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the Chinese State Food and Drug Administration ("SFDA") for its
MedicRead Colon workstation. Medicsight will launch this workstation
via a Chinese dealer network which gives the Company access to almost
1000 sales representatives. China is one of the world's fastest
growing medical imaging markets.
-- In April 2008, MGT's Medicsight PLC subsidiary announced a new global
partnership with INFINITT, one of the world's leading medical imaging
and picture archiving and communication systems (PACS) companies.
Combined INFINITT-Medicsight products for the detection of colorectal
cancer will be distributed using INFINITT's global network of offices
in six strategic countries and partners and sales channel
representatives in 20 other countries worldwide. INFINITT is currently
the PACS market leader in South Korea and is experiencing rapid growth
in other major markets.
-- In February 2008, MGT's Board authorized a buyback of up to 1,000,000
shares of MGT stock between February 14, 2008 and December 31, 2008,
and announced in the following month that it had contracted to buy back
an additional 5,349,793 MGT shares. On March 31, 2008, the Company
announced that it had purchased additional shares in its Medicsight PLC
subsidiary through the open market. The Company purchased an
additional 1.0 million shares and now holds 86.0 million shares (55%)
of Medicsight PLC.
Financial Results for the quarter ended March 31, 2008
For the three months ended March 31, 2008 our revenues from operations were $52,000, compared to $0 for March 31, 2007. Revenue for the 2008 period is from the sale of Medicsight software licenses and from Medicexchange's online advertising and offline product revenues.
Total operating expenses for
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| SOURCE MGT Capital Investments, Inc. Copyright©2008 PR Newswire. All rights reserved |