For Immediate Release For Further Information Contact:
July 12, 2014 Thomas Toland
949-698-8485 mobile
SURGLINE UPDATE on business and filing status
WEST PALM BEACH, Fla., July 12, 2014 SurgLine International, Inc. (SGLN.PK)
SurgLine International, Inc. and its wholly owned subsidiary SurgLine Inc. is waiting for the manufacturer of its Sublingual Immunotherapy product to receive its final approval of labeling requirements from the FDA and anticipates that the approval will be forthcoming within approximately the next 14 days.
The Company will launch its sales efforts immediately following the approval process to its target market and will commence recruiting and training a sales force to penetrate the primary care marketplace.
These new revenues are anticipated to allow the company to generate new cash flow opportunities while pursuing its cost savings model for savings to surgery centers and hospitals. The Company estimates that the SLIT allergy market in the U.S. to be in excess of 1 billion dollars per year.
The Company is also in the process of interviewing potential candidates to act as its in-house CFO in anticipation of its impending launch of the Allergy program and other impending program opportunities. The candidate will have prior public company reporting experience.
Once the Company successfully recruits its new CFO candidate, it plans to use the proceeds from the Physician Allergy program to become current with its past due filings and reporting at the soonest opportunity.
The Company will continue to provide updates on material developments on both its Allergy program as well as its reporting status over the next 45 to 60 days.
Forward Looking Statements
This update release may contain forward-looking statements, including information about management’s view of future expectations, plans and prospects for SurgLine International, Inc. (the "Company"). In particular, when used in the preceding discussion, the words "predicts", "believes", "expects", "intends", "seeks", "estimates", "plans", "anticipates", and similar conditional expressions or future or conditional verbs such as "will", "may", "might", "should" "would" and "could" are intended to identify forward-looking statements. In addition, our representatives may from time to time make oral forward-looking statements. Any such statements, other than those of historical fact, about an action, event or development are forward-looking statements. Such statements are based on the current expectations and certain assumptions of the Company’s management. Such statements are, therefore, subject to a variety of known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, which could cause the actual results, performance, its subsidiaries and concepts to be materially different than those that may be expressed or implied in such statements or anticipated on the basis of historical trends. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company’s actual results, performance or achievements may vary materially from those described in the relevant forward-looking statements as bine expected, anticipated, intended, planned, believed, sought, estimated or projected. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included herein are made only as of the date hereof. The company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the company undertakes no obligation to update or revise these forward-looking statements to reflect the impact of circumstances or events that arise after the date of the forward-looking statement was made, except as required by law, and also takes no obligation to update or correct information prepared by third parties that re not paid for by the Company. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under item, "Risk Factors" of the Company’s annual Report on Form 10-K for the year ended July 31, 2014 and in any of the Company’s other subsequent Securities and Exchange Commission filings.
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