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AdCare Health Systems, Inc. Turns Profitable; Reports 2009 First Quarter Earnings Results
Date:5/18/2009

SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) Common Stock and Additional Accumulated Paid-in Noncontrolling Total Deficit Capital Interest Balance, December 31, 2008: $4,790,628 $(10,245,532) $14,766,967 $269,193 Warrants issued in connection with consulting agreement 12,567 - 12,567 - Stock option compensation expense 11,158 - 11,158 - Net income 95,814 95,814 - - Net income attributable to noncontrolling interest 8,118 - - 8,118 Balance, March 31, 2009 $4,918,285 $(10,149,718) $14,790,692 $277,311 ADCARE HEALTH SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three-Months Ended March 31, 2009 2008 Cash flows from operating activities: Net Income (Loss) $95,814 $(139,468) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 225,308 226,694 Warrants issued for servi
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