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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 15 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): October 30, 1998
Commission file number: 1-12529
NETMED, INC.
(Exact name of Registrant as specified in its charter)
OHIO 31-1282391
(State of incorporation (I.R.S. Employer
or organization) Identification No.)
6189 MEMORIAL DRIVE, DUBLIN, OHIO 43017
(Address of principal executive offices, including zip code)
(614) 793-9356
(Registrant's telephone number, including area code)
ITEM 5.
NETMED ANNOUNCES COMMON STOCK TO CONTINUE TO BE LISTED ON THE AMERICAN
STOCK EXCHANGE
DUBLIN, OH, OCT. 30 -- NetMed Inc. (AMEX: NMD), today announced that the
Committee on Securities of The American Stock Exchange has deferred
consideration of the Company's appeal of the Exchange's determination to de-list
NetMed for a period of five (5) months. The Company's common stock will continue
to be listed on The American Stock Exchange until March 31, 1999 when another
hearing will be held to determine whether the listing should continue. While an
assessment of all relevant considerations will be made, the Company will be
evaluated on two specific expectations: 1) Securing additional funding for the
development of industrial applications for the Company's oxygen technology, and
2) Continuing to receive an unqualified opinion on its financial statements from
the Company's auditors on its 1998 financial statements.
David J. Richards, NetMed's president and CEO stated, "We obviously are very
pleased with the decision of the Committee on Securities. The visibility of an
AMEX listing will be a very valuable asset going forward. We also believe that
being a listed company on a traditional exchange helps insure our shareholders
of continued oversight by AMEX and an orderly and fair market in which to trade
the Company's common stock. I believe that the conditions for continued listing
are certainly achievable in the time frame allowed."
NetMed, Inc. is engaged in the business of acquiring, developing and
marketing medical and health-related technologies. The company's revenues are
currently derived principally from the marketing of the PAPNET(R) Testing
System, an advanced computerized test that pinpoints and magnifies
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precancerous cells. The company is also developing the OxyNet oxygen
concentration device, which it plans to manufacture and sell in the home
healthcare market.
Statements in this release which relate to other than strictly historical facts,
including statements about the Company's plans and strategies, as well as
management's expectations about new and existing products, technologies and
opportunities, market growth, demand for and acceptance of new and existing
products (including the PAPNET(R) Testing System and the OxyNet(R) oxygen
concentration device), are forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "project," and similar expressions identify
forward-looking statements that speak only as of the date hereof. Investors are
cautioned that such statements involve risks and uncertainties that could cause
actual results to differ materially from historical or anticipated results due
to many factors including, but not limited to, the Company's current reliance on
a single product marketed under license from NSI, the corresponding dependence
on NSI's patents and proprietary technology, government regulation, continuing
losses from operations and negative cash flow, limited marketing and sales
history, the impact of third party reimbursement decisions, the challenges of
research and development of new products, and other risks detailed in the
Company's most recent Annual Report on Form 10-K and other Securities and
Exchange Commission filings. The Company undertakes no obligation to publicly
update or revise any forward-looking statements.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned herunto duly authorized in Dublin, Ohio on this 5th day of November,
1998.
By: /s/ David J. Richards
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David J. Richards, President
