There were no sales during the quarters ended September 30, 2009 or 2008. For the three months ended September 30, 2009, we had a net loss of $472,994, compared with a net loss for the three months ended September 30, 2008 of $192,913. The primary expence of MZEI is their payroll, other office costs, research, development, and consulting fees.
For the three months ended September 30, 2009, however, MZEI sustained $165,237 in research and development costs, as a result of prototype development costs, consulting, and other research activities. This has improved since the three months ending September 2008, which that end period had no research and development expenses.
General and administrative expenses in the quarter ended September 30, 2009, were $301,149 compared to $186,870 during the same period in 2008.
Principal amounts owed on notes payable totaled $285,206 and $280,491 at September 30, 2009 and December 31, 2008, respectively. Interest expense on these obligations during the three months ended September 30, 2009 and 2008 was $5,990 and $5,914, respectively.
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Medizone International, Inc. ("Medizone" or the "Company"), prior to 2008 had been dedicated to (i) seeking regulatory approval of a precise mixture of ozone and oxygen, and its process of inactivating lipid-enveloped viruses for the intended purpose of decontaminating blood and blood products and assisting in the treatment of certain diseases; (ii) developing or acquiring the related technology and equipment for the medical application of its products, including a drug production and delivery system; and (iii) applying its novel technology to the problem of nosocomial infections world-wide. Beginning in 2008, management re-positioned the Company to pursue an initiative in the field of hospital sterilization.
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