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Pressure BioSciences, Inc. Reports Third Quarter 2013 Financial Results and Provides Business Update
Date:11/7/2013

shares issued and outstanding on September 30, 2013 and on December 31, 2012

119,493121,493Warrants to acquire preferred stock and common stock

3,951,0563,015,996Additional paid-in capital

18,158,07615,940,818Accumulated deficit

(23,903,690)(20,619,539)Total stockholders' deficit

(1,673,458)(1,539,776)TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

$1,294,971$1,353,788 PRESSURE BIOSCIENCES, INC. AND SUBSIDIARYCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)For the Three MonthsEndedFor the Nine MonthsEndedSeptember 30,September 30,2013201220132012Revenue:PCT products, services, other$327,958$297,867$746,050$687,023Grant revenue92,80493,749403,186335,162Total revenue420,762391,6161,149,2361,022,185Costs and expenses:Cost of PCT products and services175,995108,689364,368296,086Research and development280,276247,717787,142775,635Selling and marketing190,882164,313573,174570,578General and administrative617,642557,4171,851,6341,713,778Total operating costs and expenses1,264,7951,078,1363,576,3183,356,077Operating loss(844,033)(686,520)(2,427,082)(2,333,892)Other (expense) income:Interest (expense) income(158,162)(10,540)(230,176)(71,067)Other (expense)(2,132)-(210,838)-Change in fair value of derivative liabilities331,113(98,978)349,47236,322Total other (expense) income 170,819(109,518)(91,542)(34,745)Net loss(673,214)(796,038)(2,518,624)(2,368,637)Accrued and deemed dividends on convertible preferred stock(42,938)(129,789)(765,530)(895,734)Net loss applicable to common shareholders$(716,152)$(925,827)$(3,284,154)$(3,264,371)Net loss per share attributable to common stockholders - basic and diluted

$(0.06)$(0.09)$(0.28)$(0.34)Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation11,664,48410,872,87711,776,7409,598,066 

Investor Contacts:
Richard T. Schumacher, President & CEO, (508) 230-1828 (T)
Richard P. Thomley, Act
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SOURCE Pressure BioSciences, Inc.
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