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InstaCare Corp. in Turnaround Reports 258% Revenues Increase in 1Q 2008
Date:5/21/2008

$127,505 $4,353

Accounts receivable 698,545 669,041

Inventory 161,925 96,450

Prepaid expenses 6,461 3,816

Total current assets 994,436 773,660

Fixed assets net of accumulated depreciation

of $154,063 and $145,000, respectively 27,187 36,250

Other assets

Deposits 3,412 3,412

Amortizable loan fees 57,293 -

Total other assets 60,705 3,412

Total assets $1,082,328 $813,322

Liabilities and Stockholders' (Deficit)

Current liabilities:

Accounts payable $21,777 $120,107

Accrued liabilities 194,795 199,265

Accrued interest 455,013 412,837

Line of credit 449,305 467,044

Demand note - related party 280 280

Notes payable, current portion 182,178 181,021

Convertible notes payable 1,452,688 1,377,689

Total current liabilities 2,756,036 2,758,243

Long-term debt, net of current portion 71,623 85,109

Stockholders' (deficit)

Preferred stock, $0.001 par value, 3,249,000

shares authorized, 207,526 shares

issued and outstanding as of March 31, 2008

and December 31, 2007, respectively 207 207

Preferred series "A" stock, $0.001 par value,

750,000 shares authorized no shares

issued and outstanding as of March 31
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SOURCE InstaCare Corp.
Copyright©2008 PR Newswire.
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