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HNSN » Topics » Operating Capital and Capital Expenditure Requirements

These excerpts taken from the HNSN 10-K filed Feb 28, 2008.
Operating Capital and Capital Expenditure Requirements
 
We are in the early stages of commercializing our Sensei system and Artisan catheter and we have not achieved profitability. We anticipate that we will continue to incur substantial net losses for the next several years as we continue to commercialize our products, develop the corporate infrastructure required to manufacture and sell our products at sufficient levels and operate as a publicly traded company as well as continue to develop new products and pursue additional applications for our technology platform.


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We recognized our first revenues in 2007 and do not expect to generate net income in 2008. We believe our existing cash, cash equivalents and investment balances and interest income we earn on these balances will be sufficient to meet our anticipated cash requirements through at least the next year. However, we may require additional capital beyond our currently forecasted amounts and, if our available cash, cash equivalents and investment balances are insufficient to satisfy our liquidity requirements, we may seek to sell additional equity or debt securities or enter into a credit facility. Any such required additional capital may not be available on reasonable terms, if at all. If we are unable to obtain additional financing, we may be required to reduce the scope of, delay, or eliminate some or all of, our planned research, development and commercialization activities or to license to third parties the rights to commercialize products or technologies that we would otherwise seek to commercialize, any of which could materially harm our business.
 
Because of the numerous risks and uncertainties associated with the development and commercialization of medical devices, such as our Sensei system and disposable Artisan catheter, we are unable to estimate the exact amounts of capital outlays and operating expenditures necessary to continue the development of new products and the expanded commercialization of existing products. Our future capital requirements will depend on many factors, including but not limited to the following:
 
  •  The success of our research and development efforts;
 
  •  The expenses we incur in selling and marketing our products;
 
  •  Our ability to produce products to meet customer demand;
 
  •  The costs and timing of future regulatory clearances;
 
  •  The revenue generated by sales of our current and future products;
 
  •  The rate of progress and cost of our clinical trials and other development activities;
 
  •  The emergence of competing or complementary technological developments;
 
  •  The costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property or other legal rights, or participating in litigation-related activities;
 
  •  The terms and timing of any collaborative, licensing or other arrangements that we may establish; and
 
  •  The acquisition of businesses, products and technologies.
 
Operating
Capital and Capital Expenditure Requirements


 



We are in the early stages of commercializing our Sensei system
and Artisan catheter and we have not achieved profitability. We
anticipate that we will continue to incur substantial net losses
for the next several years as we continue to commercialize our
products, develop the corporate infrastructure required to
manufacture and sell our products at sufficient levels and
operate as a publicly traded company as well as continue to
develop new products and pursue additional applications for our
technology platform.





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Table of Contents






We recognized our first revenues in 2007 and do not expect to
generate net income in 2008. We believe our existing cash, cash
equivalents and investment balances and interest income we earn
on these balances will be sufficient to meet our anticipated
cash requirements through at least the next year. However, we
may require additional capital beyond our currently forecasted
amounts and, if our available cash, cash equivalents and
investment balances are insufficient to satisfy our liquidity
requirements, we may seek to sell additional equity or debt
securities or enter into a credit facility. Any such required
additional capital may not be available on reasonable terms, if
at all. If we are unable to obtain additional financing, we may
be required to reduce the scope of, delay, or eliminate some or
all of, our planned research, development and commercialization
activities or to license to third parties the rights to
commercialize products or technologies that we would otherwise
seek to commercialize, any of which could materially harm our
business.


 



Because of the numerous risks and uncertainties associated with
the development and commercialization of medical devices, such
as our Sensei system and disposable Artisan catheter, we are
unable to estimate the exact amounts of capital outlays and
operating expenditures necessary to continue the development of
new products and the expanded commercialization of existing
products. Our future capital requirements will depend on many
factors, including but not limited to the following:


 










































































































  • 
The success of our research and development efforts;
 
  • 
The expenses we incur in selling and marketing our products;
 
  • 
Our ability to produce products to meet customer demand;
 
  • 
The costs and timing of future regulatory clearances;
 
  • 
The revenue generated by sales of our current and future
products;
 
  • 
The rate of progress and cost of our clinical trials and other
development activities;
 
  • 
The emergence of competing or complementary technological
developments;
 
  • 
The costs of filing, prosecuting, defending and enforcing any
patent claims and other intellectual property or other legal
rights, or participating in litigation-related activities;
 
  • 
The terms and timing of any collaborative, licensing or other
arrangements that we may establish; and
 
  • 
The acquisition of businesses, products and technologies.


 




This excerpt taken from the HNSN 10-K filed Mar 28, 2007.
Operating Capital and Capital Expenditure Requirements
 
To date, we have not commercialized any products and we have not achieved profitability. We anticipate that we will continue to incur substantial net losses for the next several years as we develop our products, prepare for the potential commercial launch of our Sensei system and disposable Artisan control catheters, develop the corporate infrastructure required to manufacture and sell our products and operate as a publicly traded company as well as pursue additional applications for our technology platform.
 
We do not expect to generate significant product revenue until 2008. We believe the net proceeds from our initial public offering, together with our pre-existing cash, cash equivalents and investment balances and interest income we earn on these balances will be sufficient to meet our anticipated cash requirements through at least the next year. If our available cash, cash equivalents and investment balances are insufficient to satisfy our liquidity requirements, we may seek to sell additional equity or debt securities or enter into a credit facility. We may require additional capital beyond our currently forecasted amounts. Any such required additional capital may not be available on reasonable terms, if at all. If we are unable to obtain additional financing, we may be required to reduce the scope of, delay, or eliminate some or all of, our planned research, development and commercialization activities, which could materially harm our business.


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Table of Contents

 
Because of the numerous risks and uncertainties associated with the development of medical devices, such as our Sensei system and disposable Artisan control catheter, we are unable to estimate the exact amounts of capital outlays and operating expenditures necessary to complete the development of the products and successfully deliver a commercial product to the market. Our future capital requirements will depend on many factors, including but not limited to the following:
 
  •  The success of our research and development efforts;
 
  •  The expenses we incur in selling and marketing our products;
 
  •  The costs and timing of regulatory clearance;
 
  •  The revenue generated by sales of our future products;
 
  •  The rate of progress and cost of our clinical trials and other development activities;
 
  •  The emergence of competing or complementary technological developments;
 
  •  The costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual product rights, or participating in litigation-related activities;
 
  •  The terms and timing of any collaborative, licensing or other arrangements that we may establish; and
 
  •  the acquisition of businesses, products and technologies, although we currently have no commitments or agreements relating to any of these types of transactions.
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 28, 2008
10-K
Mar 28, 2007

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