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Echo Therapeutics Reports Third Quarter 2007 Results

2007 2006



Current Assets:

Cash and cash equivalents $2,218,246 $559,017

Inventory, net of reserve for

obsolescence - 1,556

Prepaid expenses and

other current assets 74,484 12,994

Total current assets 2,292,730 573,567

Property and Equipment, at cost:

Computer equipment 248,272 245,694

Office and laboratory equipment 590,926 590,926

Furniture and fixtures 14,288 14,288

Manufacturing equipment 197,888 197,888

Leasehold improvements 177,768 177,768

1,229,142 1,226,564

Less-Accumulated depreciation and

amortization (1,105,441) (1,017,051)

Net property and equipment 123,701 209,513

Other Assets:

Restricted cash 10,250 19,949

Deposits and other assets 2,000 2,000

Intangible assets, net 10,420,000 -

Total other assets 10,432,250 21,949

Total assets $12,848,681 $805,029


Current Liabilities:

Accounts payable $363,057 $45,817

Deferred revenue 8,333 45,833

Current portion of notes payable,

net of unamortized discount 55,208 89,808

Accrued expenses

SOURCE Echo Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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