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MiMedx Group Announces 2010 Results
Date:3/28/2011

products and services may not gain the anticipated acceptance in the marketplace or that acceptance may be delayed, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2009. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws. MIMEDX GROUP, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS Year EndedNine Months EndedDecember 31,December 31,20102009REVENUES:Net sales$
544,155$
800Grant Revenue244,719-Total revenue788,874800OPERATING COSTS AND EXPENSES:Cost of products sold1,720,066240Research and development expenses

2,753,3312,590,227Selling, General and Administrative expenses

6,848,1353,463,303Gain on sale of assets-(280,868)LOSS FROM OPERATIONS(10,532,658)(5,772,102)OTHER INCOME (EXPENSE)Financing expense associated with issuance of common stock for registration rights waivers

-(1,305,100)Financing expense associated with warrants issuedin connection with convertible promissory note

(287,449)(975,833)Interest (expense) income, net(599,649)(242,634)LOSS BEFORE INCOME TAXES(11,419,756)(8,295,669)Income taxes--NET LOSS(11,419,756)(8,295,669)Net loss per common shareBasic and diluted$
(0.19)$
(0.20)Shares used in computing net loss per common shareBasic and diluted59,138,35741,365,513See notes to consolidated financial statementsMIMEDX GROUP, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETSASSETSDecember 31,20102009Current assets:Cash and cash equivalents$
,340,922$
2,653,537Accounts receivable, net162,376-Inventory111,55430,920Prepaid expenses and other current assets

90,946121,277Total current assets1,705,7982,805,734Property and equipment, ne
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SOURCE MiMedx Group, Inc.
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