BOSTON, Nov. 22, 2011 /PRNewswire/ -- Solos Endoscopy,
Inc.'s (OTCPK: SNDY) is pleased to announce that it finished the
3rd Quarter with a Net Profit of $73,895. Solos Endoscopy has consummated
agreements which resulted in the Forgiveness of debt of
$299,082 for the Three Months period
ending September 30, 2011. The
signed settlement agreement and new consulting agreement result in
a reduction of ongoing expenses by approximately $40,000 per quarter.
Solos Endoscopy posted its financial statements for period ended
September 30, 2011. While the
Company saw a modest decrease in sales over the three month period,
the Net Profit is a result of Management's cost cutting and debt
reduction efforts. Management is extremely pleased with the
increase in demand for its new MammoView® instrument line.
The MammoView® instrument line, designed exclusively for breast
endoscopy, has become crucial to early breast cancer screening as a
method to significantly reduce breast cancer death rates. The Solos
MammoView® Breast Endoscopy System is designed to distinguish and
inspect suspicious pre-cancerous lesions that are undetectable by
other methods as well as complement existing diagnosis and
treatment options with direct endoscopic observation.
"Solos management has worked extremely hard to position the
Company for future success. This is represented by our
tireless efforts to work with our creditors, while remaining
focused on future product development. We have allocated
significant resources to the development of the MammoView®
instrument line. The fact that we have taken this tremendous
product from concept phase to sales in dozens of hospitals across
the Country is truly amazing. I'd like to thank the
shareholders for all their continued support," stated Bob Segersten, President of Solos Endoscopy,
Inc.
Please visit http://www.otcmarkets.com/stock/SNDY/financials for
more information.
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.
Contact: Amanda Segersten,
rsegersten@solosendoscopy.com
SOURCE Solos Endoscopy, Inc.