 |
TSO3: Highpoints and financial results for the fiscal year ended at December 31, 2005March 10, 2006Québec City, March 10, 2006 – TSO3 Inc. (TSX: TOS) announced today its financial results for the fiscal year ended at December 31, 2005.For the fiscal year ended December 31, 2005, the Company posted a net loss of $6.4 million or $0.19 per share, compared to a net loss of $5.9 million or also $0.19 per share for the fiscal year 2004. This slight increase in the net loss is explained by the intensification of the Company’s commercial launch efforts, as well as by the increase of R&D expenses, mainly used for compatibility validation and other necessary activities to support the commercial launch. “In 2005 the efforts of the past years were consolidated, in order to put in place all the elements necessary for the commercialization of our first product: the 125L Ozone Sterilizer”, said Jocelyn Vézina, CEO of TSO3 Inc. “Several of the first users are in their acquisition process, having evaluated our device and seen its effectiveness for themselves. Since we have reworked our agreement with our distribution partner to take the leadership of sales, we have a team of 16 professionals who are dedicating 100% of their efforts to selling the 125L Ozone Sterilizer and to clinical services. This new approach is bearing fruits and allows us to save the equivalent of the discount previously given to the distributor and, thereby, to substantially increase our margins. We look forward to the fiscal year 2006 with great enthusiasm ». Highpoints Overview - First firm sale of a 125L Ozone Sterilizer to a North American hospital after the sterilizer was submitted to a rigorous evaluation process. - Positive reports on the 125L Ozone Sterilizer from two U.S referral sites: “Economical,” “simple,” “reliable” and “safe for hospitals” are among the conclusions in the written reports from users and managers in hospital settings. - New claims in Canada for the sterilization of a greater variety of instruments that include instruments for micro-invasive surgery and endorsements from instruments manufacturers. - Hiring of a Sales Director – U.S. market and opening of four new positions for regional sales managers, supports the commercialization efforts for the 125L Ozone Sterilizer. - Securing of TSO3 financial position with the closing of a $10 million private placement. To view the entire release, as well as the management discussion and analysis, click here. |
© 2005-2008 TSO3. All Rights Reserved.
