Navigation Links
Escalon(R) Announces Going Concern Qualification

WAYNE, Pa., Oct. 13 /PRNewswire-FirstCall/ -- Escalon Medical Corp. (Nasdaq: ESMC), today announced that its financial statements for the fiscal year ended June 30, 2009, included in the Annual Report on Form 10-K, filed with the Securities and Exchange Commission on October 13, 2009, contain a going concern qualification from its independent registered public accounting firm. This announcement is being made in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of a recent audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's June 30, 2009 financial statements or to its Annual Report on Form 10-K for that fiscal period.

Founded in 1987, the Company ( develops markets and distributes ophthalmic diagnostic, surgical and pharmaceutical products as well as vascular access devices. Drew Scientific, which operates as a separate business unit, provides instrumentation and consumables for the diagnosis and monitoring of medical disorders in the areas of diabetes, cardiovascular diseases and hematology, as well as veterinary hematology and blood chemistry. The Company seeks to utilize strategic partnerships to help finance its development programs and is also seeking acquisitions to further diversify its product line to achieve critical mass in sales and take better advantage of the Company 's distribution capabilities, although such partnerships or acquisitions may not occur. The Company has headquarters in Wayne, Pennsylvania and operations in Long Island, New York, New Berlin, Wisconsin, Lawrence, Massachusetts, Dallas, Texas, Waterbury, Connecticut, Miami, Florida, Barrow-in-Furness, U.K. and Le Rheu, France.

Note: This press release contains statements that are considered forward-looking under the Private Securities Litigation Reform Act of 1995, including statements about the Company's future prospects. These statements are based on the Company's current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include whether the Company is able to:

  • implement its growth and marketing strategies, improve upon the operations of the Company business units, including the ability to make acquisitions and the integration of any acquisitions it may undertake, if any, of which there can be no assurance,
  • implement cost reductions,
  • generate cash,
  • identify, finance and enter into business relationships and acquisitions.

Other factors include uncertainties and risks related to:

  • new product development, commercialization, manufacturing and market acceptance of new products,
  • marketing acceptance of existing products in new markets,
  • research and development activities, including failure to demonstrate clinical efficacy,
  • delays by regulatory authorities, scientific and technical advances by the Company or third parties,
  • introduction of competitive products,
  • ability to reduce staffing and other costs and retain benefit of prior reductions
  • third party reimbursement and physician training, and
  • general economic conditions.

Further information about these and other relevant risks and uncertainties may be found in the Company's report on Form 10- K for year ended June 30, 2009, and its other filings with the Securities and Exchange Commission, all of which are available from the Securities and Exchange Commission as well as other sources.

SOURCE Escalon Medical Corp.

SOURCE Escalon Medical Corp.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Sangamo Announces Closing of Common Stock Offering
2. Catalyst Pharmaceutical Partners, Inc. Announces Organizational Changes and Extension of Chief Executives Employment Agreement
3. Eclipse Announces Partnership with Human Med USA, Manufacturers of Revolutionary Body-Jet(R)
4. Kendle Announces Details Regarding Third Quarter 2009 Earnings Conference Call and Webcast
5. ATS Medical Announces Receipt of CE Mark for the New ATS CryoMaze 10-S Probe
6. SAFC Pharma(R) Announces Completion of $12M Contract Manufacturing Facility Expansion in Carlsbad, Calif.
7. RSB Spine, LLC, Announces FDA Clearance for the InterPlate(R) C-Ti as an Anterior Cervical Plate
8. Sono-Tek Announces Second Quarter Results
9. Dendreon Announces Election of Ian Clark and Pedro Granadillo to Board of Directors
10. Stereotaxis Announces Underwriters Exercise of Over-Allotment Option
11. CSL Behring Announces FDA Approval of Berinert(R), First and Only Therapy Approved for the Treatment of Acute Abdominal and Facial Attacks of Hereditary Angioedema in U.S.
Post Your Comments:
(Date:11/30/2015)... Express Scripts (NASDAQ: ESRX ) today announced it will ... access to a low-cost alternative to Daraprim (pyrimethamine) , ... recently priced out of reach for people with HIV, pregnant ... --> --> Imprimis is offering a compounded ... acid) for $1 per capsule for people whose pharmacy benefit is ...
(Date:11/30/2015)... SINGAPORE , Nov. 30, 2015  QT Vascular ... Vascular", and together with its subsidiaries, TriReme Medical LLC ... global company engaged in the design, assembly and distribution ... of vascular disease, is pleased to announce that a ... Court of Appeals for the Federal Circuit ("Federal ...
(Date:11/30/2015)... , Nov. 30, 2015   Royal ... announced the launch of Radiology Solutions, a fully ... Radiology Solutions comprises customized, data-driven practice management approaches ... to help radiology practices improve care delivery and ... 2015 Radiological Society of North America Annual Meeting ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... Olympic Gold ... are collaborating with brands across various categories through traditional and social media marketing ... an elite group of Gold Medal Moms who can connect with today’s most ...
(Date:11/30/2015)... ... , ... The National Association of Professional Women (NAPW) honors ... Circle. She is recognized with this prestigious distinction for leadership in estate sales and ... than 850,000 members and over 200 operating Local Chapters. , “I’m pleased to welcome ...
(Date:11/30/2015)... ... November 30, 2015 , ... Being a caregiver for someone ... Maryland Health Care System, the Caregiver Support Program promotes the health and wellbeing ... job. Seventy-four percent report that their role as a caregiver has created marital ...
(Date:11/30/2015)... ... November 30, 2015 , ... According to research by the ... dental technicians to be certified or obtain continuing education. To increase awareness of ... Your Mouth?” campaign to inform dentists that the technicians they trust could lack ...
(Date:11/30/2015)... ... November 30, 2015 , ... The Museum ... summer, ushering in a new era of publicly accessible automated technology. Now, by ... continue to offer guests an up-close look at the shuttle at MOSI’s main ...
Breaking Medicine News(10 mins):