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Bioheart, Inc. Announces Financial Results for First Quarter 2008
Date:5/15/2008

593,944 1,146,716

Other assets 68,854 71,148

Total assets $9,059,863 $11,324,323

LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities

Accounts payable $2,178,068 $2,134,256

Accrued expenses 4,296,348 4,511,775

Deferred revenue 485,786 547,286

Notes payable - current 6,725,374 6,671,112

Total current liabilities 13,685,576 13,864,429

Deferred rent 18,856 21,426

Note payable - long term 2,491,199 2,943,432

Total liabilities 16,195,631 16,829,287

Commitments and contingencies

Shareholders' deficit

Preferred stock ($0.001 par value)

5,000,000 shares authorized; none

issued and outstanding - -

Common stock ($0.001 par value) 50,000,000

shares authorized; 14,447,138 and

13,347,138 shares issued and

outstanding as of March 31, 2008

and December 31, 2007, respectively 14,447 13,347

Additional paid-in capital 78,720,440 77,061,296

Deficit accumulated during the

development stage (85,870,655) (82,579,607)

Total shareholders' deficit (7,135,768) (5,504,964)

Total liabilities and shareholders'

deficit $9,059,863 $11,324,323

Bioheart, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Three-Month Period


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SOURCE Bioheart, Inc.
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