Global Med Technologies(R), Inc. Chooses to Deposit Funds Into Escrow With the Superior Court Instead of Posting Bond for Summar
2005年8月5日 - 6:04AM
PRニュース・ワイアー (英語)
DENVER, Aug. 4 /PRNewswire-FirstCall/ -- Global Med
Technologies(R), Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) ("Global
Med" or the "Company") is foregoing posting a bond for the award of
attorneys' fees and costs granted on the summary judgment against
Global Med Technologies, Inc. in the Donnie L. Jackson, Jr. case,
and the Company has instead decided to deposit $1.004 million with
the Superior Court of the State of California in the County of El
Dorado ("Superior Court"). The Superior Court determined that this
amount will be sufficient to cover the attorneys' fees, costs, and
interest while the case is on appeal. As no damages were awarded by
the Superior Court, Global Med's total exposure is limited to
attorneys' fees, costs and interest. The Company has been funding
operations from internally generated cash flows since July 2000 and
expects this to continue. Hence, the Company has chosen to avoid
incurring the additional expenses associated with posting a bond.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO)
Global Med is vigorously appealing the summary judgment and in the
event the summary judgment is overturned on appeal, the amount
deposited into escrow will be returned to Global Med. Donnie L.
Jackson, Jr. was a former employee of the Company and is a current
employee or was a former employee of Mediware Information Systems,
Inc. The Company's Chairman and CEO, Michael I. Ruxin, M.D.,
commenting on the issue, stated, "Given our cash position and
strength of our cash flow due to the growth of our business, as
well as our strong backlog and substantial pipeline of potential
new business, as noted in our previous press releases, the Superior
Court's ruling will not materially impact the operations of the
Company." Global Med Technologies(R), Inc. is an international
e-Health medical information technology company providing
information management software products and services to the
healthcare industry. Its Wyndgate Technologies(R) division is a
leading supplier of information management systems to U.S. and
international blood centers and hospital transfusion centers.
Current clients of Wyndgate's products and services manage more
than 3 million units of blood, or over 22% of the U.S. blood
supply, each year. For more information about Global Med's products
and services, please call 800-WYNDGATE or visit
http://www.globalmedtech.com/, http://www.peoplemed.com/ and
http://www.wyndgate.com/. Statements in this press release that are
not strictly historical are "forward-looking" statements within the
meaning of the Safe Harbor provisions of the federal securities
laws. Forward-looking statements involve risks and uncertainties,
including, but not limited to, continued acceptance of the
Company's products and services in the marketplace, regulatory and
competitive factors, new products and technological changes, the
Company's dependence upon third-party suppliers, and other risks
detailed from time to time in the Company's Form 10-K and other
regularly filed reports. The results of operations for the quarter
ended June 30, 2005 or the year ended December 31, 2004 are not
necessarily indicative of the results that may be expected for any
other future period. Photo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO AP
Archive: http://photoarchive.ap.org PRN Photo Desk,
photodesk@prnewswire.co DATASOURCE: Global Med Technologies(R),
Inc. CONTACT: Michael I. Ruxin, M.D., Chairman and CEO of Global
Med Technologies(R), Inc., +1-303-238-2000; or John Nesbett or
Jordan Silverstein of The Investor Relations Group, +1-212-825-3210
Web site: http://www.globalmedtech.com/
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