SOURCE: BIOLASE Technology, Inc.

BIOLASE Technology, Inc.

October 18, 2010 09:00 ET

BIOLASE Announces Compliance With Nasdaq Minimum Stockholders' Equity Requirement

IRVINE, CA--(Marketwire - October 18, 2010) - BIOLASE Technology, Inc. (NASDAQ: BLTI), the world's leading dental laser company, announced today that it has regained compliance with the minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market. On October 15, 2010, the Company received formal notification from the Nasdaq Listing Qualifications Department that it has regained compliance as set forth in Nasdaq Listing Rules 5550(b)(1), or 5550(b)(2), or 5550(b)(3), and that Nasdaq now considers this compliance issue closed.

Federico Pignatelli, Chairman and CEO, commented, "I am very pleased that the Regulatory Body of Nasdaq has cleared BIOLASE for continuing its listing on the Exchange. We are completing the last phase of the radical restructuring of the Company's business based on the new direct and multi distributor sales model, rather than the exclusive distribution agreement with Henry Schein (NASDAQ: HSIC). This new sales model now allows us independently to leverage the entire North American marketplace as well as most major international territories for high tech laser dental equipment. With the critical support of the Nasdaq listing, we are successfully concentrated on BIOLASE's renewed revenue growth and rapid return to profitability."

About BIOLASE Technology, Inc.
BIOLASE Technology, Inc., the world's leading dental laser company, is a medical technology company that develops, manufactures and markets lasers and related products focused on technologies that advance the practice of dentistry and medicine. The Company's products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. Other products under development address ophthalmology and other medical and consumer markets.

For updates and information on laser and Waterlase dentistry, find BIOLASE at http://www.biolase.com, Twitter at http://twitter.com/GoWaterlase, and YouTube at http://www.youtube.com/user/Rossca08.

This press release may contain forward-looking statements within the meaning of safe harbor provided by the Securities Reform Act of 1995 that are based on the current expectations and estimates by our management. These forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," and variations of these words or similar expressions. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks, uncertainties and other factors which may cause the Company's actual results to differ materially from the statements contained herein, and are described in the Company's reports it files with the Securities and Exchange Commission, including its annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and we undertake no obligation to update such statements.

Contact Information

  • For further information, please contact:
    Jill Bertotti (investors)
    Len Hall (media)
    Allen & Caron
    +1-949-474-4300