Authentidate Holding Corp. Reports Fiscal 2011 Second Quarter Results

The complete ExpressMD telehealth solution combines Electronic House Call, an FDA 510(k) market clearance approved, in-home patient vital signs monitoring system with a web application that streamlines the practitioner's job anywhere they have Internet or a Windows mobile communication device.

For more information about ExpressMD Solutions, visit www.expressmdsolutions.com

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the company or any other person that the objectives and plans of the company will be achieved. 

Authentidate and Inscrybe are registered trademarks of Authentidate Holding Corp. All other trade names are the property of their respective owners.

Authentidate Holding Corp. and Subsidiaries
Condensed Consolidated Balance Sheet Data
(in thousands, except per share data)
	December 31, 2010 (Unaudited)	June 30, 2010
Assets
Current assets
Cash and cash equivalents	$ 3,116	$ 433
Restricted cash	256	256
Marketable securities	980	1,079
Accounts receivable, net	1,092	1,138
Inventory	4,756	4,589
Prepaid expenses and other current assets	845	585
Total current assets	11,045	8,080
Property and equipment, net	432	553
Other assets
Software development costs, net	1,081	1,467
Goodwill	1,941	7,341
Other assets	1,052	1,103
Assets held for sale	--	2,000
Total assets	$ 15,551	$ 20,544
Liabilities, Redeemable Preferred Stock and Shareholders' Equity
Current liabilities
Accounts payable and accrued expenses	$ 3,724	$ 4,457
Deferred revenue	973	942
Other current liabilities	134	127
Total current liabilities	4,831	5,526
Long-term deferred revenue	140	140
Total liabilities	4,971	5,666
Commitments and contingencies
Redeemable preferred stock	2,783	--
Shareholders' equity
Preferred stock $.10 par value; 5,000 shares authorized Series B, 28 shares issued and outstanding on June 30, 2010	--	3
Common stock, $.001 par value; 75,000 shares authorized, 45,986 and 38,436 issued and outstanding on December 31, 2010 and June 30, 2010, respectively	46	38
Additional paid-in capital	172,362	170,490
Accumulated deficit	(164,491)	(155,518)
Accumulated other comprehensive loss	(120)	(135)
Total shareholders' equity	7,797	14,878
Total liabilities, redeemable preferred stock and shareholders' equity	$ 15,551	$ 20,544

Authentidate Holding Corp. and Subsidiaries
Condensed Consolidated Statements of Operations Data
(Unaudited)
in thousands, except per share data)
	Three Months Ended		Six Months Ended
	December 31,		December 31,
	2010	2009	2010	2009
Revenues
Software licenses and support	$ 880	$ 904	$ 1,562	$ 2,400
Hosted software services	698	624	1,378	1,150
Total revenues	1,578	1,528	2,940	3,550
Operating expenses
Cost of revenues	766	676	1,358	1,546
Selling, general and administrative	1,998	2,480	4,031	5,058
Product development	396	470	806	977
Depreciation and amortization	293	273	583	547
Goodwill impairment	5,400	--	5,400	--
Total operating expenses	8,853	3,899	12,178	8,128
Operating loss	(7,275)	(2,371)	(9,238)	(4,578)
Other income (expense), net	--	(448)	366	(354)
Net loss	$ (7,275)	$ (2,819)	$ (8,872)	$ (4,932)
Basic and diluted loss per common share	$ (0.16)	$ (0.08)	$ (0.22)	$ (0.14)

CONTACT:  For Authentidate Holding Corp.
          Investor Contacts:
          Robert Schatz
          Wolfe Axelrod Weinberger Assoc. LLC
          [phone]; [phone] fax

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