Navigation Links
AMDL Reports Going Concern Qualification
Date:5/9/2008

TUSTIN, Calif., May 9 /PRNewswire-FirstCall/ -- AMDL, Inc. (Amex: ADL), an international vertically integrated specialty pharmaceutical company with operations in China through its wholly owned subsidiary, Jade Pharmaceutical Inc., today announced that its consolidated financial statements for the year ended December 31, 2007, which were included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 14, 2008, contained a 'going concern' qualification from its independent registered public accounting firm KMJ Corbin & Company LLP. This announcement is in compliance with the AMEX Company Guide Rule 610(b) requiring a public announcement of the receipt of an audit opinion that contains a going concern qualification. This announcement does not reflect any change or amendment to the consolidated financial statements as filed. Further information regarding the going concern qualification is contained in AMDL's Annual Report on Form 10-K for the year ended December 31, 2007.

Mr. Gary Dreher, CEO, stated, "Significant improvements in AMDL's China operations combined with other recently announced events provide a financial platform for the Company to improve its sales and earning profile during the second half of FY2008 and beyond, giving us greater confidence in AMDL's financial performance in 2008. Accordingly, we anticipate AMDL will be to in a position to have our auditors remove the 'going concern' qualification after the end of the current fiscal year." The business improvement and opportunities referenced above include:

* FY2007 Sales of $15 million and, Gross Profits of $8.1 million;

* In-licensed Human Papilloma Virus ("HPV") Diagnostic Test;

* Signed LOI for the Purchase a China Based Pharmaceutical Distribution

Company;

* Signed an MOU for 200 Store Distribution Arrangements for theGoodnak

Product Line;

About Jade Pharmaceutical: Jade has access to the fastest growing pharmaceutical and consumer market in the world: China. AMDL, through its subsidiaries, Jade currently manufactures large volume injection fluids, tablets and other related products, holding licenses for 133 products. It also manufactures 107 generic, over the counter and supplemental pharmaceutical products under certified Chinese Good Manufacturing Practice (CGMP) standards.

About AMDL: More information about AMDL and its products can be obtained at http://www.amdl.com.

Contact: AMDL, Inc.

Mr. Paul Knopick

AMDL Investor Relations

Direct Line: 949.707.5365

VoiceMail: 714.505.4460


'/>"/>
SOURCE AMDL, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. AutoImmune Inc. Reports 2008 First Quarter Financial Results
2. Bioniche Reports Fiscal 2008 Third Quarter
3. DRAXIS Health Reports Results for the First Quarter of 2008
4. Par Pharmaceutical Reports First Quarter 2008 Results
5. Air Methods Reports 1Q2008 Results and 2Q2008 Update
6. Genoptix Reports Strong Financial Results for First Quarter 2008
7. IDM Pharma Reports First Quarter Financial Results
8. General Nutrition Centers, Inc. Reports First Quarter 2008 Financial Results
9. Orchid Cellmark Reports First Quarter 2008 Financial Results
10. Neurotechnology Industry Reports Record Global Growth of $130.5 Billion in 2007
11. Micromet, Inc. Reports First Quarter 2008 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/6/2016)... , ... December 06, 2016 , ... ... availability of the newly updated International Audit Protocol Consortium (IAPC) EHS audit protocol ... audit protocols to understand the scope of their EHS regulatory obligations and rapidly ...
(Date:12/6/2016)... ... 06, 2016 , ... U.S. Security Associates (USA) was named ... their industry leading training methods that engage their associates and link their achievements ... elite in employer-sponsored training and development programs. , “The 2017 Training Top 125 ...
(Date:12/5/2016)... , ... December 05, 2016 , ... ... its latest transitional care facility – Avamere Transitional Care of Puget Sound ... foot short-term, post-acute health care center will provide patients recovering from illness or ...
(Date:12/5/2016)... St. Petersburg, Fla. (PRWEB) , ... December 05, 2016 , ... ... effects concussions have on the growing brains of young athletes. Over the course of ... to the head through unique mouth guards. The mouth guards, equipped with special sensors, ...
(Date:12/5/2016)... ... December 05, 2016 , ... Physicians Education Resource®, ... International Congress on Hematologic Malignancies®: Focus on Leukemias, Lymphomas, and Myeloma, on February ... are honored to have Amy E. Herman present at this year’s conference, her ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... Research and Markets has announced the addition of ... & Biochemical Research, Disease Diagnostics), End User (Academic & Research Institutes, ... to their offering. ... , The western blotting market ... 574.8 Million in 2016, growing at a CAGR of 4.9%. ...
(Date:12/5/2016)... 5, 2016   BIOTRONIK today announced the ... study evaluates the safety and feasibility of performing the ... setting. BioMonitor 2 is an insertable cardiac ... placed underneath a patient,s skin to help physicians accurately ... fibrillation is a leading cause of stroke and heart ...
(Date:12/5/2016)... Dec. 5, 2016  CVS Health, the nation,s largest ... a perfect score of 100 percent on the Corporate ... CEI is an annual national benchmarking survey and report ... administered by the Human Rights Campaign Foundation. ... that our colleagues, customers and suppliers bring to CVS ...
Breaking Medicine Technology: