MINRAD International, Inc. Announces 2007 Financi...((206) - Loss on disposal of pro...),Health

Loss on disposal of property and equipment - (51)

Total non-operating income (expenses) (46) 436

Net loss (18,798) (6,603)

Less preferred stock dividends:

Cash dividends - (486)

Non cash dividends - (183)

Net loss available for common stockholders $(18,798) $(7,272)

Net loss per share, basic and diluted $(0.39) $(0.20)

Weighted average common shares outstanding,

basic and diluted 47,676,454 36,639,348

MINRAD INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Years Ended

December 31, December 31,

2007 2006

Cash flows from operating activities:

Net loss $(18,798) $(6,603)

Adjustments to reconcile net loss to

net cash used by operating activities:

Depreciation and amortization 1,043 590

Stock based compensation 1,134 841

Loss on disposal of property and equipment - 51

Amortization of bond discount - (43)

Warrant inducement 206 -

(Increase) decrease in assets:

Accounts receivable 7,163 (7,013)

License agreement receivable (1,000) -

Inventories
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