Covalon Technologies Ltd. announced financial results for the year ended September 30, 2012. Revenue for the year was $3,793,451. Revenue was up 47% year over year as a result of the changeover from the old exclusive wound care distribution arrangement to the new path the company has chosen which is resulting in new agreements. Net loss was $3,991,382 or $0.05 per share compared to $3,561,941 or $0.05 per share in the previous year.

The company also announced the resignation of Mr. William Jackson as a Director of the company.