Medwave reports auditor's going concern
Medwave(St. Paul, Minnesota) reported that its financial statements for the fiscal year ended Sept. 30, 2006, included in the company’s Form 10-K filed Jan. 16, contain a going concern modification to the audit opinion from its independent accounting firm, Carlin, Charron & Rosen. The going concern modification is based on the company's continuing recurring net losses from operations, and its accumulated deficit of about $34 million. NASDAQ Marketplace Rule 4350(b)(1)(B) requires separate disclosure of receipt of an audit opinion that contains a going concern qualification.
Medwave makes sensor-based non-invasive blood pressure solutions. Medwave trades on the NASDAQ capital market under the symbol MDWV.