LMS update on AMEX listing status
March 28 2007 - 3:00PM
PR Newswire (US)
MONTREAL, March 28 /PRNewswire-FirstCall/ -- LMS Medical Systems
Inc. (AMEX:LMZ; TSX:LMZ) today announced that by way of a letter
dated March 22, 2007, the American Stock Exchange advised LMS of
having completed their review of LMS' plan to regain compliance
with its ongoing listing standards and that the LMS listing was
being continued pursuant to an extension. As previously disclosed,
the Company is not in compliance with Section 1003 (a)(ii) of the
Company Guide with shareholders equity of less than $4,000,000 and
losses from continuing operations and/or net losses in three out of
its four most recent fiscal years and Section 1003(a)(iii) of the
Company Guide with shareholders equity of less than $6,000,000 and
losses from continuing operations and/or net losses in its five
most recent fiscal years. During the extension period the company
must provide certain periodic reports and information to AMEX. If
the Company does not show progress consistent with the Plan, the
Exchange Staff will review the circumstances and may immediately
commence delisting proceedings. By July 8, 2008, the Company must
be in compliance with all continued listing standards. Failure to
regain compliance within the timeframes outlined above will likely
result in the Exchange Staff initiating delisting proceedings
pursuant to Section 1009 of the Company Guide. ABOUT LMS LMS is a
leader in the application of advanced mathematical modeling and
neural networks for medical use. The LMS CALM(TM) Decision Support
Suite provides physicians, nursing staff, risk managers and
hospital administrators with clinical information systems and risk
management tools designed to improve outcomes and patient care for
mothers and their infants during labor and delivery. Except for
historical information contained herein, the matters discussed in
this news release are forward-looking statements. Because these
forward-looking statements involve risks and uncertainties, there
are important factors that could cause actual results to differ
materially from those expressed implied by the forward-looking
statements including, but without limitation, economic conditions
in general and in the healthcare market, the demand for and market
for our products in domestic and international markets, our current
dependence on the CALM product suite, the challenges associated
with developing new products and obtaining regulatory approvals if
necessary, research and development activities, the uncertainty of
acceptance of our products by the medical community, the lengthy
sales cycle for our products, third party reimbursement,
competition in our markets, including the potential introduction of
competitive products by others, our dependence on our distributors,
physician training, enforceability and the costs of enforcement of
our patents, potential infringements of our patents and the other
factors set forth from time to time in the Company's filings with
the United States Securities and Exchange Commission and with the
Canadian Securities Commissions. The Company has no intention of or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: LMS MEDICAL SYSTEMS INC. CONTACT: LMS Medical Systems
please contact: Yves Grou, Chief Financial Officer, LMS Medical
Systems Inc., (514) 488-3461, Ext. 238, Fax: (514) 488-1880, ,
http://www.lmsmedical.com/; David Gordon, Grant Howard, The Howard
Group Inc., Toll Free: 1-888-221-0915, ,
http://www.howardgroupinc.com/
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