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WaferGen Announces Third Quarter 2008 Financial Results
Date:11/10/2008

he quarter ended September 30, 2008, compared to $277,248 for the quarter ended September 30, 2007. For the quarter, the increase resulted primarily from an increase in promotion and advertising, increase in commissions and an increased in head count, resulting in greater salaries and wages. Sales and marketing expenses totaled $1,008,969 for the nine months ended September 30, 2008 compared to $567,218 for the nine months ended September 30, 2007. For the nine-month period, the increase resulted primarily from an increase in stock-based compensation associated with the issuance of stock options, additional expenses incurred as a result of an increased head count, including the hiring of a Vice President of Sales, resulting in greater salaries and wages, increase in commission and some additional professional fees.

General and administrative expenses totaled $648,966 for the quarter ended September 30, 2008, compared to $773,656 for the quarter ended September 30, 2007. For the quarter, the decrease is related to the reduction of expenses related to legal and professional fees in the quarter. For the nine months ended September 30, 2008, general and administrative expenses totaled $1,971,773, compared to $1,582,812 for the nine-month period ended September 30, 2007. For the nine-month period, the increase resulted primarily from an increase in head count resulting in greater salaries and wages, an increase in stock-based compensation associated with the issuance of stock options, and legal and professional fees related to the filing of registration statements and other documents in connection with the May 2007 private placement and reverse merger as described elsewhere in this Form 10-Q.

WaferGen reported a net loss applicable to common stockholders of $2,084,900, or ($0.08) per share, for the quarter ended September 30, 2008, compared to a net loss applicable to common stockholders of $1,691,610, or ($0.07) per share, for the quarter ended September 3
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SOURCE WaferGen Biosystems, Inc.
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