Date:7/26/2012

argins and achieve its revenue goals through the end of the year, and the ability to fill orders to meet anticipated demand. These statements are based on current information and belief, and are not guarantees of future performance.  Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the anticipated demand for the Company's tissue offerings does not materialize as expected, that, despite the hiring of new executives, the Company cannot smoothly sustain the anticipated growth, that the Company may not be able to improve upon or sustain its gross margins, that the Company many not be able to timely fill orders to meet anticipated demand, 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, 2011. 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 SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)Three Months Ended June 30,Six Months Ended June 30,2012201120122011REVENUES:Net sales$ 4,884,256$ 1,929,399$ 8,590,064$ 2,972,886OPERATING COSTS AND EXPENSES:Cost of products sold1,114,926844,9412,073,7811,555,058Research and development expenses503,086791,952910,1581,754,176Selling, general and administrative expenses3,383,7602,708,9416,355,0065,336,435LOSS FROM OPERATIONS(117,516)(2,416,435)(748,881)(5,672,783)OTHER INCOME (EXPENSE), netFinancing expense associated with the debt discount recognizedin connection with the senior secured promissory notes(472,749)-(783,226)-Interest expense, net(153,804)(87,070)(305,614)(178,284)LOSS BEFORE INCOME TAXES(744,06
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