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

br>4,855OPERATING COSTS AND EXPENSES:Cost of products sold

658,875379,588Research and development expenses

847,903572,404Selling, General and Administrative expenses

2,793,0551,711,438LOSS FROM OPERATIONS

(3,256,346)(2,548,575)OTHER INCOME (EXPENSE), netInterest (expense) income, net

(91,216)(593,510)LOSS BEFORE INCOME TAXES

(3,347,562)(3,142,085)Income taxes

--NET INCOME/(LOSS)

$ (3,347,562)$ (3,142,085)Net loss per common shareBasic and diluted

$
(0.05)$
(0.06)Shares used in computing net loss per common shareBasic and diluted

70,333,47651,227,540See notes to condensed consolidated financial statementsMIMEDX GROUP, INC. AND SUBSIDIARIESNon-GAAP Financial Measures and ReconciliationAs used herein, "GAAP" refers to generally accepted accounting principles in the United States.We use various numerical measures in conference calls, investor meetings and other forumswhich are or may be considered "Non-GAAP financial Measures" under Regulation G. We have Provided below for your reference supplemental financial disclosure for these measures,including the most directly comparable GAAP measure and an associated reconciliation.Reconciliation of Net Loss to "Adjusted EBITDA" defined as Earnings before Interest, Taxes, Depreciation, Amortization and Share Based Compensation:Three Months EndedMarch 31, 20112010Net Loss (Per GAAP) $ (3,347,562) $ (3,142,085)Add back:Income Taxes- - Financing expense associated withwarrants issued in connection withconvertible promissory note- 568,636 Financing expense associated withbeneficial conversion of note payableissued in conjunction with acquisition72,918 - Other interest (exp)/inc., net5,383 24,884 Depreciation Expense,180 ,992 Amortization Expense333,977 ,983 Employee Share Based Compensation380,373 89,467 Other Share Based Compensation7,560 9,667 Earnings Before Interest, Taxes, Depreciation, Amortization and Share Based Compensation $ (2,321,171) $ (2,071,45
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