Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > CombiMatrix Corporation Receives Going Concern Qualification

Abstract:
CombiMatrix Corporation (Nasdaq:CBMX) announced today that its financial statements for the fiscal year ended December 31, 2007, included in the Company's Annual Report on Form 10-K filed on March 19, 2008, contained a going concern qualification from its independent registered accounting firm Peterson Sullivan PLLC.

CombiMatrix Corporation Receives Going Concern Qualification

MUKILTEO, WA | Posted on March 26th, 2008

This announcement is required by Nasdaq Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2007.

Dr. Amit Kumar, President and Chief Executive Officer of CombiMatrix Corporation stated, "As of the end of the last fiscal year, we reported cash and short term investments of over $8 million and no debt on our balance sheet. In addition, we will continue our efforts to collect our court judgment of $32.1 million against National Union Fire Ins. Co. of Pittsburgh, PA, a member company of American International Group (AIG)."

####

About CombiMatrix Corporation
We are a diversified biotechnology business that develops proprietary technologies, products and services in the areas of drug development, genetic analysis, molecular diagnostics, nanotechnology research, defense and homeland security markets, as well as other potential markets where our products and services could be utilized. The technologies we have developed include a platform technology to rapidly produce customizable, in-situ synthesized, oligonucleotide arrays for use in identifying and determining the roles of genes, gene mutations and proteins. This technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology. Other technologies include proprietary molecular synthesis and screening methods for the discovery of potential new drugs. CombiMatrix Molecular Diagnostics, Inc., a wholly owned subsidiary located in Irvine, California, has developed capabilities of producing arrays that utilize bacterial artificial chromosomes, which also enable genetic analysis.

Additional information about CombiMatrix Corporation is available at www.combimatrix.com or by calling 1-800-985 CBMX (2269). Additional information about our laboratory CombiMatrix Molecular Diagnostics is available at www.cmdiagnostics.com or by calling 1-800-710-0624.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

For more information, please click here

Contacts:
CombiMatrix Corporation
Dr. Amit Kumar, President and
Chief Executive Officer,
(425) 493-2000
Fax (425) 493-2010

Copyright © PrimeNewswire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

New research project supports internationalisation in nano-research: Launch of new “Baltic Sea Network” November 22nd, 2014

3rd Iran-Proposed Nano Standard Approved by International Standard Organization November 22nd, 2014

NMTI announces breakthrough solutions for HAMR nanoantenna for next-generation ultra-high density magnetic storage November 21st, 2014

Canatu Launches CNB In-Mold Film for Transparent Touch on 3D Surfaces –in Cars, Household Appliances, Wearables, Portables November 20th, 2014

Announcements

New research project supports internationalisation in nano-research: Launch of new “Baltic Sea Network” November 22nd, 2014

3rd Iran-Proposed Nano Standard Approved by International Standard Organization November 22nd, 2014

NMTI announces breakthrough solutions for HAMR nanoantenna for next-generation ultra-high density magnetic storage November 21st, 2014

Nano Sorbents Able to Remove Pollutions Caused by Oil Derivatives November 20th, 2014

Financial Reports

Harris & Harris Group Reports Financial Statements as of September 30, 2014 November 11th, 2014

Harris & Harris Group to Host Conference Call on Third Quarter 2014 Financial Results on November 12, 2014 November 3rd, 2014

Aspen Aerogels, Inc. Schedules Third Quarter 2014 Earnings Release and Conference Call for November 6, 2014 October 17th, 2014

Nanometrics to Announce Third Quarter Financial Results on October 28, 2014 October 8th, 2014

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More












ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE