Bioheart, Inc. Announces Financial Results for Second Qu...(485786 547286 Notes payable -...)

Notes payable - current 6,781,397 6,671,112

Total current liabilities 13,582,273 13,864,429

Deferred rent 16,284 21,426

Note payable - long term 2,024,281 2,943,432

Total liabilities 15,622,838 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 June 30, 2008 and December 31, 2007,

respectively 14,447 13,347

Additional paid-in capital 79,835,158 77,061,296

Deficit accumulated during the

development stage (89,732,006) (82,579,607)

Total shareholders' deficit (9,882,401) (5,504,964)

Total liabilities and shareholders' deficit $5,740,437 $11,324,323

Bioheart, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Three-Month For the Six-Month

Period Period

Ended June 30, Ended June 30,

2008 2007 2008 2007

(Unaudited) (Unaudited)

Revenues $16,786 $194,609 $42,781 $208,414

Cost of sales 4,521 26,661 7,646 34,021

Gross profit 12,265 167,948 35,135 174,393
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