Milestone Medical Inc Announces Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
August 21, 2016
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Milestone Medical Inc. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, revenue was USD 5,525 compared to USD 11,550 a year ago. Net Loss from operations was USD 952,744 compared to USD 1,067,444 a year ago. Net loss was USD 975,863 compared to USD 1,062,697 a year ago.
For the six months revenue was USD 475 compared to USD 11,550 a year ago. Net Loss from operations was USD 1,781,065 compared to USD 1,949,480 a year ago. Net loss was USD 1,827,115 compared to USD 1,952,978 a year ago. Net cash used in operating activities were USD 297,267. Purchases of equipment were USD 3,787.
Milestone Medical, Inc. develops epidural and intra-articular drug delivery systems based on patented, painless, computer-controlled injection and drug delivery technology. Its CompuFlo Epidural System provides anesthesiologists and other health care providers with the ability to determine and document the pressure at the needle tip in real-time. Its CompuFlo Epidural's DPS Dynamic Pressure Sensing Technology (DPS) allows the CompuFlo Epidural to provide objective visual and audible in-tissue pressure feedback that allows anesthesiologists to identify the epidural space. The DPS instrument is a patented computer-controlled injection system geared to the needs of the medical market. The Companyâs is also focused on marketing the Epidural medical and trainer instruments in the United States. The Companyâs products include medical instruments, handpieces/disposables, and other related products. It sells its products primarily through medical facilities and a global distribution network.