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Bacterin International Holdings, Inc. Reports Third Quarter 2010 Financial Results
Date:11/15/2010

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At September 30, 2010, the Company reported cash and equivalents balance of $572,000, accounts receivable of $2.6 million and an inventory balance of $7.0 million.
At September 30, 2010 the Company had convertible notes payable of approximately $400,000, a decrease of $1.45 million from the prior second quarter 2010.   As of September 30, 2010, Bacterin had approximately 35.9 million shares of common stock outstanding and fully diluted shares of 48.4 million (inclusive of all options, warrants and convertible debt).

"After multiple years of product development and testing, we began preparing the business to capitalize on our core markets, as well as the active marketing of our product in 2009.  In particular, we diversified our supply of donor tissue, expanded our production capabilities, developed the infrastructure of what we believe will grow into a formidable sales force, refined the message to our market and started gathering proof points on how to scale our revenue in these markets.  During 2010, these efforts have produced sequential increasing record revenue quarters and sustainable gross margins above 80 percent with prospects of future revenue growth acceleration and profitability as we exit this current calendar year.  We anticipate further growth opportunities during 2011 as we begin to market and sell our new dermal scaffold and announce progress on our products that address subchondral bone repair," commented Guy Cook, the Company's President and CEO.Conference Call Details:Date/Time:Monday, November 15, 2010—10:00 a.m. (ET)Telephone Number:888-713-4217International Dial-In Number:617-213-4869Participant Pass code:65563395Internet Access:www.bacterin.com or www.earnings.comIt is recommended that participants phone-in at least 10 minutes before the call is scheduled to begin. Participants may pre-
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SOURCE Bacterin International Holdings, Inc.
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