IMDS...too much Reg S on this puppy...Always a bad sign IMO..good luck.
sec.yahoo.com
"LIQUIDITY AND CAPITAL RESOURCES
The Company has financed its operating and research and development activities through several
Regulation S and Regulation D private placement transactions. Net cash used for operating and
research and development expenses during the third quarter of 1998 was $1,072,828 primarily due to
the Company's continued research and development of the CTLM(TM) device and preparations for
FDA Clinical Trials including the manufacture of five (5) CTLM(TM) Breast Imaging Systems,
compared to net cash used by operating activities of research and development of the CTLM(TM)
device and related software development of $2,195,959 in the same quarter of 1997. At March 31,
1998, the Company had a working capital of $1,301,900 compared to a working capital of $3,016,343
at March 31, 1997.
During the third quarter of 1998, the Company was able to raise a total of $1,690,000 less expenses
through Regulation S transactions. The Company may continue to receive working capital from the
exercise of stock options, private placements and long term debt and operations."
Brett |
