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Re: ann441j post# 80026

Tuesday, 12/02/2008 4:51:13 AM

Tuesday, December 02, 2008 4:51:13 AM

Post# of 82595
From 10QSB filed on 11/14/2007:

During the nine months ended September 30, 2007, our operating requirements generated negative cash flow from operations as we continued to engage in testing and development of our products. Our cash used by operating activities for the nine months ended September 30, 2007 was $3,816,478. We also had principal payments on capital lease obligations of $138,101 and purchases of computer equipment of $3,603. The resulting cash shortfall was financed primarily through the sale of the Biofrontera investment which provided proceeds of $5,308,183. We paid back $2,538,354 of notes payable which was financed by the sale of the Biofrontera shares.

Good luck from Germany to all investors

ucca