October 1, 2007
Microislet, Inc. NAICS 541710
6370 Nancy Ridge Drive, Suite 112 San Diego, CA 92121 Description Biotechnology
(858) 657-0287 Employees 23
http://www.microislet.com/ Revenue (mil) 0.6310
  Income (mil) -10.6330
  Assets (mil) 2.7170
  Liability (mil) 0.5330
  (for the year ended 2006-12-31)
Category: Loss/Deficit
Event: Microislet, Inc. reported a net loss of $2,245,000 for the second quarter ended June 30, 2007, lower than the $2,610,000 net loss booked in the second quarter of 2006. For the six months ended June 30, 2007, the Company had a $5,139,000 net loss, lower than the $5,875,000 net loss incurred in the first half of 2006. As a result of its recurring losses, the Company has an accumulated deficit of $45,904,000 and stockholder's deficit of $1,296,000 as of June 30, 2007. It also has strained liquidity with $1,629,000 in total current assets available to pay $3,226,000 in total current liabilities.
Intellectual Property: The Company has developed new intellectual property in the areas of islet cell processing, quantification, and encapsulation. It has filed and will continue to file applications with the U.S. Patent and Trademark Office to protect intellectual property. The Company has a license from Duke University relating to two patents owned by Duke that are central to its business plan. Both patents relate to methods of culturing, cryopreserving, and encapsulating pancreatic islet cells. [SEC Filing 10-KSB 04-02-07]
Description: The Company engages in the research, development, and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes.
Officers: John J. Hagenbuch (Chair); James R. Gavin III, M.D., Ph.D. (Pres., CEO & Dir.); Kevin A. Hainley (Int. CFO); Myron A. Wick III (Dir.); Robert W. Anderson, M.D. (Dir.); Steven T. Frankel (Dir.); Bertram E. Walls, M.D. (Dir.)
Auditor: Deloitte & Touche LLP
Securities: Common Stock-Symbol MIIS.OB; OTC BB; 51,953,801 common shares outstanding as of August 6, 2007.
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