BOSTON, Jan. 4, 2013 /PRNewswire/ -- Solos Endoscopy, Inc. (OTCPK: SNDY) is pleased to announce that the Company plans to continue its progress in 2013 as its management has announced its goals for moving forward in the New Year.
Solos Management believes its long term success is contingent upon its efforts to strengthen its balance sheet, its ability to obtain proper certifications of its product line, and the development of distribution channels for its endoscopic instruments. In 2013, Solos management will focus on completing its certifications, mergers and acquisitions, and the commencement of a financial audit as the Company attempts to move to the next level. Management is confident that its products have been FDA approved and are accepted in Hospitals nationwide. The Company will continue product development and marketing as it attempts to sell its endoscopic instruments internationally.
Solos Endoscopy management strengthened its balance sheet in 2102 as it finished the 3 rd quarter with total assets of $2,490,394 compared to total liabilities of just $96,872 for the same period. As a result the Company has net assets or a book value of $2,393,522. Throughout the year, Solos focused its R & D efforts into the design and development of new modifications to its endoscopic instrument lines to accommodate the continual advances in Laparoscopic surgical procedures. This includes the introduction of the new Steri Tap and the addition of Bariatric instruments for procedures for the most overweight sectors of our population. Solos now offers all of its instruments in lengths from 32cm up to 45 cm.
The demand for endoscopic services is increasing due to a rise in the aging and chronically ill population worldwide. Advancements in endoscopic technologies and inclusion of various types of lighting sources, video cameras, real-time conversion of data into three-dimensional images are also driving this market. Endoscopy procedures have become highly effective in the diagnosis, treatment, and management of cancer patients. Many now consider endoscopy to have become the gold standard for cancer diagnosis and treatment, as well as for many other medical conditions.