CNS Response, provider of a reference data and analytic tools platform for medical professionals, today announced it has filed a preliminary prospectus with the securities regulatory authorities in Canada to commence efforts for a public offering in each of the Canada provinces, other than Quebec.
The offering will be conducted simultaneously on American exchanges if the company files a registration statement with the U.S. Securities and Exchange Commission.
CNS noted that Paradigm Capital, Inc. and Mackie Research Capital Corp. will act as placement agents in Canada, and Paradigm Capital U.S. Inc., Noble Financial Capital Markets and Mackie Research USA Inc. will act as placement agents in the United States, in connection with the offering.
In its most recent 10Q filing, the company reported operating losses of $1.5 million for the quarter ended March 31, 2011, compared to a loss of $1.4 million for the comparable quarter of 2010.
CNS said it expects to report net losses over the next couple years as the company allocates its capital resources and efforts on boosting its commercial organization, research and product development and other commercial purposes. Research and development includes the completion of clinical trials to determine efficacy of its PEER Reports technology; enhancements of its database and PEER Reports process; and the identification of new medications.
For more information visit www.sedar.com