Given the continuing losses and the Company's current cash position available for working capital, the November 30, 2007 financial statements contain an unqualified opinion with a going concern uncertainty emphasis paragraph that raises substantial doubt about the Company's ability to continue as a going concern.
About QMed, Inc.
QMed has developed evidence-based clinical information management systems for use by health plan customers. The QMed systems incorporate Disease Management services to patients and decision support to physicians. The Company's subsidiaries have specialized in serving high-risk populations of Medicare beneficiaries.
Except for historical information contained herein, matters discussed
in this news release are forward-looking statements that involve risks and
uncertainties. They include but are not limited to those relating to the
timely implementation of programs, the impact of competitive product
introductions, acceptance and pricing, and those risks detailed in the
Company's filings with the Securities and Exchange Commission (SEC). Actual
results may differ materially from any forward-looking statements due to
these risks and uncertainties.
Contact: William Schmitt, QMed, Inc. - 732-544-5544 x1112
QMED, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
Cash and cash equivalents $1,196,030 $2,313,261
Investments in securities - 8,547,525
Accounts receivable, net of
allowance for doubtful accounts
of $58,980 and $53,558,
|SOURCE QMed, Inc.|
Copyright©2008 PR Newswire.
All rights reserved