AMDL Reports Independent Auditors' Going Concern Qualification; Completes Offering Pending AMEX Approval
April 25 2007 - 10:20AM
PR Newswire (US)
TUSTIN, Calif., April 25 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), an international biopharma company with operations in
China through its wholly owned subsidiary, Jade Pharmaceutical
Inc., today announced that its consolidated financial statements
for the year ended December 31, 2006, which were included in its
Annual Report on Form 10-KSB filed with the Securities and Exchange
Commission on April 16, 2007, contained a going concern
qualification from its independent registered public accounting
firm KMJ|Corbin & Company LLP. This announcement is in
compliance with the AMEX Company Guide Rule 610(b) requiring a
public announcement of the receipt of an audit opinion that
contains a going concern qualification. This announcement does not
reflect any change or amendment to the consolidated financial
statements as filed. Further information regarding the going
concern qualification is contained in AMDL's Annual Report on Form
10-KSB for the year ended December 31, 2006. AMDL also announced it
has completed an offering pending AMEX approval, the gross proceeds
of which are approximately $3.8 million. About AMDL AMDL, Inc.,
headquartered in Tustin, California, with operations in Shenzhen,
Jaingxi and Jilin China through its wholly owned subsidiary Jade
Pharmaceutical Inc., is an international biopharma company. AMDL
together with Jade engages in the development, manufacture and
marketing of proprietary pharmaceutical and testing products. More
information about AMDL and its products can be obtained at
http://www.amdl.com/. Forward-Looking Statements Statements in this
press release may constitute forward-looking statements and are
subject to numerous risks and uncertainties, including the failure
to complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack of market
demand for any new or enhanced products the Company may develop,
any actions by the Company's partners that may be adverse to the
Company, the success of competitive products, other economic
factors affecting the Company and its markets, and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release. Contact: AMDL, Inc. Gary L. Dreher President & CEO
(714) 505-4460 DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher,
President & CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdl.com/
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