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Response Genetics Reports Third Quarter 2007 Financial Results
Date:11/14/2007

assets 19,102 19,102

Total assets $ 8,259,681 $ 22,596,371

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities

Accounts payable $ 404,008 $ 581,749

Accrued expenses 547,119 429,627

Accrued royalties 123,852 146,016

Accrued payroll, bonus

and related liabilities 595,276 195,791

Deferred revenue 1,628,325 3,910,301

Total current liabilities 3,298,580 5,263,484

Notes payable to stockholders 716,854 --

Accrued interest on notes

payable to stockholders 329,036 --

Accrued dividends 6,097,579 --

Deferred revenue,

net of current portion 3,320,000 1,603,186

Total liabilities 13,762,049 6,866,670

Commitments and contingencies

Stockholders' (deficit) equity

Series B Convertible Preferred Stock,

$0.01 par value; 1,038,048 and 0 issued

and outstanding (liquidation preference

of $9 per share, or $9,342,432 plus

accrued but unpaid dividends) at

December 31, 2006 and September 30, 2007,

respectively 10,380 --

Series A Junior Convertible Preferred Stock,

$0.01 par value; 500,000 and 0 issued and

outstanding (liquidation preference of $5

per share, or $2,500,000) at December 31,

2006 and September 30, 2007, respectively 5,000 --

Common stock, $0.01 par value; 20,000,000

and 50,000,000 shares authorized; 2,726,320

and 10,239,27
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SOURCE Response Genetics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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