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Imagenetix, Inc. Reports Third Quarter 2011 Results
Date:2/25/2011

ng expenses:Selling, general and administrative1,8165733,2881,956Payroll expense272325834849Consulting expense3534341,1061,009Operating expenses 2,4411,3325,2283,814Operating loss(2,024)(445)(2,687)(1,419)Other income-316Settlement income---1,250Interest expense (44)-(158)(2)Loss before income taxes(2,068)(442)(2,844)(165)Income tax benefit(866)(148)(1,108)(9)Net loss$

(1,202)$

(294)$

(1,736)$

(156)Loss per share:Basic and diluted$

(0.10)$

(0.03)$

(0.15)$

(0.01)Weighted average common shares outstanding:Basic and diluted11,81111,01111,64511,011Imagenetix, Inc. Condensed Consolidated Balance Sheets(Unaudited)(In thousands) December 31,

March 31, 2010 2010 Assets:Current assets:Cash and cash equivalents

$

171$

981Accounts receivable, net9591,049Inventories, net9881,350Prepaid expenses and other current assets282151Deferred tax asset2,034933   Total current assets4,4344,464Property and equipment, net 6789Long-term prepaid expenses918Other assets 117125   Total assets

$

4,627$

4,696Liabilities and stockholders' equity:Current liabilities:Secured note payable to bank

$

1,025$

-Convertible notes294-Accounts payable710997Accrued liabilities6783Customer deposits2225Contract payable7586   Total current liabilities2,1931,191Stockholders' equity 2,4343,505   Total liabilities and stockholders' equity

$

4,627$

4,696ContactImagenetix Investor Relations

William P. Spencer(858)385-2797

Chief Executive OfficerImagenetix, Inc.Tel: (858) 674-8455
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SOURCE Imagenetix, Inc.
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