SAN DIEGO, April 6, 2009 (GLOBE NEWSWIRE) -- OccuLogix, Inc., dba TearLab Corporation (Tearlab) (Nasdaq:TEAR) (TSX:TLB), announced that its financial statements for the year ended December 31, 2008, filed with its Annual Report on Form 10-K on March 31, 2009, included an audit report of Ernst & Young LLP, its Independent Registered Public Accounting Firm, dated March 25, 2009, which contained a going concern qualification.
This announcement is made in compliance with the new Nasdaq Marketplace Rule 4350(b), which requires separate disclosure of receipt of an audit opinion that contains a going concern qualification, and does not reflect any change or amendment to the financial statements issued on March 25, 2009.
About OccuLogix, Inc., dba TearLab Corporation
OccuLogix, Inc., dba TearLab Corporation (TearLab) (www.tearlab.com), is an in-vitro diagnostics company that develops and commercializes a proprietary tear testing platform, TearLab(tm), for use in the physician and clinical office. TearLab employs lab-on-a-chip technologies (integrating one or several laboratory functions on a chip only millimeters in size) that enable healthcare practitioners to rapidly test for highly sensitive and specific biomarkers in tears at the point-of-care. Headquartered in San Diego, California and with offices in Milton, Ontario and Alpharetta, Georgia, TearLab's common shares trade on the NASDAQ Capital Market under the symbol 'TEAR' and on the Toronto Stock Exchange under the symbol 'TLB'. TearLab received the CE Mark for its TearLab(tm) Osmolarity System in 2008. The TearLab(tm) Test for DED is currently available in the U.S. for investigational use only.
Forward-Looking Statements
This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about the Company. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our Forms 10-K and 10-Q. We do not undertake to update any forward-looking statements.