BOSTON, Jan. 6, 2011 /PRNewswire/ -- Solos Endoscopy, Inc. (Pink Sheets: SNDY) is pleased to announce that the Company looks towards continued growth in 2011 through new product development, new product sales and the completion of the requirements for its ISO 13485 quality management system (QMS) initiative, which is a major step in obtaining the CE Mark and the permission to sell medical devices in the European Union.
Early in 2010, Solos retained Expert Resource (ER) to provide consulting services in support of the Company's ISO 13485 quality management system (QMS) initiative as well as obtaining the CE Mark. Since this time, the Company has successfully completed Phase One (of Four) requirements for the Company's ISO 13485 quality management system (QMS) initiative. In addition to this milestone, Solos announced in March 2010 that the Company had secured the U.S. Trademark registration (#3637510) for the protection of the MammoView® name. Throughout 2010, the Company remained focused on new product design and development announcing the design of a new Polymer Dilator and separate Relay Lense Adapter System for the MammoView ® Product Line.
As the first six months of 2010 drew to a close, the Company appointed Fred Schiemann as CFO and Director to provide financial leadership amidst growth. Mr. Schiemann brings a strong administrative background in the small-cap company sector as well as expertise in taxation, auditing and public securities work. As a result, later in 2010, Solos followed by announcing that the Company's management had approved its 2011 recapitalization plan in order to position itself for growth over the next twelve months. The recapitalization plan allows Solos greater flexibility to utilize the assets of the Company in the future for corporate purposes; including raising capital, acquisitions or employee compensation, with limited dilution of existing stockholder voting rights. As part of the plan, Solos had completed a capital restructuring initiative that involved a common stock consolidation that took effect November 24, 2010.
"We are excited about the progress that Solos has made in 2010. We remain committed to our R&D efforts and expanding our presence overseas through the completion of the ISO certification and ultimately obtaining the CE Mark," stated Bob Segersten, President of Solos Endoscopy, Inc.
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a HealthCare instrument company whose mission is to develop and market high quality and innovative instruments for the screening, diagnosis, treatment and management of medical conditions. Additional information on its FDA approved products is available on the Company's website at: www.solosendoscopy.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
|SOURCE Solos Endoscopy, Inc.|
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