BOSTON, May 26 /PRNewswire-FirstCall/ -- Solos Endoscopy, Inc. (Pink Sheets: SNDY) is pleased to announce that the Company generated $104,774 in revenues for the first quarter ended March 31, 2010 as compared to $95,227 in the first quarter 2009, which represents a 10 percent increase. As of March 31, 2010, Solos reported $2,276,462 in total assets. The Company has posted its financial results for the first quarter ended March 31, 2010 on Pink Sheets OTC Markets website (http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=sndy).
Solos recently announced the appointment of Fred Schiemann to its board of directors and Chief Financial Officer. Mr. Schiemann brings a strong administrative background in the small-cap company sector as well as expertise in taxation, auditing and public securities work. During his years of practice, Mr. Schiemann has been involved with many public registrations and structuring of mergers and acquisitions. His current practice includes an emphasis on administration and consulting to small and micro-cap public companies.
"We are pleased with the results of our first quarter," stated Bob Segersten, President of Solos Endoscopy, Inc. "We posted double-digit revenue growth and we feel great about our position as we continue to progress towards market expansion abroad."
Throughout the remainder of 2010, the Company will continue its new product development for the MammoView® product line as well as market expansion through its efforts to meet the requirements of the ISO 13485 standard and ultimately obtain the CE Mark and the permission to sell medical devices in the European Union and Canada.
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.
SOURCE Solos Endoscopy, Inc.