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TMED: shareholders of Trimedyne, Inc. (TMED) will receive $5.00 per share according to the terms and conditions of the merger agreement.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
TMED: effective Nov. 18,2016 a one for 150 reverse split:
http://otce.finra.org/DLSymbolNameChanges
Trading under cash??.way undervalued.
Revenue Per Share (ttm): 0.29,Price/Sales (ttm): 0.40
Price/Book (mrq): 0.59
Total Cash (mrq): 1.33M
way undervalued
Nice find.4.4m assets vs 660k debt trading 1m cap.still same 18m O/S
Volume trending up
hit my scanner,Volume
53,100
Average Vol (30d)
16,499
Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
http://ih.advfn.com/p.php?pid=nmona&article=57566452
Wow!! up 61% very nice indeed........
TMED .27 misfired but nice practice shot!
Not enough volume yet to close the gap on bid & ask,TMED is way under valued at It's current price Imo,but somethings definitely up here.....
Quite the bid/ask spread!
What's going on?
Trimedyne, Inc. is a publicly-held, ISO 13485 Certified manufacturer of lasers and disposable fiber-optic delivery devices cleared for sale by the FDA for use in a variety of minimally-invasive surgical applications, including, urology, lithotripsy, orthopedics, spine, arthroscopy, ENT surgery, gynecology, GI surgery, and general surgery.
Trimedyne's lasers and minimally-invasive, patented, single use, side firing fiber-optic devices are used in urology to treat enlarged prostates, and its single use and reusable optical fibers are used to fragment urinary stones in the kidneys, ureter or bladder. Trimedyne's lasers and minimally-invasive, patented, single use, side firing laser needles are also used to treat herniated or ruptured discs in the spine, typically in outpatient procedures.
Trimedyne's lasers and proprietary, fiber-optic laser energy delivery devices are designed to reduce the bleeding and trauma of conventional surgery, reduce or eliminate hospital stays and shorten recuperation time. Trimedyne also owns a broad portfolio of U.S. Patents covering lasers and fiber-optic laser energy delivery devices.
Trimedyne leases a modern 28,000 sq. ft. office and manufacturing facility in Lake Forest, California.
Trimedyne's wholly-owned subsidiary, Mobile Surgical Technologies, Inc. ("MST") is a "fee per case" provider of lasers, laser operators, and fiber-optic laser energy delivery devices to hospitals, outpatient surgery centers and physicians in Texas and adjoining states, enabling them to avoid buying a laser and hiring and training a technician to operate it. MST is based in Dallas, Texas.
http://www.otcmarkets.com/stock/TMED/company-info
WoW!!! TMED nice move here today.........WEeeee!
TMED has 53 Employees, 18,500,000 shares total outstanding and trading with a market cap of only 2.8 million dollars.....unbelievable.
Boomer, read the PR, they apparently haven't even release the new fiber yet for their laser....and Boston Scientific hasn't even begun their audit....this quarter was probably all based on existing products....and maybe the promise of a better side-firing fiber to come.
"Trimedyne has developed a new side firing optical fiber for use with 80 and 100 watt Holmium Lasers for the treatment of benign prostate hyperplasia or BPH, commonly called an enlarged prostate. We are beginning a limited marketing release of the new fiber under our VaporMAX� trademark at a price significantly lower than the prices of side firing fibers marketed by certain of our competitors."
basically the way i see it..$2mil in sales and they broke out even....odds are they didnt start selling first of the quarter.
best to all,
boomer
45 pennies...whos your daddy..weeeeeeeeeeeee
Trimedyne Reports Its Financial Results for the Quarter Ended March 31, 2009
May 19, 2009 9:30:00 AM
Email Story Discuss on ZenoBank
View Additional ProfilesLAKE FOREST, CA -- (MARKET WIRE) -- 05/19/09 -- TRIMEDYNE, INC. (OTCBB: TMED) today reported its financial results for the quarter ended March 31, 2009.
Revenues for the current quarter were $1,632,000, an increase of 7.4% from revenues of $1,519,000 for the prior year's quarter. The $113,000 increase in revenues was due to higher revenues from sales of fiber optic devices and service and rentals, offset by a small decrease in sales of lasers. The Company had a net loss of $345,000 or $0.02 per share for the current quarter, compared to a loss of $292,000 or $0.02 per share for the prior year quarter.
Commenting on the financial results for the quarter, Marvin P. Loeb, Sc.D., Chairman of Trimedyne, said, "We are pleased with the 7.4% increase in revenues in the current quarter over the year ago quarter. However, we are not pleased that our net loss for the current quarter was $345,000, although it is down from the loss of $445,000 for the quarter ended December 31, 2008. Administrative and R&D expenses, testing and scaling up for production of our new side firing optical fiber were responsible for a substantial part of the increase in our costs during the quarter and are expected to continue into the next quarter."
We have developed a new side firing optical fiber for use with our 80 watt Holmium Lasers for the treatment of benign prostate hyperplasia or BPH, commonly called an enlarged prostate. We plan to commence a limited marketing release of the new fiber under our VaporMAX® trademark in June 2009, barring any unforeseen problems, with a wider release to follow.
BPH is a condition which affects an estimated 50% of men over age 55 and an increasing percentage of men at older ages. Worldwide, approximately 1.2 million men are presently treated each year in a surgical procedure using radiofrequency (RF) or laser energy to vaporize excess prostate tissue which is obstructing urine flow. The laser procedure is usually performed on an outpatient basis and minimizes the adverse effects of the RF surgical procedure, which include bleeding and infections and the risks of a blood transfusion, impotence and incontinence.
We have developed a similar side firing optical fiber which will be marketed in the U.S. and Japan by Boston Scientific Corporation and in other countries throughout the world by Lumenis, Ltd. of Yokneam, Israel, under Lumenis' DuraMAX trademark. The DuraMAX(TM) side firing fiber will be used with Lumenis' large, worldwide installed base of 80 and 100 watt Holmium Lasers for the treatment of BPH.
Marketing of the new DuraMAX(TM) Fiber by Boston Scientific and Lumenis will commence when Boston Scientific has completed its audit of our manufacturing process and quality system, which is expected to take 4 to 5 months. Boston Scientific has not yet advised us when this audit will be commenced.
Trimedyne manufactures proprietary Holmium lasers and patented fiber optic laser devices for a variety of minimally invasive surgical procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery. For product, press release, financial and other information, please visit Trimedyne's website, http://www.trimedyne.com.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act:
Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, including words like "expect," "may," "could" and others. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's Form 10-K-SB for the year ended September 30, 2008 and subsequently filed SEC reports. There is no assurance such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
TRIMEDYNE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
March 31, September 30,
2009 2008
ASSETS ----------- -----------
Current assets:
Cash and cash equivalents $ 1,781,000 $ 2,007,000
Trade accounts receivable, net of allowance
for doubtful accounts of $15,000 and
$12,000, respectively 813,000 954,000
Inventories 2,310,000 2,584,000
Other current assets 101,000 171,000
----------- -----------
Total current assets 5,005,000 5,716,000
Property and equipment, net 1,325,000 1,382,000
Other 69,000 83,000
Goodwill 544,000 544,000
----------- -----------
Total Assets $ 6,943,000 $ 7,725,000
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 375,000 $ 256,000
Accrued expenses 491,000 469,000
Deferred revenue 88,000 75,000
Accrued warranty 45,000 54,000
Current portion of note payable
and capital leases 163,000 237,000
----------- -----------
Total current liabilities 1,162,000 1,091,000
Note payable and capital leases,
net of current portion 324,000 400,000
Deferred rent 63,000 73,000
----------- -----------
Total liabilities 1,549,000 1,564,000
----------- -----------
Commitments and contingencies
Stockholders' equity:
Preferred stock - $0.01 par value, 1,000,000
shares authorized, none issued and outstanding -- --
Common stock - $0.01 par value; 30,000,000
shares authorized, 18,467,569 shares issued,
18,365,960 shares outstanding at
March 31, 2009 and September 30, 2008 186,000 186,000
Additional paid-in capital 51,448,000 51,425,000
Accumulated deficit (45,527,000) (44,737,000)
----------- -----------
6,107,000 6,874,000
Treasury stock, at cost (101,609 shares) (713,000) (713,000)
----------- -----------
Total stockholders' equity 5,394,000 6,161,000
----------- -----------
Total liabilities and stockholders' equity $ 6,943,000 $ 7,725,000
=========== ===========
TRIMEDYNE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
Three Months Ended Six Months Ended
March 31, March 31,
2009 2008 2009 2008
----------- ----------- ----------- -----------
Net revenues $ 1,632,000 $ 1,519,000 $ 3,242,000 $ 2,705,000
Cost of revenues 1,074,000 1,049,000 2,150,000 1,880,000
----------- ----------- ----------- -----------
Gross profit 558,000 470,000 1,092,000 825,000
Operating expenses:
Selling, general and
administrative 673,000 627,000 1,389,000 1,178,000
Research and
Development 318,000 322,000 614,000 575,000
----------- ----------- ----------- -----------
Total operating
expenses 991,000 949,000 2,003,000 1,753,000
----------- ----------- ----------- -----------
Loss from operations (433,000) (479,000) (911,000) (928,000)
Other income, net 87,000 187,000 125,000 259,000
----------- ----------- ----------- -----------
Loss before provision
for income taxes (346,000) (292,000) (786,000) (669,000)
Provision for income
taxes (1,000) -- 4,000 --
----------- ----------- ----------- -----------
Net loss $ (345,000) $ (292,000) $ (790,000) $ (669,000)
=========== =========== =========== ===========
Net loss per share:
Basic $ (0.02) $ (0.02) $ (0.04) $ (0.04)
=========== =========== =========== ===========
Diluted $ (0.02) $ (0.02) $ (0.04) $ (0.04)
=========== =========== =========== ===========
Weighted average number
of shares outstanding:
Basic 18,365,960 18,365,960 18,365,960 18,365,960
=========== =========== =========== ===========
Diluted 18,365,960 18,365,960 18,365,960 18,365,960
=========== =========== =========== ===========
CONTACT:
Jeffrey Rudner
(949) 951-3800, Ext. 285
jrudner@trimedyne.com
The 10k came out today. This part about their R&D is interesting.....I think this might finally be the year they get things going with BSX....let's hope!
THE UROLOGY MARKET
While our Lasers and Fibers are presently used in urology to fragment stones in
the kidney, ureter and bladder, we have developed two, new, proprietary, Side
Firing Laser Fibers for use with our Holmium Lasers and others to vaporize a
portion of the prostate to treat benign prostatic hyperplasia or "BPH", commonly
called an enlarged prostate.
One of these new Fibers is for use with our 80 watt Holmium Lasers and the other
is designed for use with 80 and 100 watt Holmium Lasers manufactured by Lumenis,
Ltd. of Yokneam, Isreal ("Lumenis"). Lumenis is one of the world's largest
manufacturers of medical lasers, has revenues exceeding 250 million per year and
has a large worldwide sales force.
The Side Firing Fibers we will be manufacturing for Lumenis will be marketed in
the U.S. and Japan under Lumenis' DuraMAX trademark by Boston Scientific
Corporation (NYSE:BSX) and by Lumenis' sales organization elsewhere throughout
the world, when BSX has completed its quality review and testing of the new
Fiber.
We will market the other Side Firing Fiber under our VaporMAX registered
trademark through a limited number of commission sales representatives in the
United States and by distributors in certain foreign countries.
Both of these Side Firing Fibers are designed to be used with our and Lumenis'
Holmium Lasers to vaporize a portion of the prostate gland to treat BPH. This
condition, in which excessive growth of the prostate causes difficulty in
urination, affects about 50% of men over age 55, and a higher percentage of men
at advanced ages. While drugs are used to treat BPH, when they are no longer
able to adequately treat this condition, removal of a portion of the prostate is
needed to open a channel to permit proper urine flow.
3
<PAGE>
About 200,000 men in the United States and an estimated one million men in
foreign countries are treated with a procedure each year to remove a portion of
the prostate to open a channel for urine flow. While radio frequency ("RF")
energy is also used to do this, laser vaporization or resection of the prostate
is becoming increasingly popular, as the laser procedure typically reduces
procedural bleeding and can be performed on an outpatient basis, whereas the RF
procedure usually entails a hospital stay, potentially significant bleeding, a
variety of adverse effects and a recuperation period of days to weeks.
As a result, when Boston Scientific and Lumenis begin marketing the new Fiber
for use with Lumenis' Holmium Lasers, we believe the treatment of BPH will
become the largest segment of our business.
The development of our new Side Firing Fiber for use with our 80 watt Holmium
Lasers and Lumenis' 80 and 100 watt Holmium Lasers has been delayed due to
obstacles imposed by the high peak powers and other characteristics of Holmium
Lasers, which make them excellent at vaporizing tissue, but also make them very
hard on the glass components of the Fibers. The new Side Firing Fibers we are
developing have been shown in our bench testing on animal tissue to vaporize
tissue faster and to be significantly more durable than the side firing fibers
presently being manufactured by Lumenis and marketed by Boston Scientific and
Lumenis.
Our new Side Firing Fibers have been cleared for sale by the FDA.
In mid December 2008, we delivered a number of DuraMax Side Firing Fibers to
Lumenis for bench testing on animal tissue, and we plan to deliver a number of
these devices to an independent laboratory for bench testing on animal tissue in
early 2009 and expect to receive the results of this testing in February 2009.
If the results of this testing confirms our results, we anticipate Boston
Scientific may commence its quality audit of Trimedyne in the first calendar
quarter of February or March of 2009, which could take four or more months to
complete.
The problems we faced in developing our new Side Firing Fibers are detailed in
the following description of the lasers and impact of their laser energy on the
Fibers.
Holmium Lasers emit very short pulses of laser energy. At 80 watts, our Holmium
Lasers emit pulses of energy with a duration or pulse width of about 700
microseconds, with a peak pulse power level of up to 9,000 watts. The laser
energy is transmitted from the laser through optical fibers to a tip designed to
emit the energy to the side at an angle of about 80 to 90 degrees.
Holmium Laser energy is highly absorbed by water. When tissue is struck by the
laser beam, water in the cells is almost instantly turned to steam, vaporizing
the tissue. As a result, Holmium Lasers vaporize tissue more efficiently than
most other lasers whose energy can be transmitted through conventional optical
fibers, such as KTP Lasers, whose energy is highly absorbed by hemoglobin in
blood, and Diode lasers, whose energy is moderately absorbed in both hemoglobin
and water.
KTP and Diode lasers, at very high power, can vaporize tissue, but can also
cause significant charring and thermal damage to the remaining tissue. Charred
tissue is removed from the body by macrophages and other mechanisms. Macrophages
emit harsh chemicals to dissolve char and other foreign matter, which causes the
patient to experience irritation at the vaporization site in the prostate for a
week or two.
Holmium lasers are able to vaporize tissue better than the above mentioned
lasers, with little or no charring or damage to the remaining tissue. However,
the very high power energy pulses of Holmium Lasers cause a steam bubble to
almost instantly be formed in a sort of explosion. These explosions of steam
typically occur at a rate of about 25 times per second with our Holmium Lasers
and at a rate of about 50 times per second with Lumenis' Holmium Lasers.
Also, when the steam bubble collapses between pulses, it causes an acoustic
shock, which can damage the glass components in the tip of the Fibers. And, the
water and steam heated by the laser energy can act as a catalyst for erosion of
the glass surface at the tip of the optical fiber, which can cause damage to the
Fiber's tip. Further, when the laser energy strikes the tissue, some of the
laser energy is reflected back into the tip of the optical fiber, which can
cause thermal damage that can affect the integrity of the Fiber's tip.
The combination of the above described steam explosions and the shock waves from
the collapse of the steam bubbles can fracture the glass enclosure of the
Fiber's tip and, with the degradation of the fiber tip by laser energy reflected
from the target tissue, reduce the Side Firing Fiber's useful lifetime.
As a result of the above described problems, it took us much longer than
anticipated to develop a durable, fast vaporizing, Side Firing Fiber for use
with our 80 watt Holmium Lasers. We expect, barring any unforeseen problems in
manufacturing, to begin marketing our VaporMAX(R) Side Firing Fiber for use with
our Holmium Lasers by late March 2009.
4
<PAGE>
We encountered a more difficult problem in developing the Side Firing Fiber for
use with Lumenis' 100 watt Holmium Lasers. At 100 watts of power, Lumenis'
Holmium Laser produces 25% more laser energy than our 80 watt Holmium Laser, and
its pulse width or duration is about 250 microseconds at this power level, with
a peak pulse power of up to 11,000 watts.
In addition to the optical fiber's tip having to emit 25% more energy per pulse,
since the pulse width is about one-half that of our 80 watt Holmium Laser, 25%
more power must be transmitted through the tip of the optical fiber at about
twice the number of pulses per second as with our 80 watt Holmium Laser. The
steam explosions at the surface of the tip of the Fiber are more powerful, the
acoustic shocks caused by the collapse of the steam bubble are more intense and
the amount of laser energy reflected from the tissue, which can damage the tip
of the Fiber, is more powerful.
As a result, developing a fast vaporizing, durable, Side Firing Fiber for use
with Lumenis' Holmium Lasers proved to be a formidable challenge. A very
significant portion of our management and R & D efforts over the past year were
devoted to the development of the new Side Firing Laser Fiber for use with
Lumenis' Holmium Lasers and our Holmium Lasers.
Before Boston Scientific and Lumenis will commence marketing our new Side Firing
Fiber, Boston Scientific must conduct a quality review of the new Fiber and our
manufacturing and quality systems, as well as conducting limited physician
feedback testing in humans to assure that it functions within customer
expectations. No clinical studies of the new Fiber are expected to be required,
as we have already received FDA clearance to market the new Fiber.
While we plan to commence marketing our new VaporMAX(R) Side Firing Fiber to the
owners of our Holmium Lasers by late March 2009, the quality review and testing
of our DuraMax Side Firing Fiber for use with Lumenis' 80 and 100 watt Holmium
Lasers by Boston Scientific and Lumenis is expected to take four months or
longer from the time we provide supplies of the new fiber to Boston Scientific
and Lumenis, which is presently anticipated to commence, barring unforeseen
delays, in late March 2009. As a result, we expect to commence shipments of the
new Fibers to Boston Scientific and Lumenis early in the third calendar quarter
of 2009, assuming Boston Scientific begins its quality audit in February or
March of 2009 and physician feedback testing of the new fiber in April 2009.
We settled our patent litigation against Lumenis, Ltd., and in September 2005
entered into an OEM Agreement, under which Lumenis agreed to purchase 100% of
its side firing (75 to 90 degree emitting) laser fibers and 75% of its angled
firing (60 to 75 degree emitting) laser fibers from us. Lumenis presently
markets its laser fibers through Boston Scientific in the U.S. and Japan and
markets them elsewhere throughout the world through its own sales organization.
Our Side Firing Laser Fiber will replace Lumenis' side firing laser fibers in
these markets when Boston Scientific completes its quality audit and testing of
the new Fiber and validates us as a supplier (vendor).
Side firing laser fibers to treat an enlarged prostate typically sell for about
$750 or more and, due to their exposure to blood, are labeled "single use" and
should be discarded after one use, although some illicit re-use of these fibers
occurs in the United States and Europe and is common throughout the rest of the
world, where government reimbursement, insurance plans and self-pay patients
cannot afford such expensive devices.
Our Lasers and plain, straight-ahead firing Fibers are used in urology to
fragment stones in the kidney, ureter or bladder in "lithotripsy" procedures.
However, our plain, straight-ahead firing Fibers are reusable and are used an
average of about 20-30 times. As a result, revenues from the sale of $500 plain
Fibers to fragment stones do not result in as significant sales as those
expected from single use, disposable Side Firing Fibers to treat enlarged
prostates.
hey zen...we're getting a little attention this week
we will be updating the ibox this week thank you for your patience
also... please, if you have any questions that we could add to a couple of surveys, please feel free to share them with me.
thanks to everyone in advance!
CEONEWS.Tv to feature TMED Chairman and CEO Marvin Loeb in an interview on Wednesday 9/10/08
*DD* The Trimedyne laser (1210-VHP) is the only Holmium:YAG laser that features the DoublePulse™ waveform, which allows the user to deliver more energy to hard substances with less risk of damaging surrounding soft tissues.
The Holmium:YAG laser works by generating both heat and an acoustic shock bubble. Acoustic shock is one mechanism responsible for stone migration in ureteroscopy, when utilizing a laser as the lithotrite. Our DoublePulse™ technology allows greater calculi fragmentation, while reducing the potential risk of ureteral wall injury encountered with single pulse mode. The net result is rapid stone ablation with less risk of damaging the ureteral wall or other soft tissue and reduced calculi migration. *DD*
ceo marvin loeb will be featured in an interview in september on http://www.ceonews.tv
zen, i have held tmed for a long time....i remember probably 8-10 yrs ago..i cant remmeber...it just shot up to $8.00 maybe even more... i bought under 2 at the time and sold around $8.
i hold a fistfull now...under water though...but confident.
thanks for the post
calmly waiting,
best to you,
boomer
We should have heard something about the progress on TMED's VaporMAX Fiber in April, so I called the company and had a brief conversation with Mr. Loeb. Mr. Loeb said they have released a limited number of VaporMAX fibers to selected doctors for testing and have had received positive feedback. He said the company has already produced several hundred of the fibers and will do a full commercial release in the next few weeks, once the company receives enough positive feedback to be assured the product is performing as designed.
I asked about the progress on the DuraMAX fiber for Lumenis/Boston Scientific and from what Mr. Loeb said, the company is still on the timeline last mentioned.
This has been a very frustrating stock to hold; but I think it will be worth while once we finally get the fiber developed for Boston Scientific to sell to the large base of installed Lumenis HoLAP lasers.
Yeah, this next quarter's earnings might create one last little dip in the chart. I'm not expecting much for the quarter because the company is still investing in developing the DuraMax fiber.
But at $0.66 with book value of $0.44, a P/S under 2, and $0.21/share cash....I wouldn't think there's much further to drop.
Ultimately, I think these prices will prove to be a great entry opportunity......if/when TMED announce they've successfully completed this new fiber for BPH procedures, and/or when Lumenis and Boston Scientific announces they're begining to market it......I imagine TMED could turn right back around and head back towards it's highs.
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Company Background:
Trimedyne, Inc. (the "Company", "we", "our" or "us") is engaged in the
development, manufacturing and marketing of 80 watt and 20 watt Holmium "cold"
pulsed lasers ("Lasers") and a variety of disposable and reusable, fiber optic
laser energy delivery devices ("Fibers", "Needles" and "Tips") for use in a
broad array of medical applications.
Our Lasers, Fibers, Needles and Tips have been cleared for sale by the U.S. Food
and Drug Administration ("FDA") for use in orthopedics, urology, ear, nose and
throat ("ENT") surgery, gynecology, gastrointestinal surgery, general surgery
and other medical specialties. Most of the medical procedures in which our
Lasers, Fibers, Needles and Tips are used are being reimbursed by Medicare and
most insurance companies and health plans.
Our 100% owned subsidiary, Mobile Surgical Technologies, Inc. ("MST"), is
engaged in the rental of lasers, along with the services of a trained operator
and, if requested, the provision of applicable Fibers, Needles or Tips, on a
"fee per case" basis to hospitals, surgery centers, group practices and
individual physicians in Texas and Oklahoma. MST's revenues and those of our
field service department represented only about 28% of our revenues in the
fiscal year ended September 30, 2006.
The principal market for our Lasers and Needles is presently in orthopedics to
treat herniated (bulging) and ruptured lumbar, thoracic and cervical discs in
the spine, two of the four major causes of lower back, neck and leg pain. Our
Lasers and Tips are also used in orthopedics to treat damage in joints, such as
the knee, shoulder, elbow, ankle and wrist, in outpatient, arthroscopic
procedures.
While the second most important market for our Lasers and Fibers is presently in
urology to fragment stones in the kidney, ureter and bladder, we are developing
a new, proprietary, Side Firing Laser Fiber for use with our 80 watt Lasers and
Holmium lasers manufactured by others to vaporize a portion of the prostate
gland to treat Benign Prostatic Hyperplasia or "BPH", commonly referred to as an
enlarged prostate. This condition, in which excessive growth of the prostate
causes difficulty in urination, affects about 50% of men over age 55, and a
higher percentage of men at advanced ages.
This new Fiber will be marketed by Boston Scientific Corporation (NYSE:BSX) in
the U.S. and Japan and by Lumenis, Ltd. (LUME.PK) elsewhere throughout the
world. Boston Scientific is a major factor in the urology field with a large
sales organization in the U.S. and Japan. Lumenis, which is based in Israel, is
the world's largest manufacturer of medical lasers, employs a worldwide sales
organization and has sales exceeding $200 million. As a result of Boston
Scientific and Lumenis marketing our new Side Firing Fiber, we believe urology
will become our principal market.
During October through December 2006, we sold 2,650,000 Shares for an aggregate
of $3,312,500. After deducting $300,000 of estimated costs of the offering, the
estimated net proceeds to us were $3,012,500. The principal use of these funds
will be to support the increased level of business expected to arise from sales
of our new Fiber by Boston Scientific and Lumenis.
Recent Interviews:
June 19, 2007 Interview on MN1:
http://feeds.mn1.com/tmed_1.htm
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