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<SEC-DOCUMENT>0001010549-09-000379.txt : 20090515
<SEC-HEADER>0001010549-09-000379.hdr.sgml : 20090515
<ACCEPTANCE-DATETIME>20090515160512
ACCESSION NUMBER:		0001010549-09-000379
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090331
FILED AS OF DATE:		20090515
DATE AS OF CHANGE:		20090515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WOUND MANAGEMENT TECHNOLOGIES, INC.
		CENTRAL INDEX KEY:			0000714256
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				592220004
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11808
		FILM NUMBER:		09832988

	BUSINESS ADDRESS:	
		STREET 1:		777 MAIN STREET
		STREET 2:		SUITE 3100
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102
		BUSINESS PHONE:		817-820-7080

	MAIL ADDRESS:	
		STREET 1:		777 MAIN STREET
		STREET 2:		SUITE 3100
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MB SOFTWARE CORP
		DATE OF NAME CHANGE:	19960805

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INAV TRAVEL CORPORATION
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TWISTEE TREAT CORP
		DATE OF NAME CHANGE:	19910220
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>wound10q033109.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">
        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>U.S. SECURITIES AND EXCHANGE COMMISSION<br>
        Washington, D.C. 20549</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>FORM 10-Q<br>
        &nbsp;<br>
         &nbsp;</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">[X]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>For the quarterly period ended: March 31, 2009</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">[ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
        Commission File No. <b>0-11808</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="5"><b>WOUND MANAGEMENT TECHNOLOGIES, INC.</b></font></p>

        <p>&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="50%">
                    <p align="center"><font size="2"><strong>Texas</strong>&nbsp;</font></p>
                </td>

                <td width="50%">
                    <p align="center"><strong><font size="2">59-2220004</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="50%" colspan="1">
                    <p align="center"><font size="2">(State or other jurisdiction of </font></p>
                </td>

                <td width="50%">
                    <p align="center"><font size="2">(I.R.S. Employer</font></p>
                </td>
            </tr>

            <tr>
                <td width="50%" colspan="1">
                    <p align="center"><font size="2">incorporation or organization)&nbsp;</font></p>
                </td>

                <td width="50%">
                    <p align="center"><font size="2">Identification Number)</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">777 Main Street</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">Suite 3100</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">Fort Worth, Texas 76102</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">(Address of principal executive offices)</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">(817) 820-7080</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">(Registrant&rsquo;s telephone number, including area code)</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">Securities registered pursuant to Section 12(b) of the Act:</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td width="50%" colspan="1">
                    <p align="center"><font size="2"><u>Title of Each Class</u> </font></p>
                </td>

                <td width="50%">
                    <p align="center"><font size="2"><u>Name of Each Exchange on Which Registered</u></font></p>
                </td>
            </tr>

            <tr>
                <td width="50%" colspan="1">
                    <p align="center"><font size="2">&nbsp;Common</font></p>
                </td>

                <td width="50%">
                    <p align="center"><font size="2">OTC BULLETIN BOARD</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">&nbsp;</td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><strong><font size="2">Securities registered pursuant to Section 12(g) of the Act:</font></strong></p>
                </td>
            </tr>

            <tr>
                <td width="100%" colspan="2">
                    <p align="center"><font size="2">Common Stock $ .001 par value (Title of Class)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="center">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12&nbsp;months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements
        for the past 90&nbsp;days.&nbsp;Yes |X| No&nbsp;|_|</p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such
        files). Yes |_| No&nbsp;|X| * <font style="COLOR: #000000">The Company is not subject to this rule yet.</font></p>

        <p style="MARGIN-TOP: 6pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act. (check one)</p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.05in; BORDER-TOP: medium none; PADDING-LEFT: 0.05in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26%">
                    <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left"><font size="2">Large accelerated filer&nbsp;|_|</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.05in; BORDER-TOP: medium none; PADDING-LEFT: 0.05in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="21%">
                    <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left"><font size="2">Accelerated filer&nbsp;|_|</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.05in; BORDER-TOP: medium none; PADDING-LEFT: 0.05in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="24%">
                    <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left"><font size="2">Non-accelerated filer&nbsp;|_|<br>
                    (Do not check if a smaller reporting company)</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.05in; BORDER-TOP: medium none; PADDING-LEFT: 0.05in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="27%">
                    <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left"><font size="2">Smaller reporting company&nbsp;|X|</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 15px" align="left">Indicate by check mark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act).&nbsp;Yes&nbsp;|_| No&nbsp;|X|</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #ff0000; TEXT-INDENT: 0px" align="justify"><font color="#000000">As of March 31, 2009 27,937,310 shares of the Issuer's $.001 par value common stock were issued and 27,933,221 shares were outstanding.</font></p>

        <p></p>
        <!-- PAGE BREAK  -->

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt">WOUND MANAGEMENT TECHNOLOGIES, INC.</font></b> <b><font style="FONT-SIZE: 10pt">AND SUBSIDIARY<br>
        &nbsp; <br>
        Form 10-Q<br>
        &nbsp; <br>
        Quarter Ended March 31, 2009</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="93%"><font face="Times New Roman" size="2"><strong>PART I &ndash; FINANCIAL INFORMATION</strong></font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%">
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 1 &ndash; FINANCIAL STATEMENTS</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Consolidated Balance Sheets as of March 31, 2009 (Unaudited) and</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31, 2008 (Audited)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">3</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Unaudited Condensed Consolidated Statements of Operations for the three months ended</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2009 and 2008</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">4</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2009 and 2008</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">5</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">AND RESULTS OF OPERATIONS</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">8</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 4T. CONTROLS AND PROCEDURES</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>PART II. OTHER INFORMATION</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 1. Legal Proceedings</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 3. Defaults Upon Senior Securities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 4. Submission of Matters to a Vote of Security Holders</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 5. Other Information</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">ITEM 6. Exhibits</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">SIGNATURE</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">13</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>

        <p></p>

        <p></p>

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            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>
        </div>
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        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">2</font></a>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">PART I &ndash; FINANCIAL INFORMATION</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt">ITEM 1 &ndash; FINANCIAL STATEMENTS</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 0pt; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-SIZE: 10pt"><b><font face="Times New Roman">WOUND MANAGEMENT TECHNOLOGIES, INC. AND SUBSIDIARY</font></b></font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><b>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET AS OF</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><b>MARCH 31, 2009</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><b>AND AUDITED FOR THE YEAR ENDED DECEMBER 31, 2008</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"></p>
        <hr>
        <br>
        <br>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong><u>ASSETS</u></strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="115">
                    <p align="center"><font face="Times New Roman" size="2">March 31, 2009</font></p>
                </td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="118">
                    <p align="center"><font face="Times New Roman" size="2">December 31, 2008</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>CURRENT ASSETS:</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Cash</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">104,539</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">1,142</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Accounts Receivable, less doubtful accounts</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">23,538</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">28,639</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Inventory, less reserve for obsolescence</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="115"><font face="Times New Roman" size="2">69,323</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="118"><font face="Times New Roman" size="2">99,858</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Total current assets</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">197,400</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">129,639</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>Property and Equipment, Net</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">4,608</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">10,055</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>Other Assets</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="115"><font face="Times New Roman" size="2">80,831</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="118"><font face="Times New Roman" size="2">12,020</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>TOTAL ASSETS</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="115"><font face="Times New Roman" size="2">282,839</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="118"><font face="Times New Roman" size="2">151,714</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong><u>LIABILITIES AND STOCKHOLDERS' DEFICIENCY</u></strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td align="left" width="634">&nbsp;</td>

                <td align="left" width="8">
                </td>

                <td align="left" width="17">
                </td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>CURRENT LIABILITIES:</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Accounts payable</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">122,328</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">93,925</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Accrured liabilities</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">388,896</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">379,046</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Accrued interest-related parties</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">1,226</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Notes payable, net of discount</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">205,833</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Note payable -related parties</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="115"><font face="Times New Roman" size="2">327,070</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="118"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Total current liabilities</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">1,045,353</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">472,971</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left" width="634">&nbsp;</td>

                <td align="left" width="8">
                </td>

                <td align="left" width="17">
                </td>

                <td align="right" width="18">
                </td>

                <td align="right" width="115">
                </td>

                <td align="left" width="11">
                </td>

                <td align="right" width="9">
                </td>

                <td align="right" width="118">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>Long-Term Liabilities</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">--</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left" width="634">&nbsp;</td>

                <td align="left" width="8">
                </td>

                <td align="left" width="17">
                </td>

                <td align="right" width="18">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="115">&nbsp;</td>

                <td align="left" width="11">
                </td>

                <td align="right" width="9">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="118">&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>TOTAL LIABILITIES</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">1,045,353</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">472,971</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>STOCKHOLDERS' DEFICIENCY</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Preferred stock, $10 par value, 5,000,000</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">shares authorized; 0</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding as of</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">March 31, 2009 and December 31, 2008</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">--</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Common stock: $0.001 par value;</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">100,000,000 shares authorized;</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">27,937,310 issued and 27,933,221</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115">
                </td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118">
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">outstanding as of March 31, 2009 and</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">27,237,310 issued and 27,233,221</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td width="115">
                </td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td width="118">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">outstanding as of December 31, 2008</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">27,937</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">27,237</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Additional paid-in capital</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">14,795,496</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">14,728,196</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Stock Subscription Receivable</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">(292,074</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">)</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">(292,074</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Treasuary Stock</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">(12,039</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">)</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">(12,039</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Accumulated deficit</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="115"><font face="Times New Roman" size="2">(15,281,834</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">)</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="118"><font face="Times New Roman" size="2">(14,772,577</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2">Total stockholders' deficiency</font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="115"><font face="Times New Roman" size="2">(762,514</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">)</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="118"><font face="Times New Roman" size="2">(321,257</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>TOTAL LIABILITIES AND STOCKHOLDERS'</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td width="18">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" width="115">&nbsp;</td>

                <td width="11">
                </td>

                <td width="9">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" width="118">&nbsp;</td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="634"><font face="Times New Roman" size="2"><strong>DEFICIENCY</strong></font></td>

                <td align="left" width="8"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="17"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="18"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="115"><font face="Times New Roman" size="2">282,839</font></td>

                <td align="left" width="11"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="9"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="118"><font face="Times New Roman" size="2">151,714</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>

        <p align="left"><font style="FONT-SIZE: 10pt">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.</font></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">3</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 0pt; FONT-FAMILY: 'ARIAL'" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 0pt; FONT-FAMILY: 'ARIAL'" align="center"><b><font face="Times New Roman">WOUND MANAGEMENT TECHNOLOGIES, INC. CORPORATION AND SUBSIDIARY</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><strong>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</strong></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><strong>FOR THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008</strong></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"></p>
        <hr>

        <p></p>

        <p align="left"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="660">
                </td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2"><strong>2009</strong></font></p>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2"><strong>&nbsp;</strong> </font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2"><strong>&nbsp;</strong> </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2"><strong>2008</strong></font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>REVENUE</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">53,428</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">63,270</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>COST OF SALES</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">310,145</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">148,236</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>Gross Profit</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(256,717</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(84,966</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>GENERAL AND ADMINISTRATIVE EXPENSES:</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp; General and Administrative Expenses</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">210,089</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">270,518</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp; Depreciation</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">5,447</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,084</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>LOSS FROM CONTINUING OPERATIONS:</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(472,253</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(356,568</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>OTHER INCOME (Expenses):</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp; Interest expense</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(37,663</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(13,406</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp; Interest income</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">659</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">16,741</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>LOSS BEFORE INCOME TAXES</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(509,258</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(353,233</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Current tax expense</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Deferred tax expense</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2"><strong>NET LOSS</strong></font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(509,258</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(353,233</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">Basic and diluted loss per share of common stock:</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(0.02</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(0.02</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="660"><font face="Times New Roman" size="2">Weighted average number of common shares outstanding</font></td>

                <td align="left" width="13"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">27,238,010</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">16,844,585</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <p align="left">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">4</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; FONT-FAMILY: 'ARIAL'" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; FONT-FAMILY: 'ARIAL'" align="center"><b><font face="Times New Roman">WOUND MANAGEMENT TECHNOLOGIES, INC. AND SUBSIDIARY</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><strong>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</strong></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><strong>FOR THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008</strong></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"></p>
        <hr>
        <b><font style="FONT-SIZE: 10pt">&nbsp; </font></b>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="69%">
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="10%">
                    <p align="center"><font face="Times New Roman" size="2"><strong>2009</strong></font></p>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2"><strong>&nbsp;</strong> </font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2"><strong>&nbsp;</strong> </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="10%">
                    <p align="center"><font face="Times New Roman" size="2"><strong>2008</strong></font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong><u>Cash flows from operating activities</u></strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;Net loss from continuing operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">(509,257</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">(353,233</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss from to net cash used in</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;operating activities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">5,447</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,084</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Non-cash expenses</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">73,833</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Stock issued for services</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">50,000</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Changes in assets and liabilities:</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;(Increase) decrease in prepaid expenses</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(68,811</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;(Increase) decrease in accounts receivable</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">5,101</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(3,421</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;(Increase) decrease in inventory</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">30,535</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">14,593</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Increase (decrease) in accounts payable and accrued liabilities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">38,253</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(50,812</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Increase (decrease) in royalties payable, including related accrued</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;interest</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,226</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">(3,335</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in operating activities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(423,673</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(345,124</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong><u>Cash flows from investing activities</u></strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;Reduction of Line of Credit</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">(461,300</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in investing activities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(461,300</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong><u>Cash flows from financing activities</u></strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;Proceeds from short-term debt</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">200,000</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">700,000</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;Proceeds from notes payable related party</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">327,070</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">211,970</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows provided by financing activities</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">527,070</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">911,970</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>Net Increase in cash</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">103,397</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">105,546</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>Cash and cash equivalents, beginning of period</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,142</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">781</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>Cash and cash equivalents, end of period</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">104,539</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">406,327</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong><u>Cash paid during the period for:</u></strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Interest</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">9,000</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;Income taxes</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong><u>Supplemental Non-cash investing and financing activities:</u></strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;700,000 shares of common stock issued with cash-less exercise</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;of warrants</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;Issuance of Series A Preferred stock, subsequently converted to</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;common, for payment of unrelated party note payable</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,495,664</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;20,000 shares of common stock contributed to obtain note payable</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">68,000</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;Amortized discount of note payable</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">5,833</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">-</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <div title="EE+ Page Footer" style="MARGIN-TOP: 12pt">
            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.</p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>
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        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>WOUND MANAGEMENT TECHNOLOGIES, INC. AND SUBSIDIARY<br>
        QUARTER ENDED MARCH 31, 2009<br>
        NOTES TO</b> <b>UNAUDITED</b> <b>CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 1- BASIS OF PRESENTATION</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q. They do not include all information and notes required by accounting principles generally accepted in the United States of
        America for complete financial statements.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for all periods presented have been made. </font>Preparing financial statements requires management to make estimates and assumptions that
        affect the reported amounts of assets, liabilities, revenue and expenses. Actual results may differ from these estimates. <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">The results of operations for the period ended March 31, 2009 are not necessarily indicative of the operating results that may be expected for the entire year ending December 31, 2009. These financial statements should be read in conjunction with the </font>Management's Discussion and Analysis and with the
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Company's financial statements and accompanying notes thereto as of and for the year ended December 31, 2008, filed with the Company's Annual Report on Form 10-K.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 2- GOING CONCERN</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt">The financial statements have been prepared on a going concern basis, which contemplates realization of assets and liquidation of liabilities in the ordinary course of business. The Company has continuously incurred losses from operations and has a significant accumulated deficit. The appropriateness of using the going concern basis is
        dependent upon the Company's ability to obtain additional financing or equity capital and, ultimately, to achieve profitable operations. These conditions raise substantial doubt about its ability to continue as a going concern. <br>
        It is the Company's belief that it will continue to incur losses for at least the next twelve months, and as a result will require additional funds from debt or equity investments to meet such needs. To meet these objectives, management's plans are to (i) raise capital by obtaining financing from debt financing and / or equity financing through private placement efforts, (ii) issue common stock for services rendered in lieu of cash payments and (iii) obtain loans from shareholders as
        necessary. Without realization of additional capital or significant revenues from operations, it would be unlikely for the Company to continue as a going concern. The Company anticipates that its shareholders will contribute sufficient funds to satisfy the cash needs of the Company for the next twelve months. However, there can be no assurances to that effect, as the Company has minimal revenues and the Company's need for capital may change dramatically if it is successful in expanding
        its current business or acquiring a new business. If the Company cannot obtain needed funds, it may be forced to curtail or cease its activities</font>.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">Management believes that actions presently taken to revise the Company's operating and financial requirements provide the opportunity for the Company to continue as a going concern. The Company's future ability to achieve these objectives cannot be determined at this time. The accompanying financial statements do not include any adjustments that might result from the
        outcome of this uncertainty.</p>

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            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>
        </div>
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        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">6</font></a>
        </div>

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        </div>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>WOUND MANAGEMENT TECHNOLOGIES, INC. AND SUBSIDIARY<br>
        QUARTER ENDED MARCH 31, 2009</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>NOTES TO UNAUDITED</b> <b>CONDENSED TO CONSOLIDATED FINANCIAL STATEMENTS</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 3 &ndash; CURRENT NOTES PAYABLE</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">In February the Company executed a</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">discounted</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">note to an unrelated party with a face amount</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">of $215,000</font>
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">and a funded amount of $200,000.</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">The note including</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">interest at 18% per annum is due on May 22, 2009.</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Deferred loan costs amounted</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">to $35,600</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">and are being amortized over the term of the
        loan</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">with an unamortized balance of $21,756 at March 31, 2009. The unamortized discount amounted</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">to</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">$9,167</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">at March 31, 2009.</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Prepaid interest amounted to $5,500 at March 31, 2009.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 4 &ndash; RELATED PARTY NOTES PAYABLE</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Funds are advanced from various related parties including the Company&rsquo;s President and CEO/CFO. Other shareholders fund the Company as necessary to meet working capital requirements and expenses. The advances are made pursuant to a note agreement that bears interest at 10% per annum,
        payable quarterly, and with maturity dates through March 31, 2009 per the table below. All notes are current liabilities and some of the notes are currently in default. Accrued interest due to related parties included in accrued liabilities as of March 31, 2009 was approximately $2,544. The following is a summary of amounts due to related parties as of March 31, 2009:</font></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="127">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Related party</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Nature of relationship</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="258">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Terms of the agreement</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="102">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Amounts due to related parties</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="127">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="258">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="102">&nbsp;</td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="127">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">HEB, LLC, a Nevada Limited Liability Company</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Scott Haire, is a one-percent<br>
                    Member, but the managing member of HEB, LLC</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="258">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Series of funds advanced under two separate, unsecured $1 million lines of credit dated November 26, 2003 and November 4, 2004, both at 10% per annum; no maturity date, interest payable quarterly; unused lines available at March 31, 2009 total $822,930.</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="102">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">$ 277,070</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="127"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="258"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="102"><font size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="127">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Araldo A. Cossutta</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Shareholder</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="258">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Note dated January 13, 2009 for $50,000 at<br>
                    -0- per annum;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="102">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">&nbsp; $ 50,000<br>
                    </font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="127"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="258"><font size="2">&nbsp;</font></td>

                <td style="PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2pt double" valign="top" width="102">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">$ 327,070</font></p>
                </td>
            </tr>
        </table>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 5- STOCKHOLDERS&rsquo; EQUITY</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">On March 24, 2009,&nbsp;warrants to purchase shares of our common stock at an exercise price of $.001 per share were exercised, through a cashless exercise provision in the warrant, for 700,000 shares of common stock.&nbsp; The price of our common stock&nbsp;on March 24, 2009, which was used to calculate the number of warrants exercised was
        $3.00.</p>

        <p></p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">A shareholder of the company contributed 20,000 shares of Company stock owned or controlled by the shareholder, to a lender to facilitate obtaining a loan for the Company. The $68,000 value of the stock has been recorded as a capital contribution and is being amortized as interest expense over the term of the loan.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">NOTE 6-SUBSEQUENT EVENTS</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px" align="justify">None</p>
        <!-- PAGE BREAK  -->

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">7</font></a>
        </div>

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        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 2: MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Introduction <br>
        &nbsp; </font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Management&rsquo;s discussion and analysis of results of operations and financial condition is provided as a supplement to the accompanying consolidated financial statements and footnotes to help provide an understanding of our financial condition, changes in financial condition and results of operations.</p>

        <p style="FONT-SIZE: 10pt; MARGIN: 0pt 0.5in 0pt 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Caution Concerning Forward-Looking Statements/Risk Factors</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">The following discussion should be read in conjunction with the financial statements and the notes thereto and the other financial information appearing elsewhere in this document. In addition to historical information, the following discussion and other parts of this document contain certain forward-looking information. When
        used in this discussion, the words &ldquo;believes,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;expects,&rdquo; and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected due to a number of factors beyond our control. We do not undertake to publicly update or revise any of our forward-looking statements even if experience or future
        changes show that the indicated results or events will not be realized. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. You are also urged to carefully review and consider our discussions regarding the various factors that affect our business, included in this section and elsewhere in this report.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Factors That Could Affect Future Results</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">We face an inherent risk of exposure to product liability claims in the event that the use of our products results in injury. Such claims may include, among others, that our products contain contaminants or include inadequate instructions as to use or inadequate warnings concerning side effects and interactions with other
        substances. We do not anticipate obtaining contractual indemnification from parties supplying raw materials or marketing our products. In any event, any such indemnification if obtained would be limited by our terms and, as a practical matter, to the creditworthiness of the indemnifying party. In the event that we do not have adequate insurance or contractual indemnification, product liabilities relating to defective products could have a material adverse effect on our operations and
        financial condition. </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Because of our dependence upon consumer perceptions, adverse publicity associated with illness or other adverse effects resulting from the use of our products or any similar products distributed by other companies could have a material adverse effect on our operations. Such adverse publicity could arise even if the adverse
        effects associated with such products resulted from consumers' failure to consume such products as directed. In addition, we may not be able to counter the effects of negative publicity concerning the efficacy of our products. Any such occurrence could have a negative effect on our operations.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Other key factors that affect our operating results are as follows: </font></p>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"></p>

            <table cellspacing="0" cellpadding="0" width="90%" border="0">
                <tr valign="bottom">
                    <td align="left" width="1"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left" width="97%"><font face="Times New Roman" size="2">Overall customer demand and acceptance for our various products.</font></td>

                    <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Volume of products ordered and the prices at which we sell our products.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Our ability to manage our cost structure for capital expenditures and operating expenses such as salaries and benefits, freight and royalties.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Our ability to match operating costs to shifting volume levels.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Increases in the cost of raw materials and other supplies.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">The impact of competitive products.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Limitations on future financing.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Increases in the cost of borrowings and unavailability of debt or equity capital.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Our inability to gain and/or hold market share.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Exposure to and expense of resolving and defending product liability claims and other litigation.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Managing and maintaining growth.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">The success of product development and new product introductions into the marketplace.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>
            </table>
            <br>
            <br>
        </blockquote>

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        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"></p>

            <table cellspacing="0" cellpadding="0" width="90%" border="0">
                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">The departure of key members of management.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Our ability to efficiently manufacture our products.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left"><font face="Times New Roman" size="2">&bull;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">Unexpected customer bankruptcy.</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
                </tr>
            </table>
            <br>
            <br>
        </blockquote>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="left"><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Overview and plan of operation </font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Wound Management Technologies, Inc. distributes collagen-based wound care products that are FDA cleared as medical devices and used in the management of acute and chronic wounds. Our products are distributed to healthcare providers such as wound care centers, long term care facilities, home health agencies, DME providers, and physicians in the medical domestic and
        international markets, as well as government and first-aid wound care markets. The Company holds certain exclusive world-wide distribution rights to a patented collagen-based wound care product formula and processes for a molecular form of collagen that is used in our primary products, CellerateRx&reg; powder and gel. Until now, most collagen has been presented to the body in an intact, native form which requires time for the body to break down. CellerateRx&rsquo;s patented collagen
        fragments are a fraction of the size of the native collagen molecules and particles found in other products, delivering the benefits of collagen to the body immediately and thereby helping to &ldquo;jump start&rdquo; collagen&rsquo;s role in wound bed processes. We believe that CellerateRx provides for unprecedented performance, range of use, cost savings, and patient friendliness. CellerateRx is indicated for acute and chronic wounds which include but are not limited to pressure ulcers
        (stages I-IV), traumatic wounds, diabetic ulcers, surgical wounds, venous stasis ulcers, ulcers due to arterial insufficiency, superficial wounds, and 1<sup>st</sup> and 2<sup>nd</sup> degree burns. Its ease of application can increase patient compliance and provide minimal lifestyle interruption.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Our CellerateRx products are currently marketed to and being used by wound care providers of all types. These products are also approved for reimbursement under Medicare Part B. The professional medical market and certain international markets will be the primary focus of our marketing and sales efforts for the immediate future. We believe that these products are unique
        in composition, applicability, clinical performance, and demonstrate <font style="COLOR: #000000">the ability to reduce costs associated with standard wound management.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify"><font style="COLOR: #000000">The Company is established to market, develop, manufacture, </font>and distribute medical devices, prescription, and over-the-counter (OTC) products. Focused on the rapid successful expansion and increased profitability <font style="COLOR: #000000">of the current product lines, as well as the development and acquisition of additional
        products, the Company</font> <font style="COLOR: #000000">is currently positioned to immediately impact the greater than $2.5 billion domestic US wound care market.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company is headquartered in Fort Worth, TX and is managed by the founding partners and veteran healthcare executives with over 50 years combined experience working as an executive team within the healthcare industry. The Company, a specialty medical device company, represents the realization of the founders to more effectively impact the healthcare market with niche
        products positioned in health plans, wholesalers, distributors, and retail markets that benefit patients across the U.S. and around the world.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Manufacturing of our products is conducted by Applied Nutritionals. CellerateRx is a trademark of Applied Nutritionals, LLC. Warehousing, shipping, and physical inventory management is outsourced to Pac-Source, LLC Manufacturing of Rochester, NY.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Our sales and marketing activities to date have been limited and have resulted in a nominal revenue stream. We have been focused on obtaining additional evidence based data that is necessary in today&rsquo;s health care market and have had data published in peer reviewed journals and abstracts at several of the major wound care conferences. We also had a session on
        Cellerate at one of the premier wound care conferences in 2008 and are scheduled for two sessions in 2009. Through these activities, we have, however, secured product evaluations with a number of key accounts. These accounts are regional and national healthcare provider organizations that represent strong recurring revenue opportunities for the Company.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">We currently intend to secure capital resources for expansion of staff, inventories, marketing efforts, and research and development; however we may be unsuccessful in our efforts to secure such capital. If we are successful in raising capital, we anticipate hiring a number of management, marketing, and clinical staffs to secure additional accounts, market to the broader
        US wound care market, support customers in specific geographies, broaden our clinical/educational programs, and evaluate retail and international market opportunities.</p>

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        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b>Results of Operations</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i>Three months ended March 31, 2009 and 2008</i></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Revenues. The Company generated revenues of $53,428 and $63,270, for the three months ended March 31, 2009 and 2008, respectively, or a decrease of approximately 16% from the same period in 2008.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Cost of revenues and gross margin. Costs of revenues for the three months ended March 31, 2009 were $310,145 and for the three months ended March 31, 2008, cost of revenues were $148,236. Our gross loss for March 31, 2009 was $256,717 and was $84,966 for the year ago period.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Selling, general and administrative expenses ("SGA"). SGA were $210,089 and $270,518 for the three months ended March 31, 2009 and 2008, respectively. SGA consists primarily of wages, enhanced product promotions, facility-related expenses, and outside professional services such as legal and professional fees incurred in connection with our SEC reporting requirements. We
        expect selling, general and administrative expenses to increase as we continue to expand our marketing efforts and the number of products we offer<font style="COLOR: #000000">. </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="justify"><b>Liquidity and Capital Resources</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company currently has limited resources to maintain its current operations, secure more inventories, and meet its contractual obligations. Additional capital must be raised through equity or debt offerings. If we are unable to obtain additional capital, we will be unable to operate our business.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Without realization of additional capital or significant revenues from operations, it would be unlikely for the Company to continue as a going concern. The consolidated financial statements have been prepared on a going concern basis, which contemplates realization of assets and liquidation of liabilities in the ordinary course of business. The Company has continuously
        incurred losses from operations and has a significant accumulated deficit. The appropriateness of using the going concern basis is dependent upon the Company's ability to obtain additional financing or equity capital and, ultimately, to achieve profitable operations. These conditions raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty and should not be
        regarded as typical for normal operating periods.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">It is the Company's belief that it will continue to incur nominal losses for at least the next twelve months, and as a result will require additional funds from debt or equity investments to meet such needs. The Company anticipates that its officers and shareholders will contribute sufficient funds to satisfy the cash needs of the Company for the next twelve months.
        However, there can be no assurances to that effect, as the Company has insignificant revenues and the Company's need for capital may change dramatically if it is successful in acquiring a new business. If the Company cannot obtain needed funds, it may be forced to curtail or cease its activities. Our future funding requirements will depend on numerous factors, some of which are beyond the Company's control. These factors include our ability to operate profitably, recruit and train
        management and personnel, and to compete with other, better-capitalized and more established competitors. To meet these objectives, management's plans are to (i) raise capital by obtaining financing through private placement efforts; (ii) issue common stock for services rendered in lieu of cash payments and (iii) obtain loans from officers and shareholders as necessary.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company does not anticipate incurring significant research and development costs, the purchase of any major equipment, or any significant changes in the number of its employees over the next twelve months.</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="justify"><b>Going Concern</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company has continuously incurred losses from operations and has a significant accumulated deficit. The appropriateness of using the going concern basis is dependent upon the Company's ability to obtain additional financing or equity capital and, ultimately, to achieve profitable operations. These conditions raise substantial doubt about its ability to continue as a
        going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">10</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">It is the Company&rsquo;s belief that it will continue to incur nominal losses for at least the next twelve months, and as a result will require additional funds from debt or equity investments to meet such needs. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The Company anticipates that its officers and
        shareholders will contribute sufficient funds to satisfy the cash needs of the Company for the next twelve months. However, there can be no assurances to that effect, as the Company has insignificant revenues and the Company&rsquo;s need for capital may change dramatically if it is successful in acquiring a new business. If the Company cannot obtain needed funds, it may be forced to curtail or cease its activities. To meet these objectives, management&rsquo;s plans are to (i) raise
        capital by obtaining financing through private placement efforts; (ii) issue common stock for services rendered in lieu of cash payments and (iii) obtain loans from officers and shareholders as necessary.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company&rsquo;s future ability to achieve these objectives cannot be determined at this time. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty and should not be regarded as typical for normal operating periods.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Contractual Obligations (Commitments And Contingencies)<br>
        &nbsp; <br>
        </font></b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">February 24, 2009 the Company entered into a</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">discounted</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">note agreement whereby Agile Opportunity Fund, LLC loaned the Company $200,000, with a face value of $215,000,</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">to be repaid in 90 days at 18%
        interest</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">per annum. </font><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Related parties notes payable were $327,070 at the quarter ending March 31, 2009.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Operating leases </font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">The Company&rsquo;s office lease in Fort Lauderdale, Florida will expire in September 2009. At this time the Company has not decided if they will extend the lease at that location or relocate. Rental expense charged to operations for the three months ending March 31, 2009 was $13,147 and $12,400 for March 31,
        2008.</font></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="343" border="0">
            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="247">&nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in" valign="top" width="96">&nbsp;</td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in" valign="top" width="247">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2009</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">$ 37,176</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in" valign="top" width="247">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2010</font></p>
                </td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">-</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="247"><font size="2">&nbsp;</font></td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 2pt double" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2">$ 37,176</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify"><br>
        <b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Federal Payroll Taxes</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">The Company is delinquent in the payment of its payroll tax liabilities with the Internal Revenue Service. As of March 31, 2009, unpaid payroll taxes total approximately $203,000. The Company has estimated the related penalties and interest at approximately $168,000 computed through March 31, 2009, which are included in current liabilities at March 31, 2009. The Company
        expects to pay these delinquent payroll tax liabilities as soon as possible. The final amount due will be subject to the statutes of limitations related to such liabilities and to negotiations with the Internal Revenue Service.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">As a smaller reporting company, we are not required to provide this information.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 4T. CONTROLS AND PROCEDURES</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="left"><b>Controls and Procedures</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">As of the end of the period covered by this report, the Company conducted an evaluation, under the supervision and with the participation of the principal executive officer, who is also the principal financial officer, of the Company&rsquo;s disclosure controls and procedures (as defined in Rules&nbsp;13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the
        &ldquo;Exchange Act&rdquo;)). Based on this evaluation, the principal executive officer/principal financial officer concluded that the Company&rsquo;s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">11</font></a>
        </div>

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            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="justify"><b>Changes in Internal Control Over Financial Reporting</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">During the first quarter of 2009, there was no change in the Company&rsquo;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control over financial reporting.</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-TRANSFORM: uppercase; TEXT-INDENT: 0px; FONT-FAMILY: 'TIMES NEW ROMAN BOLD'; FONT-VARIANT: small-caps" align="justify"><b>Management&rsquo;s Report on Internal Control over Financial Reporting</b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 10px" align="justify">Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we evaluated the effectiveness of the design and operation of our internal control over financial reporting based on the
        framework in Internal Control &ndash; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that evaluation, our chief executive officer and chief financial officer concluded that our internal control over financial reporting was effective as of March 31, 2009.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b>PART II - OTHER INFORMATION</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 1. Legal Proceedings </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">The Company has been added as a defendant,</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">with other entities,</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">in a civil suit. The lawsuit</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">is in regards to</font>
        <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">stock transactions</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">during 1997. The Company believes it will prevail and intends to vigorously defend its position.</font><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">None<br>
        &nbsp; </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 3. Defaults Upon Senior Securities</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">None <br>
        &nbsp; </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 4. Submission of Matters to a Vote of Security Holders</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">None<br>
        &nbsp; </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 5. Other Information</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">None </font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 6. Exhibits</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.1in; TEXT-INDENT: -81px" align="left">(a) Exhibits</p>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <p align="left"></p>

            <table cellspacing="0" cellpadding="0" width="90%" border="0">
                <tr valign="bottom">
                    <td align="right" width="1%">&nbsp;</td>

                    <td align="right" width="1%"><font size="2">31</font></td>

                    <td align="left" width="2%"><font size="2">&nbsp;</font></td>

                    <td align="left" width="94%"><font size="2">Certification pursuant to Rule 13a-14(a)/15d-14(a)</font></td>

                    <td align="left" width="1%"><font size="2">&nbsp;</font></td>

                    <td align="left" width="1%"><font size="2">&nbsp;</font></td>
                </tr>

                <tr>
                    <td align="right">
                    </td>

                    <td valign="top" align="right">
                    </td>

                    <td align="left">
                    </td>

                    <td align="left">&nbsp;</td>

                    <td align="left">
                    </td>

                    <td align="left">
                    </td>
                </tr>

                <tr valign="bottom">
                    <td align="right"><font size="2">&nbsp;</font></td>

                    <td valign="top" align="right"><font size="2">32</font></td>

                    <td align="left"><font size="2">&nbsp;</font></td>

                    <td>
                        <p align="justify"><font size="2">Certification of Principal Executive Officer and Principal Financial Officer in accordance with 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002</font></p>
                    </td>

                    <td align="left">&nbsp;</td>

                    <td align="left">&nbsp;</td>
                </tr>
            </table>
            <br>
            <br>
        </blockquote>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">12</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p dir="ltr" align="left">&nbsp;</p>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <p align="left">&nbsp;</p>
        </blockquote>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>SIGNATURES</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Pursuant to the requirements of the Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>

        <table cellspacing="0" cellpadding="0" width="90%" border="0">
            <tr valign="bottom">
                <td align="left" width="29%">
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="205"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="378"><font face="Times New Roman" size="2"><strong>WOUND MANAGEMENT TECHNOLOGIES, INC.</strong></font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Date: May 11, 2009</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="205"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="378"><font face="Times New Roman" size="2">/<u>s/ Scott A. Haire</u></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left">
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="205"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="378"><font face="Times New Roman" size="2">Scott A. Haire, Chairman of the Board,</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left">
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="205"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="378"><font face="Times New Roman" size="2">Chief Executive Officer and President</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

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                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="205"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="378"><font face="Times New Roman" size="2">(and Principal Financial Officer)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b> &nbsp;<br>
        &nbsp;<br>
        <br>
        <br>


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<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>2
<FILENAME>wound10qex31033109.htm
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2">Exhibit 31</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font size="2">CERTIFICATIONS</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2">I, Scott A. Haire, certify that:<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this Quarterly Report on Form 10-Q of Wound Management Technologies, Inc. for the period ended March 31, 2009;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within
        those entities, particularly during the period in which this report is being prepared;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting;
        and<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of registrant&rsquo;s board of directors (or persons performing the equivalent function):<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and<br>
        &nbsp;<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.<br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="FONT-SIZE: 7.5pt">&nbsp;</font></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Date: May 11, 2009</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">/</font><font size="2"><font style="FONT-SIZE: 7.5pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">S</font><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">/&nbsp;&nbsp;&nbsp;&nbsp;Scott A. Haire </font></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="COLOR: #000000">Scott A. Haire</font>,<br>
        Chairman of the Board, Chief Executive Officer and Principal Financial Officer</p>

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<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>3
<FILENAME>wound10qex32033109.htm
<TEXT>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 18pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">EXHIBIT 32</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 18pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">CERTIFICATION PURSUANT TO<br>
        18 U.S.C. SECTION 1350,<br>
        AS ADOPTED PURSUANT TO<br>
        SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</p>

        <p align="justify"><font size="2">In connection with the Quarterly Report of Wound Management Technologies, Inc. on Form 10-Q for the period ending March 31, 2009 as filed with the Securities and Exchange Commission on the date hereof, I, Scott A. Haire, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. &sect; 1350, as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that:&nbsp;</font></p>

        <p align="justify"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">May 11, 2009</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: -12px; FONT-FAMILY: 'ARIAL UNICODE MS'" align="justify"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">/S/&nbsp;&nbsp;&nbsp;&nbsp;Scott A. Haire </font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="COLOR: #000000">Scott A. Haire</font>,<br>
        Chairman of the Board,<br>
        Chief Executive Officer and Principal Financial Officer<br>
        </p>
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