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Prospector
Profile
07.1476
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| Diasys Corporation |
NAICS |
334510 |
| 21 West Main Street
Waterbury, CT 06702 |
Description |
Medical Equipment Mfg. |
| (203) 755-5083 |
Employees |
10 |
| http://www.diasys.com/ |
Revenue |
(mil) |
1.6780 |
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Income |
(mil) |
-0.7850 |
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Assets |
(mil) |
2.4880 |
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Liability |
(mil) |
1.6790 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Fiondella Milone & LaSaracina LLP expressed substantial doubt about the ability of DiaSys Corporation to continue as a going concern after it audited the Company's financial statements for the fiscal year ended June 30, 2007. The auditing firm points to Company's recurring losses from operations, cash used by operating activities, negative working capital, and accumulated deficit. The Company posted a $785,234 net loss on $1,678,154 of net sales for the year ended June 30, 2007, as compared with a $1,047,794 net loss on $1,688,097 of net sales in the prior year.
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Intellectual Property:
The Company has been granted 20 patents on its R/S, FE, and Parasep technologies. A total of 4 patents have been issued both on the concept and specific architecture of the Company’s workstation-systems. It has also been granted similar patent protection in Australia, Brazil, Canada, China, Switzerland, Germany, Spain, France, Great Britain, Greece, Italy, Japan, Portugal, and Singapore. Patent applications are pending for a DiaSys device for testing Bence Jones Protein in urine. The Company has additional applications for patents pending, both domestic and abroad. The Company has been granted trade name protection for “DiaSys” and the product names Urizyme, DiaSys, Uriprep, Parasep, and Urisep. [SEC Filing 10-KSB 10-15-07]
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Description:
The Company engages in the design, development, manufacture, and distribution of workstation-instruments, consumables, reagents, and specialized test kits to hospital, clinical, and private physician laboratories worldwide.
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Officers:
Morris Silverman (Chair); Gregory Witchel (CEO & Dir.); Jeffrey B. Aaronson (Pres., CFO & Dir.); Robert M. Wigoda (Sec. & Dir.); Sherwin Gilbert (Dir.); Howard Bloom (Dir.); Sherman Lazrus (Dir.)
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Auditor:
Fiondella Milone & LaSaracina LLP
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Securities:
Common Stock-Symbol DYXC.OB; OTC BB;
25,721,822 common shares outstanding as of October 4, 2007.
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