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Total revenues increased $29,101 and $34,303 for the three and six months ended December 31, 1996 as compared to the same periods for 1995....
Marketing, general and administrative expenses decreased $12,853 and increased $45,380 for the three and six months ended December 31, 1996.....
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Cash on hand and accounts receivable were $487,675 at December 31, 1996. In addition, the Company has Cardiointegraph equipment, in the final stages of manufacture, which will be available to lease on a fee for service basis.
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The Company licensed its CIG technology to Compumed, Inc. ("CMPD") to enable CMPD to offer the CIG as a service to subscribers to CMPD's service which interprets electrocardiographic (EKG) signals transmitted telephonically to CMPD's central computer. During March 1994, CMPD commenced offering the CIG service to CMPD's customers. To
date, the Company has not received significant revenues from CMPD for the service. The Company is totally dependant upon CMPD for the marketing effort to CMPD's customers.
Based on the experience to date, the Company does not believe that the service will be marketed successfully by CMPD.
The Company believes that it could provide sufficient working capital from operations through marketing the PrimeCare(TM) System and marketing the CIG as a service.
Currently, the Company has no lines of credit and has no material commitments for capital expenditures outstanding. |
