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16,96513,185Long-term debt, less current portion
3,390,4342,189,866 Total Liabilities
11,223,35116,382,859Stockholders' Equity (Deficit) Preferred stock, $.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding
-- Common stock, $0.000001 par value; 95,000,000 shares authorized; 37,677,334 Issued shares and outstanding as of March 31, 2011 and 36,994,715 shares issued and outstanding on December 31, 2010
3837 Additional paid-in capital
37,865,56236,325,976 Retained deficit
(32,028,471)(36,945,257) Total Stockholders' Equity (Deficit)
5,837,129(619,244) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
$
7,060,480$
5,763,615BACTERIN INTERNATIONAL HOLDINGS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)ThreeMonths Ended March 31,20112010RevenueTissue sales
$
5,868,924$
2,704,975Royalties and other131,88031,458Total Revenue6,000,8042,736,433Cost of tissue sales987,356604,622Gross Profit5,013,4482,131,811Operating ExpensesGeneral and administrative2,297,3751,466,138Sales and marketing4,264,2821,442,717Depreciation147,159152,501Non-cash consulting expense240,99193,596Total Operating Expenses6,949,8073,154,952Loss from Operations(1,936,359)(1,023,141)Other Income (Expense)Interest expense(372,433)(523,417)Change in warrant derivative liability7,218,806(102,395)Other income 6,7725,924Total Other Income (Expense)6,853,145(619,888)Net Income (Loss) Before Benefit (Provision) for Income Taxes4,916,786(1,643,029)Benefit (Provision) for Income TaxesCurrent--Deferred--Net Income (Loss)
$
4,916,786$
(1,643,029)Net Income (Loss) per share:Basic
$
0.13$
(0.05)Dilutive
$
0.11NAShares used in the computation
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