chantal said Feb. 14. The company's revenue recognition policy records sales once its distributor, Stanton Medical Marketing, has sold Chantal's Ethocyn product line to retailers. Chantal revenues for the second quarter of 1996 were $1.2 mil. on a cash basis, the company noted. Net loss for the second quarter of 1997 was $1.4 mil., an improvement from the $4.3 mil. loss reported in the prior-year period. The company said the second quarter 1997 net loss includes a "non-cash interest expense" of $1 mil. used "to comply with an SEC staff position" issued in December 1996. The expense "reflects the discount to the market of the conversion option in the 8% convertible debentures" issued in October, Chantal said. The company, which is based in Los Angeles, also noted that it has decided not to relocate to Florida...
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