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MiMedx Group Announces First Quarter 2011 Results
Date:4/26/2011

>248,71290,946Total current assets

2,343,0731,705,798Property and equipment, net of accumulated depreciation of $1,585,986and $1,392,704, respectively

825,569756,956Goodwill4,040,443857,597Intangible assets, net of accumulated amortization of $2,466,583and $2,132,606, respectively

16,092,4173,929,394Deposits and other long term assets

119,083102,500Total assets$ 23,420,585$  7,352,245LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable and accrued expenses

$   1,686,272$
848,285Line of credit with a related party

800,000-Short-term convertible notes, plus accrued interest of $3,432

-403,432Short-term notes payable, plus accrued interest of $146

205,140-Deferred Rent Current

6,620-Total current liabilities

2,698,0321,251,717Long-term earn-out liability

7,404,700-Long-term convertible debt, plus accrued interest of $11,644

897,061-Long-term notes payable, plus accrued interest of $362

13,769-Other long term liabilities

22,285-Total liabilities11,035,8471,251,717Commitments and contingency (Note 10)

--Stockholders' equity:Preferred stock; $.001 par value; 5,000,000 shares authorized and 0 shares issued and outstanding

--Common stock; $.001  par value; 100,000,000 shares authorized;71,251,349 issued and 71,201,349 outstanding for 2011 and 64,381,910 issued and 64,331,910 outstanding for 2010

71,25164,382Additional paid-in capital

67,513,40957,888,506Treasury stock (50,000 shares at cost)

(25,000)(25,000)Accumulated deficit(55,174,922)(51,827,360)Total stockholders' equity

12,384,7386,100,528Total liabilities and stockholders' equity

$ 23,420,585$  7,352,245See notes to condensed consolidated financial statementsMIMEDX GROUP, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)Three Months Ended March 31,20112010REVENUES:Net sales

$  1,043,487$<
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SOURCE MiMedx Group, Inc.
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