Revenues continue to tumble for computer-aided detection (CAD) firm Medipattern, which reported a decrease of 66% in its fiscal 2012 second quarter (end December-31).
The company reported total revenues of $7,477 for the second quarter. Six-month revenues declined to $13,981, a 75% drop from the $55,173 reported for the same period the previous year.
Subscription rental fees accounted for all revenue for the six-month period ended December 31, 2011.
The company reported a net profit of $525,392 for the second quarter, the result of a fair value, noncash gain on embedded conversion options in convertible notes.
As of February 28, 2012, Medipattern estimated its working capital at $1.05 million.
