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Cardium Reports on First Quarter 2009 Financial Results and Recent Developments
Date:5/11/2009

3,779,260 - 3,779,260 3,976,674 Other long-term assets 620,041 - 620,041 572,541 Total assets $10,292,677 - $10,292,677 $10,296,921 Accounts payable and accrued liabilities $6,574,030 - $6,574,030 $6,819,586 Short-term debt 7,187,038 - 7,187,038 4,036,776 Derivative liabilities 14,860,984 (14,860,984) - - Long-term liabilities 197,789 - 197,789 195,315 Stockholder's deficiency (18,527,164) 14,860,984 (3,666,180) (754,756) Total liabilities and stockholder's deficiency $10,292,677 - $10,292,677 $10,296,921 * Note: additional pro forma information is included to reflect the effects of non-cash charges associated with the treatment of the value of certain derivative securities under newly-adopted EITF 07-05, which effects can vary substantially each quarter along with changes to the price of the underlying common stock during the quarter. The Company presents this information to investors as an additional tool for evaluating the Company's financial results in a manner that reflects ongoing operations and facilitates comparisons with operating results from prior periods. The presentation of this additional non-GAAP information is intended to provide investors with additional incremental tools for their review of the Company's results and is not meant to be considered in isolation or as a substitute for the actual net income information prepared and provided in accordance with GAAP.


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