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Howtek reports Q1 2002 financial results, update on merger plans.(Brief Article)
2002 JUN 13 - (NewsRx.com & NewsRx.net) -- Howtek, Inc., (HOWT) announced a net loss of $521,122 for the first quarter of 2002, on sales of $775,633, compared with a net loss of $639,591 on sales of $1,513,604 during the first quarter of 2001.
According to Scott Parr, Howtek's president "In February 2002, we announced that Howtek had entered into a plan and agreement of merger with Intelligent Systems Software, Inc., (ISSI), a privately held company based in Boca Raton, Florida. ISSI recently received approval from the U.S. Food and Drug Administration to market its MammoReader Computer Aided Detection (CAD) system in the United States. ISSI's MammoReader system is designed to help in early detection of breast cancer by assisting the radiologist in detecting subtle signs of cancer. The merger will be submitted to our shareholders for approval at our annual meeting in June 2002."
"During the first quarter of 2002," continued Parr, "Howtek began preparation for this recommended and planned merger. The company's plan is to concentrate in the future on its computer-aided detection of breast cancer markets, and on ...
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