IntraOp Medical Announces $1.2 Million Financing.SUNNYVALE, Calif. -- IntraOp Medical Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IOPM) announced today that it closed a $1.2 million financing to provide a portion of the additional capital it requires to fulfill its backlog commitments and its expected order growth for the year. Donald A. Goer, Ph.D., President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Intraop, stated "Prospects for FY2007 are extremely strong. We require this financing to fulfill our order backlog and to prepare for the additional orders we expect. During the next four months, we expect to complete the last phase of our financing to allow us to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale to multi-unit per month production to meet our projected demand." The Company recently reported $5.98 million in sales for the fiscal year ended September 30, 2006, with an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $2.43 million and a net loss of $7.16 million. The fourth quarter had sales of $3.67 million, with break even operations and a net loss of $1.14 million. About IntraOp IntraOp Medical Corporation provides innovative technology solutions for the treatment and eradication of cancer. Founded in 1993, IntraOp is committed to providing the tools doctors need to administer intraoperative radiation therapy intraoperative radiation therapy Radiation oncology RT directly in a tumor during surgery. See Radiation oncology. safely and effectively - for all cancer patients. The company's flagship product, Mobetron, is the first fully portable, self-shielding intraoperative electron radiation therapy Intraoperative Electron Radiation Therapy (or "IOERT") is the application of electron radiation directly to the residual tumor or tumor bed during cancer surgery. IOERT has been called "precision radiotherapy", as the physician has direct visualization of the tumor, can exclude normal device designed for use in any operating room operating room n. Abbr. OR A room equipped for performing surgical operations. . Key Mobetron benefits include: increased survival rates, better local tumor control, shorter treatment cycles, and fewer side effects Side effects Effects of a proposed project on other parts of the firm. . Leading hospitals, from university research centers to specialized cancer clinics in North America, Europe and Asia, use Mobetron as a vital part of their comprehensive cancer program. For more information on IntraOp Medical Corporation, please visit www.intraopmedical.com Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as competition in the markets for the company's products and services and the ability of the Company to execute its plans. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. |
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