Exhibit 99.1
Q1-2010
First Quarter Report
March 31, 2010
(unaudited)
Consolidated Balance Sheets
Consolidated Statements of Operations, Comprehensive (Loss) / Income and Deficit
Consolidated Statements of Cash Flows
1 / 14
The accompanying consolidated
financial statements for the quarters
ended March 31, 2010 and 2009
have not been reviewed by the
Company’s auditors, KPMG LLP.
These financial statements are the
responsibility of management and
have been reviewed and approved
b y t h e C o m p a n y’s A u d i t
Committee.
Approved on Behalf of the Board:
2 / 14
FORBES MEDI-TECH INC.
CONSOLIDATED BALANCE SHEETS
(Expressed in Canadian dollars)
(unaudited)
March 31 December 31
2010
2009
ASSETS
Current Assets
Cash and cash equivalents
$ 1,470,708 __DOCTEXT__nbsp;
1,329,176
Accounts receivable
445,560
946,823
Inventories
1,543,312
2,117,159
Prepaid expenses and deposits
278,227
178,287
3,737,807
4,571,445
Long-term Assets
Capital assets
95,633
102,813
Other long-term assets
21,223
23,210
$ 3,854,663 __DOCTEXT__nbsp;
4,697,468
LIABILITIES and SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities
$
573,531 __DOCTEXT__nbsp;
546,848
Curent portion tenure allowance payable
65,000
65,000
638,531
611,848
Long-term liabilities
Tax provision
722,092
744,000
Tenure allowance
908,057
913,464
2,268,680
2,269,312
Shareholders’ equity
Share capital ( Note 6(b))
$ 2,720,992 __DOCTEXT__nbsp;
2,720,992
Contributed surplus (Note 6(c))
10,042,877 10,042,877
Deficit
(11,177,886 ) (10,335,713 )
1,585,983
2,428,156
$ 3,854,663 __DOCTEXT__nbsp;
4,697,468
See accompanying notes to the