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BioSpecifics Technologies Corp. Reports Second Quarter 2008 Financial Results
Date:8/11/2008

453,553

Deferred revenue 1,345,125 1,437,116

Accrued tax and other accrued liabilities

of discontinued operations 78,138 78,138

Total current liabilities 4,869,408 5,115,236

Long-term deferred revenue 2,501,062 2,881,633

Stockholders' deficit:

Series A Preferred stock, $.50 par

value, 700,000 shares authorized;

none outstanding - -

Common stock, $.001 par value; 10,000,000

shares authorized; 6,082,068 shares

and 5,480,768 shares issued and outstanding

at June 30, 2008 and December 31, 2007,

respectively 6,082 5,481

Additional paid-in capital 1,092,925 4,751,447

Accumulated deficit (11,437,876) (10,172,855)

Accumulated other comprehensive loss (354,573) -

Treasury stock, 131,267 shares at cost at

June 30, 2008 and December 31, 2007 (693,957) (693,957)

Notes receivable from former CEO and

Chairman and other related party - (625,774)

Total stockholders' deficit (1,387,399) (6,735,658)

Total liabilities and stockholders'

deficit $5,983,071 $1,261,211

(1) As discussed in note 2 to the consolidated financial statements, we

have classified all of our auction rates securities held as of June

30, 2008 as long-term investments as our ability to liquidate such

securities in the next 12 months is uncertain. We had classified all

of our auction rate securities held as of December 31, 2007 as short

term investments.

BIOSPECIFICS TECHNO
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SOURCE BioSpecifics Technologies Corp.
Copyright©2008 PR Newswire.
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