Vaso Corporation Expects to Report 2020 Financial Results by April 30, 2021
Vaso Corporation (OTC PINK: VASO) announced a delay in filing its annual report on Form 10-K for the year ending December 31, 2020. The company is addressing certain accounting issues and expects to complete the filing by April 30, 2021. Vaso operates in medical technology with three subsidiaries: VasoTechnology, which offers IT services; VasoDiagnostics, focused on sales for GE Healthcare products; and VasoMedical, which design and manage proprietary medical devices. Investors are advised to stay tuned for updates regarding financial results.
- No significant positive aspects reported.
- Delay in filing annual report could raise concerns among investors.
- Ongoing accounting issues indicate potential financial reporting complications.
PLAINVIEW, NY / ACCESSWIRE / April 15, 2021 / Vaso Corporation ("Vaso") (OTC PINK:VASO) today announces the delayed reporting of its operating results for the three months and year ended December 31, 2020.
The Company announces that it will be temporarily delayed in filing its annual report on Form 10-K which is due on April 15, 2021. The process is not yet completed on certain accounting issues. The company currently expects to file this annual report no later than April 30, 2021.
About Vaso
Vaso Corporation is a diversified medical technology company with several distinctive but related specialties: managed IT systems and services, including healthcare software solutions and network connectivity services; professional sales services for diagnostic imaging products; and design, manufacture and sale of proprietary medical devices.
The Company operates through three wholly owned subsidiaries:
- VasoTechnology, Inc. provides network and IT services through two business units: VasoHealthcare IT Corp., a national value added reseller of Radiology Information System ("RIS"), Picture Archiving and Communication System ("PACS"), and other software solutions from various vendors as well as related services, including implementation, management and support; and NetWolves Network Services LLC, a managed network services provider with an extensive, proprietary service platform to a broad base of customers.
- Vaso Diagnostics, Inc. d.b.a. VasoHealthcare, provides professional sales services and is the operating subsidiary for the exclusive sales representation of GE Healthcare diagnostic imaging products in certain market segments in the USA.
- VasoMedical, Inc. manages and coordinates the design, manufacture and sales of proprietary medical equipment and software, as well as operates the Company's overseas assets including China-based subsidiaries.
Additional information is available on the Company's website at www.vasocorporation.com.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this report, words such as "anticipates", "believes", "could", "estimates", "expects", "may", "optimistic", "plans", "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions, including the impact of the current COVID-19 pandemic; the effect of the dramatic changes taking place in IT and healthcare; continuation of the GEHC agreements; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
Investor Contact:
Michael J. Beecher
Investor Relations
Phone: 516-997-4600
Email: mbeecher@vasocorporation.com
SOURCE: Vaso Corporation
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