Physiometrix (North Billerica, Massachusetts) said that its 2004 financial statements included in the company's Form 10-K, filed on March 31, with the Securities and Exchange Commission, contained a "going concern" qualification from its auditors.

The announcement, it said, is made to comply with Nasdaq rules requiring disclosures of such an opinion. The uncertainty described is based upon the company's cash balance as of Dec. 31, which, it said, "was not sufficient to fund projected operations over the next year and does not take into account any potential future cash inflows."

Physiometrix makes non-invasive medical products, based on gel materials, signal-processing electronic technologies and software, for use in anesthesia monitoring during surgery.