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Advanced Life Sciences Announces Second Quarter 2008 Financial Results
Date:8/14/2008

258,531

OTHER ASSETS 23,018 10,000

TOTAL ASSETS $9,700,767 $19,911,542

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable $200,976 $2,685,751

Accrued clinical trial and NDA expenses 1,144,749 2,776,543

Other accrued expenses 811,925 330,441

Accrued interest payable 20,391 22,756

Short-term lease payable 7,832 7,259

Short-term notes payable - related

party 2,000,000 -

Total current liabilities 4,185,873 5,822,750

Long-term lease payable 8,751 12,818

Long-term grant payable 500,000 500,000

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

Letter of credit 3,915,000 3,915,000

Total liabilities 8,609,624 12,250,568

COMMITMENTS AND CONTINGENCIES

MINORITY INTEREST - -

STOCKHOLDERS' EQUITY:

Common stock, $0.01 par

value-60,000,000 shares authorized;

38,502,987 issued and outstanding

at June 30, 2008 and December 31,

2007 385,030 385,030

Additional paid-in capital 107,230,747 106,859,532

Deficit accumulated during the

development stage (106,524,634) (99,583,588)

Total stockholders' equity 1,091,143 7,660,974

TOTAL LIABILITIES AND STOCKHOLDERS'

EQUITY $9,700,767 $19,911,542

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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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