CSMG Technologies Reviews Last 12 Months at Empire Financial Group Conference
25 Juillet 2007 - 7:28PM
Business Wire
CSMG Technologies, Inc., (OTCBB: CTUM), a technology management
company focused on commercializing human live tissue surgical
bonding devices, announced updating its investment banking firm,
Empire Financial Group (Amex: EFH), at Empire�s annual Key
Producers Meeting one year after EFH was retained, and was
successful in funding the Company. CSMG President and CEO Donald S.
Robbins informed the representatives of Empire that in the past
year since Empire started funding CSMG to commercialize CSMG�s
tissue welding technology. We have attained a number of important,
key accomplishments during the last 12 months, among them: Hired
Frank D'Amelio, an internationally recognized medical device
expert, to lead the commercialization of our patented surgical
device for bonding live human tissue. Hired Stellartech, a leading
surgical device design company, to design and manufacture the LTC
commercial electro-surgery generator, and ViR and Ventrex, leading
instrument designers and manufacturers, to design and manufacture
the disposable instruments. Retained a major U.S. University to
complete important laboratory work Completed the duct and vessel
sealing procedure equipment for FDA filing Retained a leading
Washington, DC law firm specializing in FDA filings Filed a 510(K)
submission with the U.S. FDA for the duct and vessel sealer and two
instruments. Identified 13 surgical specific procedure license and
distribution opportunities, and of these have formed 5 surgical
procedure specific subsidiaries under subsidiary Live Tissue
Connect (LTC) Nearly completed end-to-end anastomosis prototype and
testing in Ukraine Engaged an international research firm to audit
Ukraine human surgeries Currently preparing documentation for
Europe�s CE Mark certification Added two key surgeons to the U.S.
advisory group to provide surgeon training and surgical feedback
Have 29 surgeons, engineers and scientists working on the LTC
project in Ukraine Have five engineers in the United States working
on product commercialization Had European Union, Ukraine, and
Canadian patents issued, which supplement the exiting U.S. and
Australian patents already issued Mr. Robbins also informed the
Empire representatives that CSMG had 40 US and international issued
or pending. "We have enjoyed working with Empire Financial Group,
as they understand our technologies, and importantly, have a
successful track record raising capital. Over this last 12 month
period CSMG�s market cap has grown from $8.25 million to about
$26.4 million, while we reduced debt by approximately $400
thousand," added Mr. Robbins. Mr. Ed Cabrera, Senior Managing
Director of Investment Banking, Empire Financial Group said, "We
are proud of our association with CSMG, and continue to believe
that it owns a truly disruptive technology that has the potential
to alter surgical procedures." About Empire Financial Group, Inc.
Empire Financial Group and its subsidiaries provide investment
banking and corporate financing services, as well as securities
brokerage, asset management, and market making services in the
United States, Europe and Asia. It provides brokerage services
directly to retail customers, and small- to mid-sized institutions.
Empire Investment Advisors provides investment advisory services to
its customers, independent registered investment advisors, and
unaffiliated broker dealers. Empire Financial Holding also offers
ancillary services, including market data and financial
information, portfolio tracking and records management, cash
management services, and account security. Based in Longwood,
Florida, the company, founded in 2000, has offices in NYC, NY and
other locations throughout the U.S. About CSMG Technologies, Inc.
CSMG Technologies is a technology management company that finances,
owns, develops, licenses and markets innovative advanced
technologies and business opportunities created in the Ukraine
through a network of scientific institutes and private
organizations. CSMG is focused on two primary subsidiaries, Live
Tissue Connect, Inc. and landfill gas processing. Information
regarding procedures using the technology and technical information
regarding the technology will be removed from our web site pending
FDA clearance. For further information on CSMG Technologies and its
various subsidiaries, please visit our website at www.ctum.com.
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