NOVADEL PHARMA INC filed this 8-K on 08/12/2011.
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		June 30, 2011				December 31, 2010
		(unaudited)
Assets
Current assets:
Cash and cash equivalents		$	865,000			$	900,000
Receivables			—				744,000
Prepaid expenses and other current assets			153,000				346,000
Total current assets			1,018,000				1,990,000
Property and equipment, net			170,000				221,000
Other assets			7,000				7,000
Total assets		$	1,195,000			$	2,218,000
Liabilities and stockholders’ deficiency
Current liabilities:
Accounts payable		$	122,000			$	356,000
Accrued expenses and other current liabilities			150,000				146,000
Derivative liability			3,779,000				611,000
Current portion of deferred revenue			259,000				3,259,000
Total current liabilities			4,310,000				4,372,000
Non-current portion of deferred revenue			6,560,000				3,689,000
Total liabilities			10,870,000				8,061,000
Commitments and contingencies
Stockholders’ deficiency:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding at June 30, 2011 and December 31, 2010, respectively			—				—
Common stock, $0.001 par value, 750,000,000 shares authorized, 133,590,615 and 98,681,029 shares issued at June 30, 2011 and December 31, 2010, respectively			134,000				99,000
Additional paid-in capital			83,226,000				79,496,000
Accumulated deficit			(93,029,000	)			(85,432,000	)
Treasury stock, at cost, 3,012 shares			(6,000	)			(6,000	)
Total stockholders’ deficiency			(9,675,000	)			(5,843,000	)
Total  liabilities and stockholders’ deficiency		$	1,195,000			$	2,218,000