Vista Medical (NASDAQ:VMTIC)
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Vista Medical Stock Will Continue to Be Listed on Nasdaq SmallCap
Market Via an Exception
CARLSBAD, Calif., May 11 /PRNewswire-FirstCall/ -- Vista Medical Technologies,
Inc., , today announced that it has received the determination of the Nasdaq
Listing Qualifications Panel that its common stock will continue to be listed
on the Nasdaq SmallCap Market via an exception to the Shareholders' Equity
Requirement. The Company had requested this exception at a hearing of the
Panel on April 1, 2004. While Vista Medical has failed to meet the
Shareholders' Equity requirement since September 30, 2003, the Panel has
granted the Company a temporary exception from this standard, subject to
meeting certain conditions. The exception will expire on June 1, 2004. In the
event that the Company is deemed to have met the terms of the exception, it
shall continue to be listed on the Nasdaq SmallCap Market. The Company
believes it can meet these conditions; however, there can be no assurance that
it will do so. If, at some future date, the Company's securities should cease
to be listed on The Nasdaq SmallCap Market, they may continue to be listed in
the OTC Bulletin Board. For the duration of this exception, the Company's
Nasdaq symbol will be VMTIC.
Vista Medical Technologies, Inc.
Our business is focused exclusively on the disease state management of morbid
obesity, through our wholly-owned subsidiary, VOW Solutions, Inc. We provide
program management, operational consulting and clinical training services to
physicians and hospitals involved in the medical and surgical treatment of
morbidly obese patients. We also provide specialized vitamins to patients who
have undergone obesity surgery. Our corporate website is
http://www.vistamt.com/; our obesity disease state management website is
http://www.vowsolutionsinc.com/; information on our nutritional supplements for
post-surgical gastric bypass patients may be found on
http://www.vistavitamins.com/. Vista Medical Technologies is traded on the
Nasdaq SmallCap Market under the stock symbol VMTIC.
Forward Looking Statements
This news release may contain forward-looking statements concerning the
business and products of Vista Medical. Actual results may differ materially
depending on a number of risk factors, including, but not limited to the
following: the Company's efforts to attain the continued listing requirement
for Shareholders' Equity on the Nasdaq stock exchange; the success of the
Company's appeal to the Nasdaq Listing Qualifications Panel; the Company's
ability to raise additional capital to fund our operations and execute our
business plan; the Company's ability to penetrate the market for obesity
surgery management services; customer acceptance of our products and services.
Other risks inherent in our business are described in our Securities and
Exchange Commission filings, including our Annual Report on Form 10-K for the
year ended December 31, 2003 and our most recent quarterly report on form 10-Q.
We undertake no obligation to revise or update any forward-looking statements
to reflect events or circumstances after the date of this release.
For further information, please contact John R. Lyon, President of Vista
Medical Technologies, +1-760-603-9120, ; or investor and media, Tony Rossi of
Financial Relations Board, +1-310-407-6563, , for Vista Medical Technologies.
DATASOURCE: Vista Medical Technologies
CONTACT: John R. Lyon, President of Vista Medical Technologies,
+1-760-603-9120, ; or investor and media, Tony Rossi of
Financial Relations Board, +1-310-407-6563,
, for Vista Medical Technologies
Web site: http://www.vistavitamins.com/
Web site: http://www.vowsolutionsinc.com/
Web site: http://www.vistamt.com/
Company News On-Call: http://www.prnewswire.com/comp/127279.html