BOSTON, Nov. 19, 2010 /PRNewswire-FirstCall/ -- Solos Endoscopy, Inc. (Pink Sheets: SNDY) is pleased to announce that the Company’s management has approved its 2011 recapitalization plan in order to position itself for growth over the next twelve months. The recapitalization plan is designed to increase financial flexibility for Solos and its shareholders.
The recapitalization plan allows Solos greater flexibility toutilize the assets of the Companyin the future for corporate purposes; including raising capital, acquisitions or employee compensation, with limited dilution of existing stockholder voting rights.
“We are very pleased that the recapitalization allows us to pursue our existing strategy more aggressively,” stated Bob Segersten, President of Solos Endoscopy, Inc.
Throughout the remainder of 2010, the Company will continue its new product development for the MammoView® product line. In addition, Solos plans to achieve 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.
