Electro-Optical Systems Corp. (EOSC) Message Board

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Biotech / Medical : Electro-Optical Systems Corp. (EOSC)

EOSC 0.0001000

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Jan 2 9:30 AM EST

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To: Angelo Ferraro who wrote ()	7/10/1998 10:20:00 AM
From: Dennis Kershner	Read Replies (2) of 242

I called and spoke with Jim Callahan on 7/9. They are delinquent on their 10K and 10Q submittals, which are expected to be done in the next few weeks. After that, they will continue with their efforts to resume trading on the NASDAQ BB. In addition, they are continuing to work with private investors to secure a bridge loan to help bring the product to market (~500K needed). I spoke with Roy DuPont on 6/15 and he told me that fabrication of the optic mold had been halted, awaiting a cash influx. The mold is about 12 weeks from completion. EOSC has moved to a lower rent building, cut the IR folks, removed the web page, and reduced staff to a few who aren't collecting a salary. Mr. Callahan indicated that they were able to operate in this mode for several months once a few years ago during similar circumstances.

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