The Conversation (0)
LED Medical Diagnostics Inc. (TSXV:LMD,OTCQX:LEDIF,FWB:LME) reported financial results for the fourth quarter and full year ended December 31, 2013. Highlights include a positive working capital of $4,445,795 at December 31, 2013 as compared to negative working capital of $96,749 at December 31, 2012.
As quoted in the press release:
Financial Position as at December 31, 2013
Working capital as at December 31, 2013 was $4,445,795, which includes cash of $4,358,986. This is compared to negative working capital of $96,749 at December 31, 2012, which included cash of $969,584.Three-Month Comparative Results
The Company reported revenue of $215,714 for the three months ended December 31, 2013 as compared to $1,389,994 for the three months ended December 31, 2012. Net loss was $1,460,801 for the three months ended December 31, 2013, as compared to a net loss of $174,630 for the three months ended December 31, 2013.
LED CEO, Dr. David Gane, said:
2014 is expected to be a transformational year for LED as our new management team expands our VELscope distribution network and transitions the Company from a single product strategy to a diverse portfolio of digital imaging products. The execution of our strategy, which will take an investment in time and capital in the current year, is designed to position the Company for long-term, sustainable growth and success as a leading player in the dental imaging market.
Click here to read the LED Medical Diagnostics Inc. (TSXV:LMD) press release
Click here to see the LED Medical Diagnostics Inc. (TSXV:LMD) profile.