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VirtualScopics Achieves Operating Cash Flow Breakeven in the Fourth Quarter 2008; Reports Record 2008 Revenue and Gross Profit
Date:2/25/2009

1,287,437 1,655,812 5,785,584 6,428,713 Operating loss (313,915) (1,142,451) (2,686,264) (4,462,073) Other income (expense) Interest income 13,920 39,324 73,599 153,968 Other expense (4,541) (4,349) (16,077) (13,279) Total other income 9,379 34,975 57,522 140,689 Net Loss (304,536) (1,107,476) (2,628,742) (4,321,384) Preferred stock deemed dividend - 1,381,163 - 1,381,163 Series B preferred stock cash dividend 84,520 12,567 338,827 99,433 Net loss attributable to common stockholders $(389,056) $(2,501,206) $(2,967,569) $(5,801,980) Basic and diluted net loss per common share $(0.02) $(0.11) $(0.13) $(0.25) Weighted average number of common shares outstanding Basic and diluted 23,492,651 23,148,152 23,389,705 23,058,820 VirtualScopics, Inc. and Subsidiary Consolidated Balance Sheets December 31, 2008 2007 Assets (unaudited) Current assets Cash and cash equivalents $3,143,904 $3,955,835 Restricted cash - 455,583 Accounts receivable 1,021,110 648,300 Prepaid expenses and other assets 263,297 306,301 Total current assets 4,428,311 5,366,019 Restricted cash - 43,216 Patents, net 1,920,446 1,948,785 Property and equip
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