Brendan Technologies, Inc. (OTCBB: BDTE) filed its first annual Form 10-KSB for the year ended June 30, 2006 with the U.S. Securities and Exchange Commission, including audited financial statements and related disclosures concerning the Company’s results of operations and financial condition. The Form 10-KSB filing is the product of an intense 10-month effort since the Company went public through a reverse merger into a public entity on December 29, 2005.
“Having taken the step of becoming a public company last year this filing is an important milestone for Brendan Technologies,†said John R. Dunn, II, Ph.D., chairman and chief executive officer of Brendan Technologies. "Our decision to go public was fueled by management’s desire to capitalize on the public markets and take advantage of what we believe to be a lucrative and growing market for Brendan’s analytical software products. Industry reports lead us to believe the testing industry generates more than $100 billion in revenue each year globally to run tests for drug development, medical diagnostics and treatments and other related applications. Brendan’s focus on, and expertise in, the analytical segment of the market, we anticipate, will result in some excellent opportunities for the Company and its shareholders.â€
As a private company incorporated in 1997, Brendan Technologies has established relationships and a customer base using its lead analytical software product, StatLIA® for data analysis of immunoassays, with industry leaders such as Bio-Rad Laboratories, Inc., Johnson & Johnson, Biogen Idec, Eli Lilly, Merck, Johns Hopkins University, Centers for Disease Control, and the National Institute of Health. The Company expects to continue receiving ongoing revenue from its current customer base. Brendan Technologies’ near-term focus is to continue to generate revenue from selling its StatLIA product suite, complete the rewrite of its current software to a .NET platform with greater functionality to the end user, and expand its field base sales force.
About Brendan Technologies, Inc.
Brendan Technologies, a developer and marketer of innovative analytical software, is actively providing software solutions to improve the accuracy, quality control, workflow, and regulatory compliance of immunoassay testing in laboratories in the biopharmaceutical, clinical, research, veterinarian and agricultural industries. The Company’s customers, many of whom are Fortune 1000 organizations, represent some of the largest corporations in their respective fields. Brendan Technologies is currently redesigning and expanding its current product lineup to better capitalize on the growing demand of its target markets for more advanced software.