XELR8 Holdings Announces Record First Quart...(it) (21241373) ...),Health

Total shareholders' equity 2,198,829 2,219,843

Total liabilities and shareholders'

equity $3,173,001 $3,052,540

XELR8 HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

Three Months Ended March 31, 2008 and 2007

For the Three For the Three

Months Ended Months Ended

March 31, 2008 March 31, 2007

Net sales $1,577,784 $869,075

Cost of goods sold 359,578 305,593

Gross profit 1,218,206 563,482

Operating expenses:

Selling and marketing expenses 1,090,792 629,266

General and administrative expenses 868,886 849,521

Research and development expenses 424 614

Depreciation and amortization 11,844 11,779

Total operating expenses 1,971,946 1,491,180

Net (loss) from operations (753,740) (927,698)

Other income (expense)

Interest income 19,278 3,126

Other expense (13,770) -

(Loss) on disposal of asset (1,130)

Interest (expense) - (439,537)

Total other income (expense) 4,378 (436,411)

Net (loss) $(749,362) $(1,364,109)

Net (loss) per common share

Basic and diluted net (loss) pe
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