<SEC-DOCUMENT>0000897101-12-001948.txt : 20121113
<SEC-HEADER>0000897101-12-001948.hdr.sgml : 20121112
<ACCEPTANCE-DATETIME>20121113161519
ACCESSION NUMBER:		0000897101-12-001948
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20121113
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121113
DATE AS OF CHANGE:		20121113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Electromed, Inc.
		CENTRAL INDEX KEY:			0001488917
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				411732920
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34839
		FILM NUMBER:		121198916

	BUSINESS ADDRESS:	
		STREET 1:		500 SIXTH AVENUE NW
		CITY:			NEW PRAGUE
		STATE:			MN
		ZIP:			56071
		BUSINESS PHONE:		952-758-9299

	MAIL ADDRESS:	
		STREET 1:		500 SIXTH AVENUE NW
		CITY:			NEW PRAGUE
		STATE:			MN
		ZIP:			56071
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>elmd124739_8k.htm
<DESCRIPTION>FORM 8-K DATED NOVEMBER 13, 2012
<TEXT>
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<P STYLE="font: 14pt Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 14pt Times New Roman,serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 20pt Times New Roman,serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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<P STYLE="font: 20pt Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center">Date of report (Date of earliest event reported): November
13, 2012</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 20pt Times New Roman,serif; margin: 0; text-align: center"><B>ELECTROMED, INC.</B></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; font: bold 12pt Times New Roman,serif; text-align: center">Minnesota</TD>
    <TD STYLE="width: 33%; font: bold 12pt Times New Roman,serif; text-align: center">001-34839</TD>
    <TD STYLE="width: 33%; font: bold 12pt Times New Roman,serif; text-align: center">41-1732920</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center">(State or Other Jurisdiction of <BR> Incorporation)</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center">(Commission File Number)</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center">(I.R.S. Employer Identification<BR> Number)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>500 Sixth Avenue NW</B><BR>
<B>New Prague, MN 56071</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">(Address of Principal Executive Offices)(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>(952) 758-9299</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including Area
Code)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">(Former Name or Former Address, if Changed Since Last
Report)</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 3%; font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 3%; font: 12pt Times New Roman,serif">&#9744;</TD>
    <TD STYLE="width: 94%; font: 12pt Times New Roman,serif">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">&#9744;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">&#9744;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">&#9744;</TD>
    <TD STYLE="font: 12pt Times New Roman,serif">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0"><B>Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and
Financial Condition</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">On November 13, 2012, Electromed, Inc. (the &ldquo;Company&rdquo;)
issued a press release announcing its financial results for the three months ended September 30, 2012. The full text of the press
release is set forth in Exhibit 99.1 attached hereto and is incorporated by reference in this Current Report on Form 8-K as if
fully set forth herein.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">The information contained in this Current Report on
Form 8-K, including the Exhibit 99.1 attached hereto and incorporated herein, shall not be deemed &ldquo;filed&rdquo; for the purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and
shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended, except
as shall be expressly set forth by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 12pt Times New Roman,serif; text-align: justify">Item 9.01</TD>
    <TD COLSPAN="3" STYLE="font: bold 12pt Times New Roman,serif; text-align: justify">Financial Statements and Exhibits.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: justify">(a)</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif; text-align: justify">Financial statements: None.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: justify">(b)</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif; text-align: justify">Pro forma financial information: None.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: justify">(c)</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif; text-align: justify">Shell company transactions: None.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: justify">(d)</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif; text-align: justify">Exhibits:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font: bold 10pt Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman,serif; text-align: justify">99.1</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: justify">&nbsp;Press Release dated November 13, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif">Electromed, Inc.</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt Times New Roman,serif">Date:&nbsp;&nbsp;<FONT STYLE="color: black">November 13, 2012</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif">By: /s/ Jeremy T. Brock</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 68%; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; font: 10pt Times New Roman,serif">Name:&nbsp;</TD>
    <TD STYLE="width: 24%; font: 10pt Times New Roman,serif">Jeremy T. Brock</TD>
    <TD STYLE="width: 4%; font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman,serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">Chief Financial Officer</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>ELECTROMED, INC.</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><B>EXHIBIT INDEX TO FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-family: Times New Roman,serif">Date of Report:</TD>
    <TD STYLE="width: 50%; font-family: Times New Roman,serif; text-align: right">Commission File No.:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">November 13, 2012</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right">001-34839</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom; width: 16%; font-family: Times New Roman,serif; font-weight: bold">Exhibit <BR> Number</TD>
    <TD STYLE="vertical-align: top; width: 1%; font-family: Times New Roman,serif; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 83%; font-family: Times New Roman,serif; font-weight: bold; text-align: center">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif">99.1</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman,serif">Press Release dated November 13, 2012</TD></TR>
</TABLE>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>elmd124739_ex99-1.htm
<DESCRIPTION>PRESS RELEASE DATED NOVEMBER 13, 2012
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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 9pt/115% Sans-Serif; margin: 0; color: Red"><B><IMG SRC="image_001.jpg" ALT=""></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Contact: </B><BR>
<BR>
</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">James J. Cassidy, Ph.D.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Interim Chief Executive Officer</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Electromed, Inc.<BR>
952-758-9299<BR>
jcassidy@electromed.com</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ELECTROMED, INC. REPORTS FY2013 FIRST
QUARTER RESULTS</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>New Prague, Minnesota &ndash; November 13, 2012</B> &ndash;
Electromed, Inc. (NYSE MKT: ELMD) today announced financial results for the three-month period ended September 30, 2012. Net revenues
for the three months ended September 30, 2012 were approximately $4,031,000, a 25.1% decrease compared to net revenues of approximately
$5,379,000 for the same period last year. The Company also announced a net loss of approximately $71,000, or $0.01 per basic and
diluted share, for the three months ended September 30, 2012, compared to net income of approximately $246,000, or $0.03 per basic
and diluted share, for the same period last year. Net revenues decreased in correlation with turnover in the sales force and a
decrease in the number of Clinical Area Managers (CAMs) with over one year of experience, as well as lower referral counts. Net
loss results were attributable to lower net revenues, offset by decreased expenses related to decreases in sales force and operating
efficiencies designed to better align expenses with demand.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Gross profit decreased to approximately $2,821,000, or 70.0%
of net revenues, for the three months ended September 30, 2012, compared to $4,069,000, or 75.6% of net revenues, for the same
period in Fiscal 2012. The decrease in gross profit dollars resulted primarily from the decrease in sales volume. The change in
gross profit percentage for the three-month period ended September 30, 2012 was primarily the result of lower than average reimbursement
from the Company&rsquo;s mix of referrals compared to the three-month period ended September 30, 2011. Factors such as diagnoses
that are not assured of reimbursement and insurance programs with lower allowable reimbursement amounts (for example, state Medicaid
programs) affect average reimbursement received on a short-term basis. These factors tend to cause margins to fluctuate on a quarterly
basis. However, management does not believe the results of the quarter ended September 30, 2012 are indicative of a long-term decrease
in margins.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Operating expenses, which consist of selling, general, and
administrative expenses and research and development expenses, were approximately $2,917,000 for the three months ended September
30, 2012, a decrease of approximately 17.2% over total operating expenses for the same period last year. The decrease primarily
resulted from lower sales volume and lower associated selling and patient training costs; decreased payroll as a result of lower
commissions and lower overall management compensation; and a reduction in marketing fees. Lower research and development expenses
were due primarily to discontinuing the use of a certain outside vendor.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results for the Three Months Ended September 30, 2012</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Page 2</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Total cash and cash equivalents were approximately $1,483,000
as of September 30, 2012. For the three months ended September 30, 2012, cash used in financing activities was approximately $110,000,
consisting of payments on long-term debt and capital lease obligations. An aggregate of $224,000 was used for investing activities
during the three months ended September 30, 2012, including $27,000 in payments for patent-related costs and $197,000 in expenditures
for property and equipment. Net cash provided by operating activities was approximately $114,000, composed primarily of a decrease
in the Company&rsquo;s receivable position of approximately $435,000, or 4.0%, to approximately $10,400,000 during the three months
ended September 30, 2012. The change in total cash position was a decrease of approximately $220,000, as compared to a decrease
of $1,146,000 during the same period in calendar year 2011.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Jim Cassidy, Ph.D., Electromed&rsquo;s Interim CEO, said &ldquo;We
continued to experience turnover in our sales force during the first quarter. Midway through the quarter we added to the strength
of our management team by hiring a new Director of Sales. Subsequent to the end of the quarter, we realigned sales territories
and instituted a new compensation plan designed to drive future sales growth. We saw significant improvement in sales performance
in October that we attribute to those changes. We also brought marketing functions in-house at considerable savings and sought
operating efficiencies throughout our organization to bring expenses in line with demand. These efforts are ongoing and are expected
to contribute to improvements in profitability in the future.&rdquo;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>About Electromed, Inc.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Electromed, Inc., founded in 1992 and headquartered in New
Prague, Minnesota, manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest<SUP>&reg;</SUP>
Airway Clearance System and related products to patients with compromised pulmonary function. Further information about the Company
can be found at www.electromed.com.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0"><B><I>Cautionary Statements</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #444749"><I>Certain statements found
in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect the speaker&rsquo;s current views with respect to future events and financial performance and
include any statement that does not directly relate to a current or historical fact. Forward-looking statements can generally be
identified by the words &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate&rdquo; or &ldquo;intend&rdquo; or similar
words. </I></FONT><I><FONT STYLE="color: #333333"> </FONT><FONT STYLE="color: #444749">Forward-looking statements made in this
release include the Company&rsquo;s plans and expectations regarding long-term margins, future sales growth and profitability.
Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known
and unknown, associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to,
the impact of emerging and existing competitors, the effectiveness of our sales and marketing initiatives, changes to reimbursement
programs, </FONT><FONT STYLE="color: #333333">as well as other factors described from time to time in our reports to the Securities
and Exchange Commission (including our Annual Report on Form 10-K). Investors should not consider any list of such factors to be
an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account
when making investment decisions. Shareholders and other readers should not place undue reliance on &ldquo;forward-looking statements,&rdquo;
as such statements speak only as of the date of this release. </FONT></I></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 6pt 0 0">Financial Tables Follow:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center">-more-</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results for the Three Months Ended September 30, 2012</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Page 3</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. and Subsidiary</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Condensed Consolidated Balance Sheets</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">September 30,</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">June 30,</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-weight: bold; text-align: center">Assets</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">(Unaudited)</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Current Assets</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 70%; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Cash and cash equivalents</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">1,482,555</TD>
    <TD STYLE="width: 1%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">1,702,435</TD>
    <TD STYLE="width: 1%; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Accounts receivable (net of allowances for doubtful accounts of $45,000)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">10,415,488</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">10,850,859</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Inventories</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">2,305,276</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">2,392,416</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Prepaid expenses and other current assets</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">463,426</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">359,583</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Income tax receivable</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">405,494</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">340,744</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Deferred income taxes</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">656,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">656,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total current assets</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">15,728,239</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">16,302,037</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Property and equipment, net</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,254,872</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,170,014</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">Finite-life intangible assets, net assets, net</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,167,136</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,174,033</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">Other assets</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">290,689</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">274,940</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total assets</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">20,440,936</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">20,921,024</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%; font-weight: bold">Liabilities and Equity</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Current Liabilities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Revolving line of credit</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">$</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,768,128</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">$</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,768,128</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Current maturities of long-term debt</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">159,869</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">254,020</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Accounts payable</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">554,086</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">749,985</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Accrued compensation</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">484,812</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">636,995</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Warranty reserve</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">604,000</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">610,000</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Other accrued liabilities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">165,144</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">151,558</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total current liabilities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,736,039</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">4,170,686</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Long-term debt, less current maturities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,374,353</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,390,003</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">Deferred income taxes</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">280,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">280,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total liabilities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">5,390,392</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">5,840,689</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">Commitments and Contingencies</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">Shareholders&rsquo; Equity</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Common stock, $0.01 par value; authorized: 13,000,000; shares; issued and outstanding:&nbsp;8,114,252</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">81,143</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">81,143</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Additional paid-in capital</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">13,000,453</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">12,959,136</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Retained earnings</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">1,968,948</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">2,040,056</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total equity</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">15,050,544</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">15,080,335</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 34.55pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total liabilities and equity</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">20,440,936</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">20,921,024</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 8pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center">-more-</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results for the Three Months Ended September 30, 2012</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Page 4</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. and Subsidiary</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Condensed Consolidated Statements of Income (Unaudited)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">For the Three Months Ended<BR> September&nbsp;30,</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2011</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="width: 70%; line-height: 115%">Net revenues</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">4,031,286</TD>
    <TD STYLE="width: 1%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">5,378,918</TD>
    <TD STYLE="width: 1%; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">Cost of revenues</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">1,210,452</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">1,309,565</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 25.9pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Gross profit</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">2,820,834</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">4,069,353</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Operating expenses</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">&nbsp;&nbsp;&nbsp;Selling, general and administrative</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">2,816,015</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,399,806</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;&nbsp;&nbsp;Research and development</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">101,189</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">217,085</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 25.9pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Total operating expenses</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">2,917,204</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">3,616, 891</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 25.9pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Operating income (loss)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(96,370</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">452,462</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 8.65pt; line-height: 115%; text-indent: -8.65pt">Interest expense, net of interest income of $4,348 and $2,027 respectively</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">36,738</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">43,923</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 25.95pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net income (loss) before income taxes</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(133,108</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">408,539</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">Income tax benefit (expense)</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">62,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(163,000</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 25.95pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net income (loss)</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">(71,108</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">245,539</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 8.65pt; line-height: 115%; text-indent: -8.65pt">Earnings (loss) per share:</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Basic and diluted</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">(0.01</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">0.03</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 8.65pt; line-height: 115%; text-indent: -8.65pt">Weighted-average common shares outstanding:</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Basic</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">8,114,252</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">8,100,915</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 17.3pt; line-height: 115%; text-indent: -8.65pt">Diluted</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">8,114,252</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">8,119,190</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center">-more-</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results for the Three Months Ended September 30, 2012</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Page 5</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Electromed, Inc. and Subsidiary </B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>Condensed Consolidated Statements of Cash Flows (Unaudited)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">For the Three Months Ended September 30,</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; line-height: 115%; font-size: 8pt; font-weight: bold; text-align: center">2011</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Cash Flows From Operating Activities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 70%; padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Net income (loss)</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">(71,108</TD>
    <TD STYLE="width: 1%; line-height: 115%">)</TD>
    <TD STYLE="width: 3%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%">$</TD>
    <TD STYLE="width: 10%; line-height: 115%; text-align: right">245,539</TD>
    <TD STYLE="width: 1%; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Depreciation</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">114,979</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">90,552</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Amortization of finite-life intangible assets</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">33,969</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">30,006</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Amortization of debt issuance costs</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,363</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,297</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Share-based compensation expense</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">41,317</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">31,053</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Loss on disposal of property and equipment</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">3,915</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">9,864</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Changes in operating assets and liabilities:</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0.5in; line-height: 115%; text-indent: -8.65pt">Accounts receivable</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">435,371</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(807,361</TD>
    <TD STYLE="line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 0.5in; line-height: 115%; text-indent: -8.65pt">Inventories</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">87,140</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(307,845</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0.5in; line-height: 115%; text-indent: -8.65pt">Prepaid expenses and other assets</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(187,706</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(77,186</TD>
    <TD STYLE="line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.5in; line-height: 115%; text-indent: -8.65pt">Accounts payable and accrued liabilities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(347,226</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(40,754</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 45pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net cash provided by (used in) operating activities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">114,014</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(822,835</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 8.65pt; line-height: 115%; text-indent: -8.65pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 115%">Cash Flows From Investing Activities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Expenditures for property and equipment</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(197,020</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(215,311</TD>
    <TD STYLE="line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Expenditures for finite-life intangible assets</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(27,073</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(21,750</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 45pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net cash used in investing activities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(224,093</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(237,061</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 8.65pt; line-height: 115%; text-indent: -8.65pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="line-height: 115%">Cash Flows From Financing Activities</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Principal payments on long-term debt including capital lease obligations</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(109,801</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(109,970</TD>
    <TD STYLE="line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Proceeds from options/warrants exercises</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&mdash;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">1,800</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Proceeds from subscription notes receivable</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">&mdash;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">22,500</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 1pt; padding-left: 45pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net cash used in financing activities</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(109,801</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">(85,670</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 45pt; line-height: 115%; font-weight: bold; text-indent: -8.65pt">Net decrease in cash and cash equivalents</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(219,880</TD>
    <TD STYLE="line-height: 115%">)</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">(1,145,566</TD>
    <TD STYLE="line-height: 115%">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-left: 0.25in; line-height: 115%; text-indent: -8.65pt">Cash and cash equivalents</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">Beginning of period</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">1,702,435</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; line-height: 115%; text-align: right">4,091,739</TD>
    <TD STYLE="padding-bottom: 1pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 27pt; line-height: 115%; text-indent: -8.65pt">End of period</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">1,482,555</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%">$</TD>
    <TD STYLE="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">2,946,173</TD>
    <TD STYLE="padding-bottom: 2.5pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center">####</P>



<P STYLE="margin: 0"></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
