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10-K - FORM 10-K - TRIMEDYNE INCtmed_10k-093012.htm
EX-32.1 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3201.htm
EX-32.2 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3202.htm
EX-31.2 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3102.htm
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EXCEL - IDEA: XBRL DOCUMENT - TRIMEDYNE INCFinancial_Report.xls
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v2.4.0.6
1. Organization and Business
12 Months Ended
Sep. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Note 1 - Organization and Business

Trimedyne, Inc. ("Trimedyne") and its subsidiaries (collectively "the Company") are engaged primarily in the manufacture and sale of lasers, and disposable and reusable fiber-optic laser devices in the medical field. The Company's operations include the provision of services and rental of lasers and other medical equipment to hospitals and surgery centers on a "fee-per-case" basis in the Southwestern United States, through its wholly owned subsidiary Mobile Surgical Technologies, Inc. ("MST"), located in Dallas, Texas. The Company's operations are primarily located in Southern California with distribution of its products worldwide (see Note 10).

 

Going Concern

 

At September 30, 2012, we had working capital of $2,325,000 compared to $2,904,000 at the end of the previous fiscal year ended September 30, 2011. Cash decreased by $679,000 to $472,000 at September 30, 2012 from $1,151,000 at the fiscal year ended September 30, 2011.

 

During the first quarter of the fiscal year ended September 30, 2012, we received 19 purchase orders for future delivery of Lasers, of which nine of these Lasers were shipped. We expect to ship more of these Lasers during the next 12 months.

 

The Company has incurred recurring losses from operations and has used cash in operating activities. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Additional working capital in the next 12 months will be required. We will attempt to raise additional debt and/or equity capital, sell some of our assets, reduce our costs by eliminating certain personnel positions and continue to reduce certain overhead costs in order to fund operations. There is no assurance that our efforts in securing capital necessary to sustain existing operations and exploit new technologies will be successful.

 

The Company is currently pursuing market development efforts in growth markets in Pacific Rim countries, Latin America and Eastern Europe. We believe that by expanding healthcare infrastructure in these markets we will create a sustained demand for Holmium Lasers applied to Spinal Endoscopy, Laser Lithotripsy and Laser prostate ablation. Additionally, we expect the global trend toward single-use disposable laser delivery products will improve sales and profit margins as more hospitals convert from multi-use products, due to concerns for sterility and interests to reduce handling costs incurred in product sterilization and we are developing more single-use products.