Solos Endoscopy, Inc. (OTCMKTS:SNDY) recently reported a quarterly revenue of $62,705. Along with the financial report is an earnings per share (EPS) loss of $0.06.
The revenue shows a decline from the $74,525 recorded during the same period last year. However, the company’s EPS shows an improvement from the loss of $0.10 during the same quarter last year.
As part of its restructuring efforts, Solos Endoscopy has incurred a total general and administrative expenses of $144,444, which is lower than the $149,089 expenses seen during the same period last year.
In 2015, Solos Endoscopy has fulfilled its recapitalization efforts, believing that it will maximize the company’s growth within a year. The company’s recapitalization transaction is generally anticipated to unlock funds, which shall be used to pay debts and complete purchase contracts.
With the recapitalization transaction, Solos Endoscopy saw a minimized outstanding share count. Over the course of the initiative, the company has had several reverse stock splits to simplify the share structure.
Robert Segersten, Solos Endoscopy President, explained that the company’s primary objective is to encourage the re-evaluation of Solos Endoscopy’s true value. This will pave way to an improved stockholder value. Furthermore, the recapitalization initiative also contributes to Solos Endoscopy’s position in the international endoscopic market.
Regulatory Approvals of Endoscopic Instruments
The company upholds that all of its instruments have Food and Drug Administration (FDA) approvals. Earlier this year, Solos Endoscopy revealed the renewal of the Establishment Registration and Device Listing of its endoscopic materials. The entire MammoView instrument line is also approved by the FDA. Presently, Solos Endoscopy provides more than 200 endoscopic instruments in the market. The company also offers illumination devices, camera systems, and laparoscopic instruments. Moreover, the company is also dedicated to developing more endoscopic instruments to help improve the healthcare services of medical facilities.
Sergersten believes that having these coveted approvals establish a strong position for Solos Endoscopy in the global market. With its cutting-edge medical instruments, the company is already recognized around the world.