There was no revenue listed for the company for the periods ending October 31, 2008 and 2009. Operating, selling, general and administrative expenses decreased by $14,125, or 3% in the 2009 first fiscal quarter to $513,791 from $527,916 in 2008. This decrease reflects a decrease in stockholder relations expenses by $129,800. In addition, salaries increased by $21,600 from $161,100 to $182,700, professional fees increased by $37,882 from $45,260 to $83,142 and consulting fees increased by $48,400 to $48,400 from none for the same period in 2008.
Total other income of $7,039,452 in the quarter ended October 31, 2009 represent an increase in other income of $9,579,666 from the expense of $2,540,214 in 2008 as a result of a greater income from derivative instrument expense for the period related to a decrease in derivative instrument liabilities caused by a change in stock prices.
Net income of $6,525,661 for the quarter ended October 31, 2009 was $8,537,959 greater than the net loss of $2,012,298 for the same period in 2008 due to the greater amount of derivative instrument income.
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Wellstar International, Inc. through its wholly owned subsidiary, Trillennium Medical Imaging, Inc. (Trillennium) is engaged in developing and licensing the use of advanced thermal imaging technology (TMI SYSTEM) in the consumer health care markets worldwide. The TMI Infrared Technology and software is approved by the United States Food and Drug Administration (FDA) as an adjunctive diagnostic screening procedure for early breast cancer detection, differential diagnosis of pain dysfunctions, (such as reflex sympathetic dystrophy, neuromuscular skeletal syndromes and neurological disorders), detection of pressure ulcers, deep tissue injuries, and bed sores, as well as orthopedic applications. Thermal imaging provides information that is specific to the physiological and functional activity in the body.
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