TheTruthseeker.com Announces Investment Opinion on Premiere Laser Systems, Inc
Business Wire, Sept 1, 1999
N.J.--(BUSINESS WIRE)--Sept. 1, 1999--
TheTruthseeker.com Initiates Coverage On Premiere Laser Systems,
Inc. With an Immediate Sell Recommendation
Today Premiere Laser (NASDAQ:PLSIA) announced a 510K FDA approval on it's BLULAZE system.
After considering PLSIA's history of problems and their ongoing SEC investigation into fraudlent revenue recognition, the outstanding litigation involving a class action lawsuit, we are advising the public and our members to sell their shares immediately.
Additionally after reviewing PLSIA's latest quarterly report filed Aug. 16, 1999 it is clear that they face a significant cash crisis, including their reported "Cash and Cash Equivalents" of less than $900,000 versus current liabilities of $9.9 million.
We believe PLSIA's announced FDA approval of a new dental device is insignificant and immaterial, as the product is expensive and merely another version of existing technology.
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