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Paradigm WorksTowards Becoming Current Financially and Updates Retimax Information
Paradigm WorksTowards Becoming Current Financially and Updates Retimax Information.
About this update from Paradigm Medical Industries Inc
[{"type":"text","content":" Contact: Stephen L. Davis President and Chief Executive Officer801-977-8970 www.paradigm-medical.comFOR IMMEDIATE RELEASE Paradigm To Become Current with Financial Disclosure Reporting and Update on Retimax™ FDA Application SALT LAKE CITY, UTAH, June 8, 2010 -- Paradigm Medical Industries, Inc. (OTC.PK:PDMI) announced today that it has begun the process of becoming and remaining current with its financial and disclosure obligations on the Pink OTC Markets. During most of 2009, due to limited working capital, Paradigm was unable to remain current with its quarterly and annual reports. Paradigm recently obtained some additional funding and, as a result, has begun to correct this critical step concerning its responsibility to provide financial information to its shareholders and the investment community. On June 4, 2010, Paradigm posted a Quarterly Report for the period ended June 30, 2009 on the Pink OTC Markets. On June 8, 2010, Paradigm posted a Quarterly Report for the period ended September 30, 2009 on the Pink OTC Markets. Paradigm is in the process of completing a financial audit and preparing an Annual Report for the fiscal year ended December 31, 2009. “As Paradigm continues to rebuild itself, it is vital that its shareholders be kept aware of the important steps that management has taken to complete this process. With the recent financial assistance from an outside source, Paradigm will overcome this obstacle just as it has many other obstacles the past year,” said Stephen Davis, Paradigm’s President and Chief Executive Officer. Paradigm also has been advised by Costruzione Strumenti Oftalmici (CSO), its Italian partner, that there was a delay in the filing of the 510(k) application for the Retimax™ (Paramax) with the FDA. The ap...