nties which could cause actual results to differ. Please refer to
our 10-KSB for specific details on our risk factors. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
forward-looking statements. The Company's actual results could differ
materially from those contained in the forward-looking statements. The
Company undertakes no obligation to revise or update its forward-looking
statements in order to reflect events or circumstances that may arise after
the date of this release.
BIOSPECIFICS TECHNOLOGIES CORP.
Consolidated Balance Sheets
Fiscal Year
Ended
As of June 30, December 31,
2008 2007
(unaudited) (audited)
Assets
Current assets:
Cash and cash equivalents $4,741,385 $68,564
Short-term investments-(1) - 975,000
Accounts receivable, net 102,180 108,809
Prepaid expenses and other current assets 101,946 73,158
Total current assets 4,945,511 1,225,531
Long-term investments-(1) 1,020,427 -
Property, plant and equipment, net 17,133 35,680
Total assets 5,983,071 1,261,211
Liabilities and Stockholders' Deficit
Current liabilities:
Accounts payable and accrued expenses 719,623 873,460
Accrued third-party development expenses 2,272,969 2,272,969
Accrued tax liability 453,553
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