And NIMU announces earnings today . . .
MIAMI BEACH, Fla.--(BUSINESS WIRE)--Dec. 15, 2000--Non-Invasive
Monitoring Systems, Inc. (NIMS) (OTC:NIMU), announces results for the
first quarter ended October 31, 2000.
For the quarter ended October 31, 2000, NIMS reported a profit of
approximately $37,000 compared to a loss of approximately $99,000 for
the quarter ended October 31, 1999. For the quarter ended October 31,
2000, total revenue was approximately $257,000 compared to
approximately $83,000 in quarter ended October 31, 1999.
Non-Invasive Monitoring Systems, Inc. (the "Company" or "NIMS") is
engaged in the research and development of computer assisted,
non-invasive monitoring devices and related software designed to
detect abnormal respiratory, cardiac, and other medical conditions
from sensors placed externally on the body's surface. These devices
provide diagnostic information regarding cardiorespiratory and sleep
disorders in infants, children and adults; in addition, alarms are
sounded for adverse cardiac and respiratory events in critically ill
patients. In addition, NIMS has developed a therapeutic motion
platform that imparts periodic acceleration to the body.
During the first quarter 2000, NIMS continued development of the
LifeShirt system, on behalf of VivoMetrics, Inc. (formerly called
LifeShirt.com, Inc.). This product incorporates an array of NIMS'
patented sensor technologies for continuous monitoring of
cardiopulmonary signs into a wearable garment along with an
electrocardiogram and position sensor. NIMS designed and tested an
electronic module for the LifeShirt which interfaces to flash memory
and a PDA worn on the body. Over 40 physical and emotional signs of
health and disease together with the patient's symptoms, mood and
activities are sent to VivoMetrics, Inc.'s data collection center for
quality control, review, report generations, and data storage. Data
analysis is based upon an upgrade of software written by NIMS. In
August, 2000, NIMS entered into agreements to assign its patents
relating to the LifeShirt system technology to VivoMetrics, Inc. while
licensing to NIMS the rights to the sale of products in bedside
monitoring devices except for ambulatory monitoring. Furthermore,
VivoMetrics, Inc. signed a Research and Development agreement with the
Company, which the Company anticipates, will wholly fund NIMS'
operations through August 2001. NIMS holds an equity position in
VivoMetrics, Inc. as well as future royalties based upon revenues of
VivoMetrics, Inc. arising from the sales and marketing of the
LifeShirt system. Testing of the LifeShirt system in clinical drug
evaluations is scheduled to begin in February 2001. Reference to the
LifeShirt system appeared in December issues of South Florida The
Business Journal, BusinessWeek, Time, and Newsweek magazines.
NIMS is continuing its development of a therapeutic motion
platform that produces repetitive head to foot motion, a new direction
for the Company's business. In experiments, this device produces
"Non-Invasive Motion Ventilation," a new means to achieve ventilation
at breath volumes lower than natural breathing and with rates that are
more rapid. This modality does not impose positive pressure on the
lungs either in normal or diseased lungs thereby reducing potential
for damage to lung tissue as often occurs with conventional positive
pressure mechanical ventilation. Dr. Jose Adams, Chief of Neonatology,
Mt. Sinai Medical Center, Miami Beach, FL Beach, published two papers
on these findings in the December issue of Journal of Applied
Physiology. Further, these studies suggested that the motion platform
appeared to release nitric oxide from the inner lining of blood
vessels. Nitric oxide is the most powerful dilator of blood vessels in
the body and has a major beneficial role in the prevention and
treatment of coronary artery disease, angina pectoris, hypertension,
chronic heart failure, arteriosclerosis, stroke, and venous
thrombosis. The release of nitric oxide during aerobic exercise is
believed to account for the beneficial effects of exercise on the
heart. During the quarter ended October 31, 2000, the Company
fabricated an improved, prototype adult motion platform for testing
purposes. Monitoring of the digital pulse revealed findings consistent
with release of significant quantities of nitric oxide from the inner
lining of blood vessels in normal adults who lay quietly on the device
while headward to footward motion was applied with the platform.
NIMS was notified that the "Reciprocating Movement Platform for
Shifting Subject to and fro in Headwards-Footwards Direction" and its
applications were awarded US Patent 6,155,976 on December 5, 2000.
NIMS also has a Provisional Patent Pending on further applications of
the motion platform. The Company is exploring means to bring this
device to market by itself and with other companies.
This press release contains, in addition to historical
information, forward-looking statements regarding NIMS which represent
NIMS' expectations of benefits including but not limited to statements
regarding industry performance, the Company's operations, performance,
financial condition, business strategies, margins and sales
information, that involve risks and uncertainties. The Company's
actual results could differ materially. For this purpose, any
statements contained in this release that are not statements of
historic fact may be deemed to be forward-looking statements. These
statements, by their nature, involve substantial risks and
uncertainties, certain of which are beyond the Company's control, and
actual results could differ materially depending on a variety of
important factors, including those described in this release and the
Company's filings with the Securities and Exchange Commission.
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Consolidated Financial Summary
2000 1999
First 3 Months Year Ended October 31
Total Revenue $256,595 $83,041
Net Income (Loss) $36,900 ($99,265)
Income (Loss per Share) $0.002 ($0.005)
Number of Shares Outstanding 21,514,726 21,514,726
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CONTACT: Non-Invasive Monitoring Systems, Inc., Miami Beach
James Wong Chong, 305/534-3694
nims@respitrace.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS MEDICAL DEVICES EARNINGS
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