Tuesday, 11 November 2008

LMS under Review with TSX

LMS Medical Systems (LMZ - TSX)
Shares outstanding: 25.8m
Fully Diluted: 30.7 million
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The TSX released news today that it has given LMS 30 days notice at which time it has to meet minimum listing requirements or face a possible delisting. As you know LMS is in the process of seeking a financing and this announcement is likely connected to the company’s cash situation. All we can tell you at this point is a Toronto firm is working with LMS on securing the necessary money it needs at this time.

Stay tuned…

To read the full release, click here