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Advanced Life Sciences Announces Fourth Quarter and Full Year 2007 Financial Results
Date:2/19/2008

TOTAL ASSETS $19,911,542 $30,509,679

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable $2,685,751 $1,011,396

Accrued clinical trial expenses 2,776,543 1,410,894

Other accrued expenses 330,441 226,881

Accrued interest payable 22,756 22,756

Short-term lease payable 7,259 19,437

Short-term grant payable - 476,708

Short-term notes payable - related party - 2,000,000

Short-term notes payable - net of $939 debt

discount - -

Total current liabilities 5,822,750 5,168,072

Long-term lease payable 12,818 20,076

Long-term grant payable 500,000 23,292

Long-term notes payable - related party 2,000,000 -

Notes payable - net of $11,266 debt

discount December 31, 2006 3,915,000 3,903,734

Total liabilities 12,250,568 9,115,174

COMMITMENTS AND CONTINGENCIES

MINORITY INTEREST - -

STOCKHOLDERS' EQUITY:

Common stock, $0.01 par value -

60,000,000 shares authorized;

December 31, 2007 38,502,987

issued and outstanding;

December 31, 2006 28,282,677

shares issued and outstanding 385,030 282,827

Additional paid-in capital 106,859,532 88,370,853

Deficit accumulated during the

development stage (99,583,588) (67,259,175)

Total stockholder
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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
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