Printer Friendly

EDITEK, INC. GRADUATES TO AMERICAN STOCK EXCHANGE PRIMARY MARKET

 BURLINGTON, N.C., Sept. 27 /PRNewswire/ -- EDITEK, Inc. (AMEX: EDI) reported today that its Common Stock was listed on the Primary Market of the American Stock Exchange on Friday, Sept. 24, 1993 under the symbol "EDI." As a result of recent, successful, equity, private placements of approximately $1,000,000, the company met the listing requirements for the Primary Market and "graduated" from the Emerging Company Marketplace where the stock had been trading since September 1992.
 "With almost $3,000,000 in cash and cash equivalents and our stock trading on the Primary Market of the American Stock exchange," James D. Skinner, president and C.E.O. said: "EDITEK is now well positioned to pursue its strategy of revenue growth and profit achievement through sales of internally developed and manufactured products, products purchased for resale, partnership relations with major, respected corporations and, last, but not least, selected, synergistic mergers and acquisitions. EDITEK has recently entered into a letter of intent to merge with PDLA, a NIDA certified, publicly traded company involved in drug testing. Upon successful completion of the acquisition of PDLA, EDITEK will be able to provide a broad range of abused substance, on- site and laboratory tests and other services. EDITEK has a strong balance sheet, quality products, the credibility and visibility of being traded on the AMEX Primary Market, patented technology, and, following our first acquisition, PDLA, the critical mass to aggressively pursue revenues and profitability."
 Peter J. Heath, vice president finance and chief financial officer, said: "We have been extremely pleased with the trading of our stock on the ECM of the American Stock Exchange and enjoy a good relationship with AMEX personnel. The ECM is an excellent marketplace for small cap, emerging companies to trade their stock. Upon the completion of our most recent financing, the American Stock Exchange worked closely with us to expedite our "graduation" to the American Stock Exchange Primary Market."
 EDITEK, Inc. is a biodiagnostic company with patented technology for the performance of rapid, on-site assays including one-step assays.
 -0- 9/27/93
 /CONTACT: Peter Heath, Vice President Finance and Chief Financial Officer of EDITEK, 919-226-6311/
 (EDI)


CO: EDITEK, Inc. ST: North Carolina IN: MTC SU:

MM -- CH008 -- 0629 09/27/93 12:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 27, 1993
Words:374
Previous Article:THE PRICE REIT INC. ANNOUNCES ARIZONA ACQUISITION
Next Article:SPRINT JOINS THE ATLANTA PROJECT; COMPANY TO SUPPORT WEST FULTON CLUSTER
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters