Biomerica Announces Sale of Minority Interest in Lancer Orthodontics, Inc.
Market Wire, May, 2008
On May 27, 2008, Biomerica sold its investment in Lancer Orthodontics, Inc., in a private transaction. Net proceeds from the sale were $1,083,444. The investment was carried on the Biomerica balance sheet at date of sale at a value of $464,823 and therefore results in a realized gain of $618,621.
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. ( http://www.biomerica.com ) is a global medical technology company, based in Newport Beach, CA. The Company's diagnostics division manufactures and markets advanced diagnostic products used at home, in hospitals, and in physicians' offices for the early detection of significant medical conditions and serious diseases.
Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended improvements to the Company's financial performance, continued growth in business, launch dates, expansion, expected orders, growth prospects, leading market positions, anticipated future sales revenues of the company, success of product(s) and new product introductions. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its new business model and expansion plans, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
Contact: Janet Moore 949-645-2111
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