Date: Thu, 18 Dec 1997 20:08:10 GMT Server: Apache/1.1.3 Content-type: text/html Content-length: 22202 Last-modified: Tue, 16 Dec 1997 19:47:47 GMT
Research & Development
Contractual Arrangements or Licenser Inquiries:
Lee Rickles, COO
1840 West Avenue, Miami Beach, FL 33139 USA
Tel. 305-534-3694 Fax 305 534-9368
E-Mail nims@ctech.net
1997
1996
Total Revenue
$ 50,038
$ 283,901
Net (loss) Income
(168,320)
(30,183)
Income (loss) per share
(0.014)
(0.002)
Weighted average number
of shares outstanding
12,439,729
12,439,729
MIAMI BEACH, FLORIDA - DECEMBER 15, 1997 - Non-Invasive Monitoring Systems, Inc. (Nims) (OTC:NIMU) announced results for the first three months ended October 31, 1997.
Total revenue for the first quarter ended October 31, 1997, was approximately $50,038 as compared to $238, 901 for the first quarter of fiscal year 1997. For the three months ended October 31, 1997, the Company reported a net loss of approximately $168,320 as compared to a net loss of approximately $30,183 for the first quarter of fiscal 1997. The decrease in revenue for the three month period was the result of decreased sales to SensorMedics Corporation, the principal distributor of the Comapny's products.
Non-Invasive Monitoring Systems, Inc. is in the business of developing hardware and software devices based upon sensors placed externally on the body surface. These devices provide diagnostic information regarding cardiorespiratory and sleep disorders in infants, children and adults; alarms are sounded for adverse cardiac and respiratory events in critically ill patients. In addition, Nims also is developing non-invasive devices for treatment of cardiorespiratory disorders. The Company's proudcts are available for license to others for marketing and manufacture.
In line with its new direction for developing non-invasive devices for treatment of cardiorespiratory disorders, the Company devised and is testing a device that provides non-inavsive motion ventilation, i.e., a powered, moving platform under computer control produces passive movements of the body that in turn provides ventilation. This method, for which a patent has been applied, does not require connection to the airway for imposed, cycling, positive pressures as is the case for conventional mechanical ventilators. Experiments indicate that this new method provides adequate ventilation as measured by arterial blood gases when the respiratory muscles are paralyzed in the presence of both normal and markedly diseased lungs. Furthermore, the method also supports the circulation during cardiac arrest.
This press release contains, in addition to historical information forward-looking statements regarding Non-Invasive Monitoring Systems, Inc. (Nims) which represent Nims expectation or beliefs including, but not limited to, statements concerning industry performance, the Company's operations, performance, financial condition, business strategies, margins, and sales information. For this purpose, any statements contained in this Release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, certain of which are beyond the Company's control, and actual results could differ materially depending on a variety of important factors, including those described in this Release and the Company's filings with the Securities and Exchange Commission.
NON-INVASIVE MONITORING SYSTEMS REPORTS PROFITABLE YEAR END RESULTS AS RESEARCH AND DEVELOPMENT CORP.
MIAMI BEACH, FLORIDA - OCTOBER 28, 1997 - Non-Invasive Monitoring Systems, Inc. (Nims) (OTC:NIMU) announced results for the year ended July 31, 1997.
For the year ended July 31, 1997, Nims reported income of approximately $163,000 compared to a net loss of approximately $394,000 for the year ended July 31, 1996. For fiscal 1997 total revenue was approximately $1,352,000 as compared to approximately $1,723,000 in fiscal 1996. The revenue for the year ended July 31, 1997 was primarily generated from a Joint Manufacturing and Marketing Agreement between Nims and SensorMedics Corporation (SMC) which was entered into in December of 1996. This agreement between Nims and SMC granted SMC exclusive rights to manufacture and marketing Nims' disposable Respiband transducers along with non-exclusive rights to manufacture and market certain other Nims products. Accordingly the SMC Agreement has allowed Nims to focus its efforts on the Company's strength. In this regard during fiscal 1997, pursuant to the agreement with SMC Nims developed a new diagnostic sleep recorder to be manufactured and marketed exclusively by SMC. Nims has also undertaken additional product development efforts.
Non-Invasive Monitoring Systems, Inc. develops hardware devices based upon sensors placed externally on the body surface which provide diagnostic information through proprietary software for cardiorespiratory and sleep disorders in infants, children and adults. These devices can also sound alarms for adverse cardiac and respiratory events in critically ill patients. In addition, Nims is developing non-invasive devices for treatment of cardiorespiratory disorders. The Company licenses its products to third parties for marketing and manufacture.
Apart from SMC activities, Nims is developing non-invasive devices for treatment of cardiorespiratory disorders. The Company has devised and is testing a device that provides non-invasive motion ventilation, i.e., a powered, moving platform under computer control produces passive movements of the body that give rise to ventilation. This method, for which a patent has been applied, does not require connection to the airway for imposed positive pressures as is the case for conventional mechanical ventilators. Initial experiments indicate that this new method provides adequate ventilation as measured by arterial blood gases when the respiratory muscles are paralyzed.
This press release contains, in addition to historical information forward-looking statements regarding Non-Invasive Monitoring Systems, Inc., (Nims) which represent Nims expectations or beliefs including, but not limited to, statements concerning industry performance, the Company's operations, performance, financial condition, business strategies, margins, and sales information. For this purpose, any statements contained in this Release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, certain of which are beyond the Company's control, and actual results could differ materially depending on a variety of important factors, including those described in this Release and the Company's filings with the Securities and Exchange Commission.