LAKE OSWEGO, Ore., April 7 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (the “Company”), in compliance with American Stock Exchange Company Guide Section 610(b), today announced that the Company’s independent registered public accounting firm included a going concern explanatory paragraph in its report on Calypte’s consolidated financial statements as of and for the fiscal year ended December 31, 2005. The qualification was included as a result of the Company’s recurring net losses and negative cash flows from operations. For information regarding management’s plans in regard to these matters, please see the Calypte’s Annual Report on Form 10-KSB filed with the Securities and Exchange Commission on March 31, 2006.
About Calypte Biomedical:
Calypte Biomedical Corporation is a U.S.-based healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases such as the HIV-1 BED Incidence EIA and new diagnostic test products for the rapid detection of HIV and other sexually transmitted diseases, several of which do not require blood samples. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management’s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company’s ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-KSB for the year ended December 31, 2005 and its subsequent filings with the SEC.
Company Contact: Theodore R Gwin, Chief Financial Officer (971) 204-0282 email: tgwin@calypte.com Investor Relations Contact: Tim Clemensen, Rubenstein Investor Relations Phone: (212) 843-9337 email: tclemensen@rubensteinir.com
Calypte Biomedical Corporation
CONTACT: Theodore R Gwin, Chief Financial Officer of Calypte,+1-971-204-0282, tgwin@calypte.com; or Investor Relations, Tim Clemensen ofRubenstein Investor Relations, +1-212-843-9337,tclemensen@rubensteinir.com, for Calypte
Web site: http://www.calypte.com/
