SANTA ANA, Calif., May 7, 2001 (PRIMEZONE) -- Donner Corp. International, a broker/dealer specializing in investment banking, headquartered in Santa Ana, Calif., today issued a Speculative Buy Recommendation and initiated coverage on Coronado Industries, Inc. (OTCBB:CDIK), Fountain Hills, Arizona.
Coronado Industries has developed a patented, non-invasive treatment for glaucoma, which impacts an estimated 70 million people worldwide.
"Coronado's Pneumatic Trabeculoplasty (PNT) treatment system has received a CE mark from the European Commission, allowing it to be marketed throughout Europe," Donner said. "Coronado is moving forward to conduct a clinical study in the U.S. to support its 510(k) application to the U.S. Food and Drug Administration to allow marketing in America."
"What Coronado will bring to the worldwide marketplace is a completely revolutionary way to treat glaucoma, reducing, and, in some cases eliminating, the need for any other method of treatment," Donner said. "Its agreement with CIBA Vision, the eye care unit of Novartis (NYSE:NVS), a multi-billion dollar world leader in healthcare, for exclusive global licensing and distribution rights to the PNT treatment, is a major step in bringing the treatment to people suffering from this debilitating disease."
Glaucoma is a disease of the eye characterized by high pressure within the eye, hardening of the eyeball, and eventual partial or complete loss of vision. The two-minute, non-invasive treatment developed by Coronado has successfully lowered the intraocular pressure in 94 percent of the glaucoma patients treated with no adverse side effects reported.
Donner said it is also impressed with Coronado's management team, including Dr. Leo Bores, co-originator of the world-renowned Radial Keratotomy process, the laser surgical procedure used to decrease nearsightedness, who heads the Company's FDA compliance division.
"We believe Coronado Industries is highly undervalued considering the success of its new glaucoma treatment system, the huge market for this treatment, and the seminal agreement with CIBA Vision/Novartis. These factors indicate to us that Coronado Industries is well-positioned for upward movement," Donner concluded.
Copies of the Donner report on Coronado Industries are available at www.donnercorp.com.
Donner Corp. International is a member of the National Association of Securities Dealers, CRD 37702. Any information or opinion provided in this report/release does not solicit or make an offer to buy or sell any securities or any options, futures or other derivatives related to such securities herein. DCI and its affiliates may trade for their own accounts in any securities of the issuer or in related securities. DCI or its affiliates, directors, officers and employees, may have a long or short position in securities of the issuer or related investments. DCI or its affiliates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any entity mentioned in this report/release. This research report/release has been prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objective, financial situation, suitability and the particular need of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report/release and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall substantially. Accordingly, investors may receive back less than originally invested. Past performance is not indicative of future performance. Copyright 2001 DCI. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that DCI recently received 18,000 shares of CDIK common stock for payment of DCI's $5,000 due diligence fee and DCI will receive $2,500 per month from Coronado for services provided payable in an equivalent amount of CDIK restricted common stock.