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MiMedx Group Announces Second Quarter 2011 Results


,340,922Accounts receivable, net


561,917111,554Prepaid expenses and other current assets

234,19290,946Total current assets

3,623,0531,705,798Property and equipment, net of accumulated depreciation of $1,701,688and $1,392,704, respectively

741,387756,956Goodwill4,040,443857,597Intangible assets, net of accumulated amortization of $2,800,561and $2,132,606, respectively

15,758,4393,929,394Deposits and other long term assets

119,082102,500Total assets

LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable and accrued expenses

848,285Short-term convertible notes, plus accrued interest of $3,432

-403,432Short-term notes payable, plus accrued interest of $97

45,540-Deferred Rent Current

6,620-Customer Deposits

43,125-Short-term earn-out liability payable In MiMedx common stock

3,850,000-Total current liabilities

5,564,1921,251,717Long-term earn-out liability payable in MiMedx common stock

3,554,700-Long-term convertible debt, plus accrued interest of $24,110

959,209-Long-term convertible debt with related party, plus accrued interest of

1,240,877-$9,959 and amortized discount of $10,918Long-term notes payable, plus accrued interest of $301

7,704-Other long term liabilities

30,197-Total liabilities

11,356,8791,251,717Commitments and contingency

--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;73,696,895 issued and 73,646,895 outstanding for 2011 and 4,381,910 issued and 64,331,910 outstanding for 2010


SOURCE MiMedx, Inc.
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