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VirtualScopics Reports Record Revenues and Gross Profit in the First Quarter
Date:5/5/2009

Series B preferred stock cash dividend 84,520 85,240 Net loss attributable to common stockholders $(840,633) $(1,009,753) Basic and diluted net loss per common share $(0.04) $(0.04) Weighted average number of common shares outstanding basic and diluted 23,533,785 23,246,067 VirtualScopics, Inc. and Subsidiary Condensed Consolidated Balance Sheets March 31, December 31, 2009 2008 Assets (unaudited) Current assets Cash and cash equivalents $3,137,405 $3,143,904 Accounts receivable 1,189,828 1,021,110 Prepaid expenses and other current assets 306,792 263,297 Total current assets 4,634,025 4,428,311 Patents, net 1,898,431 1,920,446 Property and equipment, net 368,079 355,479 Other assets 125,905 156,788 Total assets $7,026,440 $6,861,024 Liabilities and Stockholders' Equity Current liabilities Accounts payable and accrued expenses $691,412 $659,009 Accrued payroll 310,104 554,425 Unearned revenue 740,557 291,594 Derivative liability 820,317 - Total current liabilities 2,562,390 1,505,028 Stockholders' Equity Convertible preferred stock,
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