ALLIANT Medical Technologies Announces Nonpayment of Interest On 6% Convertible Subordinated Notes Due October 15, 2003.Business/Technology Editors & Health/Medical Writers NORWOOD, Mass.--(BW HealthWire)--April 15, 2002 UroMed Corporation d/b/a ALLIANT Medical Technologies (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : URMD.OB) announced today that it did not make the $432,000 interest payment due on its 6% Convertible Subordinated Notes Due October 15, 2003. Under the terms of these Notes, the Company has a 30-day grace period within which to make this payment. The Company is attempting to restructure the terms of the Notes and has retained an advisor to assist in this effort. The Company is pursuing various options to improve its cash position, including the possible sale of equity securities, and the divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of its Cavermap assets and technology. The Company is also considering other strategic alternatives including a possible sale, reorganization or liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy . If the Company does not succeed in restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). the terms of its Convertible Notes Due October 15, 2003 or improving its cash position, it will probably be unable to fund its operations and debt service obligations through the quarter ending June 30, 2002. COMPANY MISSION ALLIANT's mission is to deliver stakeholder stakeholder n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. value by providing highly effective and efficient cancer treatment options that will improve both the longevity longevity (lŏnjĕv`ĭtē), term denoting the length or duration of the life of an animal or plant, often used to indicate an unusually long life. and quality of life for cancer patients around the world. Our organization's foundation is built on a solid technology base along with the integrity, commitment and respect of experienced team members. We are focused on developing a deep understanding of our markets, listening closely to customers and establishing key strategic alliances that will lead to the development and distribution of products and services that are consistent with our core strategy and will ultimately deliver a return to our investors. As always, the Company plans to continue to dedicate ded·i·cate tr.v. ded·i·cat·ed, ded·i·cat·ing, ded·i·cates 1. To set apart for a deity or for religious purposes; consecrate. 2. resources to develop and/or acquire products that fit into its strategic platform. On July 19, 2001, UroMed Corporation announced that it would change its name to "ALLIANT Medical Technologies", and until it receives formal stockholder approval it would do business under that name. RISK FACTORS AND FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. The Company recognizes that the previous paragraphs contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future activities. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control. Actual results could differ materially from these forward-looking statements as the result of certain risks, including the risk that the Company will not succeed in raising additional capital through the sale of securities or assets or generate cash from operations sufficient to meet the Company's liquidity needs, the risk that physicians using the Company's products will not develop into long-term users, the Company's ability to successfully reduce costs, the uncertainty of securing additional alliances, the uncertainty of general market acceptance of the Company's product lines, as well as the Company's dependence on these products going forward, and the risk that the Company will not be able to successfully develop any new products. There can be no assurance that these risks will not have a material adverse effect on the Company. Other relevant risks are described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001, under the headings "Forward-Looking Statements and Associated Risks" and "Risk Factors," which are incorporated herein by reference. |
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