Applies to -- CDIK
Coronado Industries Projects Potential Earnings From Sales of PNT Equipment
Coronado Industries Projects Potential Earnings From Sales of PNT
Equipment
FOUNTAIN HILLS, Ariz., Jan 11, 2000 (BUSINESS WIRE) -- Coronado
Industries, Inc. (OTC BB: CDIK), a manufacturer of proprietary
pneumatic devices for the effective treatment of glaucoma, today
announced projected earnings based on the sale, pending FDA approval,
of its PNT(tm) equipment and patented disposable ring.
Coronado President Gary Smith commented, "Upon FDA approval, we will
market our equipment to a minimum sales base of 50,000 doctors,
comprised of 32,000 optometrists and 18,000 ophthalmologists, just in
the United States alone. If we can sell only 1 out of every 10 doctors,
a total of 5,000 doctors, we will realize $72,500,000 in gross revenues
from equipment sales."
In addition to sales in the United States, an even larger potential
market exists in China, Europe, and other parts of the world. Glaucoma,
the disease treated by PNT, afflicts nearly 66 million people
worldwide.
Smith continued, "In addition to revenues from the initial sale, yearly
revenues of $62,500,000 in sales of the disposable ring would be
generated to support the equipment in the field."
Gary Smith concluded, "We at Coronado Industries, Inc. are confident
that our PNT equipment will soon become a standard piece of equipment
in any doctor's office, much like today's microscope. We also believe
that PNT will become the first line of treatment for glaucoma, because
of its effectiveness in clinical tests, and the apparent absence of
side effects."
Coronado Industries, through its wholly owned subsidiaries American
Glaucoma and Opthalmic International, has developed and tested the
patented procedure Pneumatic Trabeculoplasty (PNT(tm)), a non-invasive,
highly effective, and low-cost alternative to traditional treatments.
Currently, the Company's pneumatic suction device and treatment are
available throughout the European marketplace. Coronado awaits FDA
approval, upon which it will license its patented treatment procedure
and equipment in the United States.
For additional information, see www.coronadoindustries.com
Forward-looking statements in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including without
limitation, continued acceptance of the Company's products, increased
levels of competition for the Company, new products and technological
changes, the Company's dependence on third-party suppliers, and other
risks detailed from time to time in the Company's periodic reports
filed with the Securities and Exchange Commission.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Coronado Industries
Richard Smith
480-837-6810
cdik837@aol.com
or
OTC Financial Network
Geoffrey Eiten/Robert Weiss
800-375-4678/781-444-6100 ext. 13
geiten@otcfn.com
WEB PAGE: businesswire.com
GEOGRAPHY: ARIZONA
INDUSTRY CODE: MEDICAL
DEVICE
MANUFACTURING
MEDICAL
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