Contact Information: Contact: Zackary Irani 949-645-2111
Biomerica Announces Income of $697,034 on Sale of Securities Held for Investment
| Source: Biomerica
NEWPORT BEACH, CA--(Marketwire - June 20, 2007) - Biomerica, Inc. (OTCBB : BMRA ), a global
provider of advanced diagnostic products for the early detection of medical
conditions, announces income of $697,034 on the sale of the Hollister-Stier
Laboratories securities it held for investment. The Hollister-Stier
securities were held as an option to purchase shares in Hollister-Stier
Laboratories LLC and were carried on Biomerica's balance sheet at a zero
value as Hollister-Stier Laboratories is a private company. The
acquisition of Hollister-Stier Laboratories by Jubilant Organosys Ltd.
closed on June 1, 2007.
"The timing of this gain is fortuitous as we gear up to introduce new
products and broaden our distribution in the up coming fiscal year," said
Zackary Irani, Biomerica's Chief Executive Officer.
Biomerica also holds 683,562 shares of common stock of Lancer Orthodontics,
its formerly consolidated subsidiary.
About Biomerica (OTCBB : BMRA )
Biomerica, Inc. (www.biomerica.com) is a global medical technology company,
based in Newport Beach, CA. The Company manufactures and markets advanced
diagnostic products used at home, in hospitals, and in physicians' offices
for the early detection of medical conditions and diseases.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this press release (as well as information included in oral statements or
other written statements made or to be made by Biomerica) contains
statements that are forward looking; such as statements relating to
intended launch dates, sales potential, significant benefits, market size,
growth of business, favorable positions, expansion, expected orders,
leading market positions, anticipated future revenues or production volume
of the Company, success of product and new product offerings. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future, and
accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of Biomerica. The potential
risks and uncertainties include, among others, fluctuations in the
Company's operating results due to its business model and expansion plans,
downturns in international and or national economies, the Company's ability
to raise additional capital, the competitive environment in which the
Company will be competing, and the Company's dependence on strategic
relationships. The Company is under no obligation to update any
forward-looking statements after the date of this release.