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Pacific Biometrics Inc. Reports First Quarter Operating Results
Date:11/16/2009

r strategic planning and business development efforts, impacts on our financial results, our future growth, and the viability and acceptance of our products and services in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to bid on and win laboratory services contracts, client changes or early terminations of studies, variability in backlog, the success of our marketing and business development efforts, competition in the industry, general economic factors in the industry, and our ability to manage growth, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-K for the year ended June 30, 2009).

                        PACIFIC BIOMETRICS, INC.
                       CONSOLIDATED BALANCE SHEETS

                                          September 30,    June 30,
                   ASSETS                     2009          2009
                                           (unaudited)
                                            ---------     ---------
    Current assets:
        Cash and cash equivalents           $3,233,788   $1,365,406
        Short-term investments                 504,320            -
        Accounts receivable, net             1,688,386    2,238,912
        Other receivable, net                    6,500        9,000
        Inventory                              127,679      171,885
        Prepaid expenses and other assets      183,313      230,974
                                               -------      -------
              Total current assets           5,743,986    4,016,177

    Property and equipment, net                814,625      813,258

              Total assets                  $6,558,611   $4,829,435
                        
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SOURCE Pacific Biometrics, Inc.
Copyright©2009 PR Newswire.
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