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Echo Therapeutics, Inc. Announces 2011 Financial Results

- Join us on Facebook at Therapeutics, Inc.Condensed Consolidated Balance SheetsDecember 31,2011December 31,2010ASSETSCurrent Assets:Cash and cash equivalents

,342,044Other current assets

567,940621,693Total current assets

9,563,5111,963,737Net property and equipment (including assets under capitalized leases)

317,73148,034Other Assets:Intangible assets, net of accumulated amortization

9,625,0009,625,000Restricted cash, deposits and other assets

20,565275,499Total other assets

9,645,5659,900,499Total assets

$  19,526,807$  11,912,270LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payable

5,634Deferred revenue

123,708405,454Derivative warrant liability

1,035,3371,544,996Accrued expenses and other liabilities

968,120565,546Total current liabilities

2,492,4633,121,630Deferred revenue, notes payable and capital lease obligation, net of current portion

65,75588,356Total liabilities

2,558,2183,209,986CommitmentsStockholders' Equity:Perpetual redeemable preferred stock, Series B

-2Convertible preferred stock, Series C & D

30,16049Common stock

385,442311,264Additional paid-in capital

98,116,32779,646,385Common stock subscribed for but not paid for or issued

6,667285,000Accumulated deficit

(81,570,007)(71,540,416)Total stockholders' equity

16,968,5898,702,284Total liabilities and stockholders' equity

$  19,526,807$  11,912,270Condensed Consolidated Statements of OperationsYears Ended December 31,20112010Licensing revenue

225,868Other revenue

145,152202,592Total revenues

447,211428,460Operating Expenses:Research and development

3,796,1272,578,852Selling, general a

SOURCE Echo Therapeutics, Inc.
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