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NewCardio Announces Financial Results for Its 2010 Third Quarter
Date:11/15/2010

gnated; 2,920 and -0- shares issued and outstanding as of September 30, 2010 and December 31, 2009, respectively

3

-Preferred stock Series D, $0.001 par value; 1,000 shares designated; no shares issued and outstanding as of September 30, 2010 and December 31, 2009

-

-Common stock, $0.001 par value, 500,000,000 and 99,000,000 shares authorized as of September 30, 2010 and December 31, 2009, respectively; 29,871,857 and 24,290,279 shares issued and outstanding as of September 30, 2010 and December 31, 2009, respectively

29,872

24,290Stock subscription

500,000

-Additional paid in capital

37,371,015

29,432,680Deficit accumulated during development stage

(39,215,289)

(30,930,360)  Total stockholders' deficit

(1,314,387)

(1,473,374)$
3,852,512

$
2,301,318NEWCARDIO, INC

(a development stage company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSFrom September 7, 2004Three months ended
September 30,

Nine months ended
September 30,

(date of inception) through2010

2009

2010

2009

September 30, 2010Revenue

$99,210

$ -

$169,328

$
-

$
9,328Cost of sales

37,937

-

84,468

-

84,468Gross (loss) profit

61,273

-

84,860

-

84,860Operating expenses:Selling, general and administrative

1,185,170

1,538,141

4,732,292

4,821,003

16,296,612Depreciation

20,446

17,941

59,191

41,249

138,232Research and development

748,401

796,168

2,674,089

2,338,589

9,007,193 Total operating expenses

1,954,017

2,352,250

7,465,572

7,200,841

25,442,037Net loss from operations

(1,892,744)

(2,352,250)

(7,380,712)

(7,200,841)

(25,357,177)Other income (expense)
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SOURCE NewCardio, Inc.
Copyright©2010 PR Newswire.
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