Advertisement
YOU ARE HERE: LAT HomeCollections

Briefly / Technology

October 10, 1998|(Barbara Marsh.)

AMDL Inc., a struggling Tustin developer of diagnostic tests for cancer, said Friday that it has only enough cash to operate for three months and hasn't lined up any new financing prospects. The company has lost $6.4 million in the last four years and generated revenue only one year--$400,000 in 1997. A spokesman said the company won't disclose how much cash is left. In recent months, the company has taken steps to cut expenses and manage its cash. Last summer, it halved salaries for its management team, cut directors' pay in half and laid off two of its 11 workers. AMDL also announced Friday that Chief Financial Officer Harry Berk resigned to run his own business in Arizona.

Advertisement
Los Angeles Times Articles
|
|
|