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Advance Nanotech Reports First Quarter 2008 Financial Results

p> Deferred revenue - 38,279

Capital lease obligation, current portion 17,670 21,483


Loan payable - 334,001

Convertible notes payable 9,031,679 6,294,105

Common stock warrants 2,345,618 2,184,266

Capital lease obligation, net of

current portion 11,802 13,879

TOTAL LIABILITIES 14,652,406 11,892,701

Minority interests in subsidiaries 7,187,471 6,854,191


Preferred stock; $0.001 par value;

25,000,000 shares authorized; 0 shares

issued and outstanding in 2007 and 2006,

respectively - -

Common stock; $0.001 par value;

200,000,000 shares authorized;

36,667,686 and 36,595,686 shares issued

and outstanding in March 31, 2008 and

December 31, 2007, respectively 36,668 36,596

Additional paid in capital 16,753,299 16,128,733

Warrant valuation 665,043 2,708,358

Accumulated other comprehensive loss (1,372,437) (801,386)

Deficit accumulated during

development stage (31,911,750) (30,826,109)

TOTAL STOCKHOLDERS' DEFICIT (15,829,177) (12,753,808)


STOCKHOLDERS' DEFICIT $6,010,700 $5,993,083





SOURCE Advance Nanotech, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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