WALL STREET TRANSCRIPT INTERVIEWS MARVIN P
IRVINE, CA, United States, via ETELIGIS INC., 02/23/2015 – – Trimedyne, Inc. (OTC Pink: TMED) (PINKSHEET: TMED), today reported its financial results for the first quarter of its fiscal year.
Revenues for the quarter ended December 31, 2014 were $1,352,000, a 3.4% decrease from revenues of $1,399,000 for the prior year’s quarter. The Company had a net loss of $169,000 or $0.01 per share for the current quarter, compared to a loss of $259,000 or $0.01 per share for the same quarter of the prior year.
Cash on hand decreased by $541,000 to $751,000 during the quarter ended December 31, 2014.
We plan to supply our Holmium Lasers and patented Side Firing Fibers to one or more separate companies being organized in which we will own a 30% equity interest at nominal cost. Since we cannot afford to fund large, randomized, controlled clinical trials to prove the safety and efficacy of our new Lasers and Side Firing Fibers in the treatment of multiple medical conditions in various fields of medicine, helping these separate companies may become an outlet for our Lasers and Side Firing Fibers. However, the success of their efforts to raise capital cannot be assured and, if they were able to raise capital, there is no assurance that the clinical trials of any of these separate companies will be successful.
The first of these companies, Gastromedix, Inc., has been incorporated and is attempting to raise at least $10 million of capital to finance three or more, 25 patient “pilot” clinical trials and, if the “pilot” clinical trials are successful, which cannot be assured, one to three, 300 patient, randomized, controlled clinical trials of our Lasers and patented Side Firing Fibers in the treatment of Type II Diabetes, Obesity and GERD, often called “heartburn”, on which two U.S. Patent Applications are pending, in the gastroenterology field of medicine. These conditions affect millions of people in the U.S. and elsewhere and, if these larger clinical trials are successful, and this company receives FDA approval or clearance to market these products in the U.S., the CE Mark to market these products in the European Union and Medicare, other third-party payers in the U.S. and foreign governmental healthcare reimbursement, none of which can be assured, it could generate substantial sales of our Lasers and Side Firing Fibers.
Trimedyne manufactures proprietary Holmium lasers and fiber optic laser devices for vaporizing spinal disc tissue to treat herniated or ruptured discs, denervating spinal joints, fragmenting urinary stones, vaporizing prostate tissue to treat BPH and in a variety of other, minimally invasive procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery. For product, press release, financial, SEC Reports 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 current Form 10-K Report 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.
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SOURCE: TRIMEDYNE, INC.