PainCare Holdings Reports on Fiscal Year 20...( ORLANDO Fla. April 16 /- PainCare...),Health

ORLANDO, Fla., April 16 /PRNewswire-FirstCall/ -- PainCare Holdings, Inc. (Amex: PRZ), a provider of pain-focused medical and surgical solutions and services, today reported its financial results for the 2007 fiscal year, ended December 31, 2007.

PainCare anticipates filing the related Form 10K with the SEC within the next several weeks. PainCare could not complete the Form 10-K within the prescribed time because the Company effected numerous dispositions of physician practices during the 2007 fiscal year resulting in the need for additional time to complete the associated accounting and financial reporting for both continued and discontinued operations. The 2007 financial results reflected below are not necessarily indicative of future results, in that they include the financial results from these discontinued operations. Although PainCare believes that the financial data included within this press release is accurate, it may be subject to change upon the filing of the actual Form 10K.

PAINCARE HOLDINGS, INC. CONSOLIDATED INCOME STATEMENTS

For the years ended December 31,

2007 2006

(unaudited)

Net Revenues $46,393,224 $84,139,488

Cost of revenues 18,674,010 25,151,448

Gross profit 27,719,214 58,988,040

General and administrative expense 40,798,586 46,133,579

Depreciation and amortization 44,528,812 41,230,995

Operating income (loss) (57,608,184) (28,376,534)

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