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Biotech / Medical : PLSIA (Premier Laser Systems) -- Ignore unavailable to you. Want to Upgrade?

To: Arcane Lore who wrote (1612)	6/25/1998 10:24:00 PM
From: Pluvia	Read Replies (1) \| Respond to of 1773

As we wait to see if NASDAQ ever lets this dog trade again, I figured it would be fun to read some of last years PLSIA Press releases (IMO) classic bits of fraud & fiction full of great quotes for certain investigators... Way to go Cozean!!!! *********************** IRVINE, Calif.--(BUSINESS WIRE)--May 20, 1997--Premier Laser Systems Inc. (NASDAQ NM:PLSIA) Tuesday said that after the FDA cleared its Centauri Er:YAG to market for hard-tissue dentistry, the response from the dental community and the public has been very strong, clogging phone lines with hundreds of calls daily and swamping the company's Web site with up to 12,000 hits per day. Chairman, President and Chief Executive Officer Colette Cozean, Ph.D said that the opportunity for virtually painless hard-tissue dentistry has very widespread appeal. Cozean commented: "We originally estimated that of the 120,000 Dentists currently in practice in the United States, we would hear from one to two percent as 'early adopters' in the first 12 to 18 months. It is now apparent that the level of enthusiasm among dentists and patients may be much higher than that. As of last week, we had logged more than 1,200 expressions of interest. "On average, about 10 percent of calls have ordered a Centauri by phone; about 20 percent have signed up for training courses; about 50 percent have requested specifications and/or other literature on Centauri and/or our other dental lasers; the remaining 20 percent have asked specific questions that were answered with no further follow-up needed. Our communications media -- phones, faxes, Web site -- have been stretched beyond capacity, so we have no idea the number of calls we have not been able to take." Cozean said that Premier Laser plans to ship the first 8 Centauri hard-tissue systems this month, with one to two dozen more in June. She said: "The larger ramp in shipments is likely to begin over the summer, after we have been able to conduct more training courses and procure more long lead-time components. At this point we believe we can manufacture up to 400 systems or so before the end of our fiscal year on March 31, 1998; we are examining ways in which to increase that build schedule to accommodate demand." CFO Michael Hiebert said that numerous holders of the company's publicly traded warrants (NASDAQ NM:PLSIW and PLSIZ) have exercised warrants over the past two weeks. He said that the quantity of exercises and the proceeds to the company will be announced when data is available from the transfer agent, which is backlogged with exercises. He said that the company's need for additional working capital to support the ramp in manufacturing and deliveries appears to be more than satisfied by these exercises. Cozean said that the company's introductions of ophthalmic lasers will roll out as planned over the summer. She said that several ophthalmic Er:YAG systems are already scheduled to be shipped in the quarter ending June 30, 1997. She also said that the enlightened level of activity in hard-tissue lasers has not interrupted the order flow and shipment rate of the company's Multi Operatory Dentalaser (argon) lasers and its Aurora (diode) lasers, which are used for teeth whitening, composite curing and soft-tissue procedures. Orders for these systems continue to flow in at the rate of approximately 1 to 2 systems per working day.