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MINRAD International, Inc. Announces 2007 Financial Results
Date:3/31/2008

(10,552) (499)

Inventory reserve 2,510 -

Prepaid expenses and other 442 (751)

Increase (decrease) in liabilities:

Accounts payable 6,660 (2,450)

Accrued expenses (258) 856

Deferred income 1,000 -

Net cash used by operating activities (10,450) (15,021)

Cash flows from investing activities:

Purchases of investments - (12,424)

Sales of investments 7,249 5,217

Purchases of property and equipment (11,960) (5,496)

Acquisition of other assets (230) (309)

Net cash used by investing activities (4,941) (13,012)

Cash flows from financing activities:

Borrowings under demand notes payable 6,000 400

Repayments under demand notes payable - (3,120)

Borrowings under long-term debt 2,015 -

Principal payments on long-term debt (83) -

Proceeds from warrants exercised 2,066 475

Proceeds from sale of common stock, net of costs - 34,512

Preferred cash dividends - (656)

Proceeds from options exercised 967 417

Net cash provided by financing activities 10,965 32,028

Net (decrease) increase in cash and cash

equivalents (4,426) 3,995

Cash and cash equivalents - beginning of year 4,664 669

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SOURCE MINRAD International, Inc.
Copyright©2008 PR Newswire.
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