XELR8 Holdings, Inc. Announces Fourth Quarter and 2008 Annual Financi...((1130) 1500 Interest (expe...),Health

Date:3/31/2009

(1,130) 1,500 Interest (expense) - (439,537) Total other income (expense) 38,161 (350,391) Net (loss) $(2,110,034) $(3,241,730) Net (loss) per common share Basic and diluted net (loss) per share $(0.14) $(0.23) Weighted average common shares outstanding, basic and diluted 15,607,006 13,951,691 The notes are an integral part of these consolidated financial statements.

                              XELR8 HOLDINGS, INC.
                          CONSOLIDATED STATEMENTS OF
                    CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
                   For the Years Ended December 31, 2008 and 2007

                                                                     Total
                                         Additional             shareholders'
                        Common Stock      paid in    Accumulated    equity
                      Shares    Amount    Capital    (deficit)     (deficit)
     Balances,
      January 1,
      2007           10,097,170 $10,097 $16,849,900 $(17,250,281)   $(390,284)

     Issuance of
      Common Stock
      for Services    2,100,000   2,100   1,017,900            -    1,020,000

     Issuance of
      Common Stock
      in Private
      Offerings, net
      of offering
      costs of
      $380,552        3,000,000   3,000   3,616,448            -    3,619,448

     Stock
      Transferred by
      Shareholder
      for services            -       -     350,000            -      350,000

     Stock-based
      compensation            -       -     862,409            -      862,409

     Net (loss)               -       -           -   (3,241,730)  (3,241,730)

     Balances,
      December 31,
      2007           15,1
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SOURCE  XELR8 Holdings, Inc.
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