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Bacterin International Updates Fourth Quarter and Full Year 2010 Financial Results
Date:4/8/2011

BELGRADE, Mont., April 8, 2011 /PRNewswire/ -- Bacterin International Holdings, Inc. ("Bacterin") (NYSE Amex: BONE), a developer of revolutionary bone graft material, filed its 2010 Annual Report on SEC Form 10-K today.  Included in the filing are certain non-recurring, non-cash charges in the fourth quarter results ended  December 31, 2010, which increased non cash expenses by approximately $1.2 million from the financial results reported by the Company on SEC Form 8-K on March 28, 2011, details of which follow:  

  • Non-cash charge of $772,000 reflecting the terms of a settlement agreement under which a former officer of the Company exchanged outstanding options for a warrant to purchase 100,000 shares of common stock and also received 30,000 shares of restricted stock. In accordance with generally accepted accounting principles ("GAAP"), Bacterin recorded the associated expense at the market price as of the date of the agreement.
  • Non-cash charge of $405,000 related to the issuance of shares pursuant to an agreement with financial advisors at the time of the Company's reverse merger.  The agreement requires Bacterin to grant additional shares to the financial advisors upon the achievement of certain market valuation goals in 2011.  GAAP requires the Company to account for the probability of the grant under the terms of the agreement as a consulting expense at the time of the reverse merger as opposed to when the shares are granted in 2011.

About Bacterin International Holdings, Inc.

BACTERIN INTERNATIONAL HOLDINGS, INC. ("the "Company" or "Bacterin") develops, manufactures and markets biologics products to domestic and international markets.  Bacterin's proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold and prom
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SOURCE Bacterin International Holdings, Inc.
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