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Advanced Life Sciences Announces First Quarter 2009 Financial Results and Financial Outlook
Date:5/12/2009

------- ------- OTHER ASSETS: Deferred offering and financing costs 210,066 450,861 ------- ------- TOTAL ASSETS $1,470,174 $2,820,053 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable $1,816,526 $1,379,941 Accrued clinical trial and NDA expenses 112,452 458,260 Accrued payroll 735,890 506,537 Other accrued expenses 340,259 352,466 Accrued interest payable 98,770 72,572 Short-term lease payable 8,812 8,468 Short-term notes payable - related party 2,000,000 - --------- --- Total current liabilities 5,112,709 2,778,244 Long-term lease payable 2,013 4,350 Long-term grant payable 500,000 500,000 Long-term notes payable - related party - 2,000,000 Line of credit 10,000,000 9,915,000 ---------- --------- Total liabilities 15,614,722 15,197,594 ---------- ---------- COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY (DEFICIT): Common stock, $0.01 par value-60,000,000 shares authorized; 43,259,241 issued and outstanding at March 31, 2009; 40,810,932 shares issued
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SOURCE Advanced Life Sciences Holdings, Inc.
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