e.Digital Corporation (fka EDIG)

[cksla]

GERN- no editorial req'd; just the facts as reported:

EDIG Reports FY 2002 Results, Going Concern

Ridgeland, MS, JUL 01, 2002 (EventX/Knobias.com via COMTEX) -- eDigital Corporation (OTCBB: EDIG) filed its 10-K on Friday, for the fiscal year ended 3/31/2002.

EDIG reported Revenues of $2,417,034 for FY 2002 vs. Revenues of $1,828,012 in FY 2001.

EDIG posted a Net Loss of $(5,793,066) for FY 2002 vs. a Net Loss of $(3,646,378) in FY 2001.

The auditors' report on the consolidated financial statements raises substantial doubt about the Company's ability to continue as a going concern, due to substantial operating losses and the need for additional sources of financing to fund operations through 3/31/2003. As of 3/31/2002, the Company had a Working Capital Deficit of $(2,543,657) and an Accumulated Deficit of $(58,366,990).

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