Physiometrix (NASDAQ:PHYX)
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Physiometrix, Inc. Discloses Filing of Form 10-K
NO. BILLERICA, Mass., April 1 /PRNewswire-FirstCall/ -- Physiometrix, Inc.
(NASDAQ:PHYX) announced today that its 2004 financial statements included in
the company's Form 10-K, filed on March 31, 2005 with the Securities and
Exchange Commission, contained a going concern qualification from its auditors.
This announcement is made to comply with NASDAQ rule 4350(b) requiring
disclosure of such audit opinion. The uncertainty described in the Form 10-K
was based upon the company's cash balance as of December 31,2004, which was not
sufficient to fund projected operations over the next year and does not take
into account any potential future cash inflows. For discussion of the
company's plans regarding this situation, please refer to the Form 10-K dated
March 31, 2005.
Physiometrix Inc. designs, manufactures and markets noninvasive medical
products -- based on novel gel materials, sophisticated signal-processing
electronics technologies, and proprietary software -- for use in anesthesia-
monitoring during surgical procedures. For more information, please visit the
Company's Web site at http://www.physiometrix.com/.
Statements in this press release regarding Physiometrix's growth and future
business results of the Company are "forward-looking" statements as defined in
the Private Securities Litigation Reform Act of 1995. Such statements are
based upon management's current expectations and are subject to a number of
factors and uncertainties. Information contained in these forward-looking
statements is inherently uncertain, and actual performance and results may
differ materially due to many important factors. Such factors that could cause
actual results to differ materially from any forward-looking statements made by
the Company include, among others, revenue estimates, dependence on existing
and future products, dependence upon third-party distribution and sales
arrangements, the existence of alternative technologies and the potential
emergence of new methods for consciousness monitoring, uncertainty of market
acceptance, intense competition, partnership agreements, and government
regulations, especially regulatory approvals. These and other relevant risks
are described in the Company's Form 10-K dated March 31, 2005 filed with the
SEC. The Company disclaims any obligation to update information contained in
any forward-looking statement to reflect events or circumstances occurring
after the date of this press release.
CONTACT:
Daniel W. Muehl, CFO
Physiometrix Inc.
978-670-2422
DATASOURCE: Physiometrix, Inc.
CONTACT: Daniel W. Muehl, CFO of Physiometrix Inc., +1-978-670-2422
Web site: http://physiometrix.com/