BOSTON, Aug. 26 /PRNewswire-FirstCall/ -- Solos Endoscopy, Inc. (Pink Sheets: SNDY) is pleased to announce that the Company generated revenues during the six months ended June 30, 2010 in the amount of $217,922 versus $216,462 for the six months ended June 30, 2009. This was an increase of $1,460 for the six months during 2010 as compared to 2009. As of June 30, 2010, Solos reported $2,308,188 in total assets.
The Company also reported that Cost of Goods Sold increased by $19,814 from $72,623 in 2009 to $92,437 in 2010. In the second quarter of 2010 the Company purchased a substantial amount of new inventory due to a favorable monetary exchange rate, which accounted for the increase in Cost of Goods Sold. The Company expects to see an increase in the gross profit percentage for the remainder of 2010.
"We are pleased with the results from the first six months of 2010 as they are within our earnings parameters," stated Bob Segersten, President of Solos Endoscopy, Inc. "Much work remains to be done, but we have a strong core business with talented and committed people and I am confident that we can meet all of the challenges ahead."
The Company has posted its financial results for the first six months ended June 30, 2010 on Pink Sheets OTC Markets website (http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=sndy).
Throughout the remainder of 2010, the Company will continue its new product development for the MammoView® product line as well as market expansion through its efforts to meet the requirements of the ISO 13485 standard and ultimately obtain the CE Mark and the permission to sell medical devices in the European Union and Canada.
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a HealthCare instrument company whose mission is to develop and market high quality and innovative instruments for the screening, diagnosis, treatment and management of medical conditions. Additional information on its FDA approved products is available on the Company's website at: www.solosendoscopy.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE Solos Endoscopy, Inc.
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The Company also reported that Cost of Goods Sold increased by $19,814 from $72,623 in 2009 to $92,437 in 2010. In the second quarter of 2010 the Company purchased a substantial amount of new inventory due to a favorable monetary exchange rate, which accounted for the increase in Cost of Goods Sold. The Company expects to see an increase in the gross profit percentage for the remainder of 2010.
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"We are pleased with the results from the first six months of 2010 as they are within our earnings parameters," stated Bob Segersten, President of Solos Endoscopy, Inc. "Much work remains to be done, but we have a strong core business with talented and committed people and I am confident that we can meet all of the challenges ahead."
The Company has posted its financial results for the first six months ended June 30, 2010 on Pink Sheets OTC Markets website (http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=sndy).
Throughout the remainder of 2010, the Company will continue its new product development for the MammoView® product line as well as market expansion through its efforts to meet the requirements of the ISO 13485 standard and ultimately obtain the CE Mark and the permission to sell medical devices in the European Union and Canada.
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a HealthCare instrument company whose mission is to develop and market high quality and innovative instruments for the screening, diagnosis, treatment and management of medical conditions. Additional information on its FDA approved products is available on the Company's website at: www.solosendoscopy.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE Solos Endoscopy, Inc.
