Corgenix Becomes A Reporting Company
Important Milestone for Growing Diagnostics Firm
DENVER, Colo., Sept. 16 /PRNewswire/ -- Corgenix Medical Corporation (OTC Bulletin Board: COGX - news) announced today that it has become a reporting company, consistent with Securities and Exchange Commission (SEC) regulations. The SEC has declared Corgenix's Form 10-SB effective as of August 28, 1998. The company will file a Form 1OK-SB for its fiscal year ended June 30, 1998 by September 28, 1998. The change in Corgenix's reporting status will mean that more detailed information on the company and its finances will be publicly available, through its SEC filings.
''It's a significant step -- a milestone,'' said Douglass T. Simpson, President of Corgenix. ''Becoming a reporting company is, in effect, a pledge to ensure that our investors and potential investors have access to timely and important information on our corporate and financial performance. We take this step with confidence and with an unswerving commitment to enhancing shareholder value over the months and years to come.''
Mr. Simpson noted that 1998 has been a banner year for Corgenix, and that the company's operating plan continues to progress well. ''This year we have seen the submission of several new products to the FDA for clearance, the signing of a key licensing agreement that added an important vascular diagnostic kit to our product line, and the progression of our reporting status as a public company. All these developments are positive, consistent with our ongoing operating plan, and bode well for the company's future development.''
On August 26, 1998, Corgenix signed an agreement with American Biogenetic Sciences, Inc. (Nasdaq: MABXA - news; ABS) to promote and distribute ABS' Thrombus Precursor Protein (TpP) diagnostic kit. TpP is an important diagnostic test that is capable of identifying the earliest available evidence of the development of intravascular thrombosis (blood clots), the trigger for deadly forms of cardiovascular disease. According to the American Heart Association, cardiovascular disease is the single leading cause of death in the United States and claims some 42 percent of the 2.2 million Americans who die each year. ''TpP is an excellent addition to our vascular diagnostic line and further affirms our commitment to providing the newest and most specific tests in the ever-expanding cardiovascular disease diagnostic market.''
Corgenix Medical Corporation is based in metropolitan Denver and is focused on the development and promotion of specialized diagnostic test kits for vascular diseases, immunological disorders, as well as bone diseases such as osteoporosis and joint diseases such as arthritis. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world.
Statements in this release that are not strictly historical are ''forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 and should be considered as subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated. For further discussion of factors that may cause results to differ from those anticipated, please refer to reports filed by the companies named herein with the Securities and Exchange Commission.
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Yet the price closed downwards...........Ben |
