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Solos Endoscopy Posts Total Assets of $2,426,883 for Period Ended June 30, 2012
Date:8/16/2012

BOSTON, Aug. 16, 2012 /PRNewswire/ -- Solos Endoscopy, Inc. (OTCPK: SNDY) is pleased to announce that the Company has posted its financial results for the Period Ended June 30, 2012.  Solos Endoscopy posted Total Assets of $2,426,883 compared to Total Liabilities of just $214,827 for the same period.  The financials are posted on OTC Markets.com http://www.otcmarkets.com/stock/SNDY/filings.    

The Company reduced the cost of a consulting contract in 2012 reducing its monthly costs from $40,000 to $20,000 per month.  In addition, payments on the contract were forgiven for the first quarter of 2012.  During the six months ended June 30, 2012, the Company received $395,800 in proceeds from the sale of its preferred stock and additional $76,500 in advances against the future sale of its preferred stock in the third quarter.  The cash used for operations during the first six months of 2012 was $227,756, and was primarily used to reduce Accounts Payable.  Solos Endoscopy was able to close out the Quarter with a cash assets of $146,882 which was a substantial improvement from just $6,598 the prior year.

The Company substantially reduced its payables and other debt in the first six months of 2012 by approximately $640,000.  Solos expects, due to the restructuring and pay off of its debt, that it is in a better position to expand its marketing efforts and generate positive cash flow from its operations. 

Throughout the year, Solos has focused its R & D efforts into the design and development of new modifications to its endoscopic instrument lines to accommodate the continual advances in Laparoscopic surgical procedures. This includes the introduction of the new SteriTAP™ instrument line and the addition of Bariatric instruments for procedures for the most overweight sectors of our population. Solos now offers all of its instru
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SOURCE Solos Endoscopy, Inc.
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