ITEM 2.02. RESULTS OF OPERATION AND FINANCIAL CONDITION.

Alliance Pharmaceutical Corp (the "Company") has been unable to obtain an audit of the annual financial statements contained in the attached Exhibit 99.1 by an independent registered accounting firm using professional auditing standards and procedures, although such an audit is required by Form 10-K pursuant to Rule 10-01(d) of Regulation S-X. Currently, the Company does not have the funds to pay an independent registered accounting firm to audit the annual financial statements and, therefore, is unable to file a Form 10-K for the year ended June 30, 2009 as required by applicable SEC rules. As a result, the Company has furnished the information that would otherwise be filed in its Form 10-K in Exhibit 99.1 attached hereto in order to disclose information about the Company's financial state of affairs in a timely fashion.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) EXHIBITS Exhibit No. Description ----------- ----------- 99.1 Report of Alliance Pharmaceutical Corp. for the fiscal year ended June 30, 2009.