Innovotech Inc. announced that Kerry Brown has resigned as a member of the Board of Directors of Innovotech. He was replaced as Chairman of the Board on August 27, 2013 by Dr. James Timourian. Dr. Timourian has served on the Innovotech board for many years and brings a wealth of experience in growing and financing technology companies. He has invested in and served on the boards and management teams of many companies in his career.

The company announced audited earnings results for the second quarter and six months ended 30 June 2013. For the quarter, the company reported revenues of CAD 374,752 against CAD 129,834 a year ago. Net income was CAD 8,908,000 against net loss of CAD 445,059,000 a year ago.

For the six month period, total revenues were CAD 538,179 against CAD 302,829 a year ago. Net loss was CAD 345,486,000 against CAD 840,053,000 a year ago.