NEW YORK, April 19 /PRNewswire-FirstCall/ -- As required by a recently adopted rule of the American Stock Exchange, Ramp Corporation today announced that the Company’s Annual Report on Form 10-K, filed on April 14, 2004 with the Securities and Exchange Commission, included an explanatory paragraph by its independent auditors in their audit report referring to the Company’s recurring operating losses and a substantial doubt about the Company’s ability to continue as a going concern. This audit report, which was dated April 8, 2004, related to the Company’s financial statements for the fiscal year ended December 31, 2003.
“Our HealthRamp CarePoint(TM) technology suite has been in the market for a little more than 6 months, the result of the restructuring we have undergone over the past 18 months. With the pending release of our CareGiver(TM) technology suite, targeted at long term care facilities, we will have a strong pair of product offerings for the first time in our history. Our ability to fund the Company’s operations, despite our recurring operating losses, is a confirmation of the potential we firmly believe exists in the healthcare connectivity marketplace. 2004 will be a year of significant challenges and opportunities for Ramp, and we are very excited and cautiously optimistic about the prospects that lay ahead of us,” stated Darryl Cohen, Ramp Chairman & CEO.
Ramp Corporation, through its wholly owned HealthRamp, Inc. subsidiary, markets the CarePoint and CareGiver technology suites. CarePoint enables electronic prescribing, lab orders and results, Internet-based communication, data integration, and transaction processing over a handheld device or browser, at the point-of-care. CareGiver lets long term care facility staff to easily place orders for drugs, treatments and supplies from a wireless handheld PDA or desktop Internet web browser. HealthRamp’s products enable communication of high value-added healthcare information among physician offices, pharmacies, hospitals, pharmacy benefit managers, health management organizations, pharmaceutical companies and health insurance companies. Ramp’s Frontline division provides a state of the art telecommunications center that enables 24/7 communications between a medical practice and its patients. Additional information about Ramp, and its products and services, can be found at http://www.ramp.com/.
Safe Harbor Statement: To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as “expects,” “plans,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” “cautions,” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance the development of its Internet services and related software, the effectiveness, profitability and the marketability of those services, the ability of the Company to protect its proprietary information and to retain and expand its user base, the establishment of an efficient corporate operating structure as the Company grows and, other risks detailed from time-to-time in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements.
Ramp Corporation
CONTACT: Investors, Mitchell Cohen, +1-212-440-1551, or Media, RobinSchoen, +1-215-504-2122, both for Ramp Corporation
Web site: http://www.ramp.com/
