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Photonic Products Group, Inc. Reports Record Financial Results for FY 2007
Date:3/31/2008

164,065 176,587

Total Current Assets 9,672,949 7,987,158

Plant and equipment:

Plant and equipment at cost 13,690,229 13,459,212

Less: Accumulated depreciation and

amortization (10,189,853) (9,164,031)

Total plant and equipment 3,500,376 4,295,181

Precious Metals 112,851 130,732

Goodwill 1,869,646 1,869,646

Intangible Assets, net of accumulated

amortization 830,144 908,708

Other Assets 91,981 124,835

Total Assets $16,077,947 $15,316,260

Liabilities and Shareholders' Equity

Current Liabilities:

Current portion of notes payable -other $ 14,814 $ 100,079

Accounts payable and accrued liabilities 2,741,966 2,495,398

Customer advances 870,550 987,963

Current obligations under capital leases 47,088 196,350

Related party secured note due within

one year 1,700,000 -

Total Current Liabilities 5,374,418 3,779,790

Related Party Convertible and Secured

Notes Payable 2,500,000 5,200,000

Notes Payable - Other, net of current

portion 490,730 1,052,680

Capital Lease Obligations, Net of

current portion - 47,087

Total Liabilities 8,365,148 10,079,557

Commitments and Contingencies - -

Shareholders' equity:

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SOURCE Photonic Products Group, Inc.
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