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MiMedx Group Announces Third Quarter 2011 Results
Date:10/26/2011

earance for its first CollaFix™ product or that such clearance may be delayed, that, once clearance is received,  the anticipated demand for the product may not materialize, that the Company may not be successful in ramping up its production capabilities to meet the demand for its initial CollaFix™ product, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2010, and its most recent Form 10-Q. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws. MIMEDX GROUP, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)Three Months Ended September 30,Nine Months Ended September 30,2011201020112010REVENUES:Net sales$
2,152,094$
8,027$
5,124,980$
544,956OPERATING COSTS AND EXPENSES:Cost of products sold843,366539,6972,291,6471,355,210Research and development expenses485,236842,9291,995,6262,168,043Selling, general and administrative expenses2,475,8491,579,2598,162,8475,121,933LOSS FROM OPERATIONS(1,652,357)(2,853,858)(7,325,140)(8,100,230)OTHER INCOME (EXPENSE), netInterest (expense) income, net(113,366)(584)(291,651)(592,866)LOSS BEFORE INCOME TAXES(1,765,723)(2,854,442)(7,616,791)(8,693,096)Income taxes----NET LOSS$
(1,765,723)$
(2,854,442)$
(7,616,791)$
(8,693,096)Net loss per common shareBasic and diluted$
(0.02)$
(0.05)$
(0.11)$
(0.15)Shares used in computing net loss per common shareBasic and diluted73,767,67461,049,94272,082,60557,874,093See notes to condensed consolidated financial statementsMIMEDX GROUP, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETSASSETSSeptember 30,2011December 31,(unaudited)2010Current assets:C
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