Chromatics Color Sciences International. Inc; CCSI Message Board

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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 25.67

-13.8%

2:07 PM EST

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To: Marconi who wrote (5369)	6/16/1999 11:41:00 AM
From: JanyBlueEyes	Read Replies (1) of 5736

Have a nice day.... NEW YORK, June 14 /PRNewswire/ -- Chromatics Color Sciences International, Inc. (Nasdaq: CCSI) has begun mass manufacturing of the Colormate(R) TLc-BiliTest(TM) System for the initial delivery of products required under the Company's recently-announced Licensing and Distribution Agreement with Datex-Ohmeda, Inc. and its Ohmeda Medical division. Under the terms of the Agreement, in addition to 75 units already placed in hospitals under evaluation, the Company will deliver 330 TLc-BiliTest System units to its new distributor within the next 60 days. An additional 500 units will be delivered commencing in four months under a firm purchase order submitted to the Company last week. The Company also has ordered parts for required production of an additional 200 units available for delivery to the distributor within the next six months. The Company's initial manufacturing requirement of TLc-Lensette(TM) calibration standards, which are being ordered periodically by the distributor, is for 1 million Lensettes to provide quantities sufficient to begin supply for each unit placed and for the distributor to meet its annual minimum performance requirements within each licensed market. Under terms of the five-year initial term of the Licensing and Distribution Agreement, the Company is paid a Minimum or Initial Purchase Price for units and Lensettes upon delivery to the distributor and shares in additional revenues from the products sold under terms in the Agreement as set forth in the Company's Form 8-K to be filed this week. In addition to revenues being received from the units currently placed in hospitals under evaluation, the Company will begin receiving revenue from shipments under its Licensing and Distribution Agreement net 30 days, upon the shipment of products to the distributor commencing in approximately 30 days.....

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