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Investor
Contacts:
|
|
Richard
T. Schumacher, President & CEO
|
Pressure
BioSciences, Inc.
|
Edward
H. Myles, Senior Vice President of Finance & CFO
|
(508)
230-1828 (T)
|
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Pressure
BioSciences, Inc.
14
Norfolk Avenue, South Easton, MA 02375
TEL
508-230-1828 · FAX
508-230-1829
www.pressurebiosciences.com
|
![]() |
![]() |
![]() |
Pressure
BioSciences, Inc.
14
Norfolk Avenue, South Easton, MA 02375
TEL
508-230-1828 · FAX
508-230-1829
www.pressurebiosciences.com
|
![]() |
![]() |
Consolidated Balance Sheets | |||||||
December
31,
|
|||||||
ASSETS
|
2007
|
2006
|
|||||
CURRENT ASSETS | |||||||
Cash
and cash equivalents
|
$
|
5,424,486
|
$
|
5,335,282
|
|||
Accounts
receivable
|
118,471
|
37,495
|
|||||
Inventories
|
172,548
|
19,658
|
|||||
Deposits
|
553,483
|
175,300
|
|||||
Prepaid
income taxes
|
56,863
|
38,687
|
|||||
Income
tax receivable
|
249,541
|
710,013
|
|||||
Prepaid
expenses and other current assets
|
94,783
|
71,476
|
|||||
Investments
in marketable securities
|
-
|
2,060,875
|
|||||
Total
current assets
|
6,670,175
|
8,448,786
|
|||||
PROPERTY
AND EQUIPMENT, NET
|
257,797
|
207,696
|
|||||
OTHER
ASSETS
|
|||||||
Intangible
assets, net
|
328,290
|
376,922
|
|||||
Assets
of discontinued operation
|
-
|
1,420,996
|
|||||
Total
other assets
|
328,290
|
1,797,918
|
|||||
TOTAL
ASSETS
|
$
|
7,256,262
|
$
|
10,454,400
|
|||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|||||||
|
|||||||
CURRENT
LIABILITIES
|
|||||||
Accounts
payable
|
$
|
152,729
|
$
|
174,289
|
|||
Accrued
employee compensation
|
377,190
|
242,497
|
|||||
Accrued
professional fees and other expenses
|
186,840
|
150,978
|
|||||
Income
taxes payable
|
4,519
|
45,962
|
|||||
Deferred
taxes
|
-
|
669,520
|
|||||
Deferred
revenue
|
15,075
|
4,099
|
|||||
Total
current liabilities
|
736,353
|
1,287,345
|
|||||
LONG
TERM LIABILITIES
|
|||||||
Deferred
revenue
|
6,767
|
9,126
|
|||||
Liabilities
of discontinued operation
|
-
|
1,042,493
|
|||||
Total
long term liabilities
|
6,767
|
1,051,619
|
|||||
TOTAL
LIABILITIES
|
743,120
|
2,338,964
|
|||||
COMMITMENTS
AND CONTINGENCIES
|
|||||||
STOCKHOLDERS'
EQUITY
|
|||||||
Preferred
stock; 1,000,000 shares authorized; 0 outstanding
|
-
|
-
|
|||||
Common
stock, $.01 par value; 20,000,000 shares authorized;
|
|||||||
2,192,175
and 2,065,425 shares issued and outstanding
|
21,922
|
20,654
|
|||||
Additional
paid-in capital
|
6,284,616
|
5,347,641
|
|||||
Accumulated
other comprehensive income
|
-
|
1,384,876
|
|||||
Retained
earnings
|
206,604
|
1,362,265
|
|||||
Total
stockholders' equity
|
6,513,142
|
8,115,436
|
|||||
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
7,256,262
|
$
|
10,454,400
|
![]() |
Pressure
BioSciences, Inc.
14
Norfolk Avenue, South Easton, MA 02375
TEL
508-230-1828 · FAX
508-230-1829
www.pressurebiosciences.com
|
![]() |
![]() |
Consolidated
Statements of Operations
|
|||||||
For
the Year Ended
|
|||||||
December
31,
|
|||||||
2007
|
2006
|
||||||
REVENUE:
|
|||||||
PCT
Products, services, other
|
$
|
399,787
|
$
|
210,289
|
|||
Grant
revenue
|
246,083
|
-
|
|||||
Total
revenue
|
645,870
|
210,289
|
|||||
COSTS
AND EXPENSES:
|
|||||||
Cost
of PCT products and services
|
209,050
|
165,233
|
|||||
Research
and development
|
2,022,730
|
1,429,711
|
|||||
Selling
and marketing
|
1,386,519
|
528,265
|
|||||
General
and administrative
|
2,174,739
|
2,145,196
|
|||||
Total
operating costs and expenses
|
5,793,038
|
4,268,405
|
|||||
|
|||||||
Operating
loss from continuing operations
|
(5,147,168
|
)
|
(4,058,116
|
)
|
|||
OTHER
INCOME:
|
|||||||
Realized
gain on securities available for sale
|
2,028,720
|
517,938
|
|||||
Interest
income
|
286,600
|
381,713
|
|||||
Total
other income
|
2,315,320
|
899,651
|
|||||
Loss
from continuing operations before income taxes
|
(2,831,848
|
)
|
(3,158,465
|
)
|
|||
Income
tax benefit from continuing operations
|
520,214
|
745,354
|
|||||
Loss
from continuing operations
|
(2,311,634
|
)
|
(2,413,111
|
)
|
|||
DISCONTINUED
OPERATIONS:
|
|||||||
Gain
on sale of net assets related to discontinued operations (net
of income
tax of $218,060)
|
|||||||
1,155,973 | - |
Net
loss
|
$
|
(1,155,661
|
)
|
$
|
(2,413,111
|
)
|
|
Loss
per share from continuing operations - basic and diluted
|
$
|
(1.11
|
)
|
$
|
(1.01
|
)
|
|
Income
per share from discontinued operations - basic and diluted
|
0.55
|
-
|
|||||
Net
loss per share - basic and diluted
|
$
|
(0.56
|
)
|
$
|
(1.01
|
)
|
|
Weighted
average number of shares used to calculate income (loss) per
share - basic
and diluted
|
2,078,657
|
2,396,077
|
![]() |
Pressure
BioSciences, Inc.
14
Norfolk Avenue, South Easton, MA 02375
TEL
508-230-1828 · FAX
508-230-1829
www.pressurebiosciences.com
|