SPECTRASCIENCE INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this Report, or in our future filings with the SEC, in our press releases and in oral statements made with the approval of an authorized executive officer, the words or phrases "anticipates," "estimates," "expects," "will likely result," "projects," "believes," "intends," or similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We undertake no obligation to revise any forward-looking statements in order to reflect events or circumstances after the date of such statements. Readers are urged to carefully review and consider the various disclosures made by us in this Report and other reports we file with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. Such forward-looking statements are qualified in their entirety by the cautions and risk factors set forth in our Annual Report on Form 10-K covering the year ended December 31, 2008. Business SpectraScience, Inc. develops and manufactures innovative Laser Induced Fluorescence spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without removing tissue from the ...
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SPECTRASCIENCE INC Files SEC form 8-K, Unregistered Sale of Equity Securities, Financial Statements and Exhibits

Item 3.02 Unregistered Sales of Equity Securities. On October 31, 2009, SpectraScience, Inc. (the "Company") closed a private placement offering with certain accredited investors pursuant to which the Company sold an aggregate of 433,000 units at a price of $10.00 per unit for aggregate gross proceeds of $4,330,000. The units were sold between May 2009 and October 2009. The Company had previously announced that from May, 2009 to June, 2009, pursuant to this same private placement offering it had sold to accredited investors 53,000 units at a price of $10.00 per unit for aggregate gross proceeds of $530,000. Each unit consists of 50 shares of the Company's Series B Preferred Stock ("Preferred Stock") and 25 warrants to purchase one share of the Company's common stock at an exercise price of $0.30 per share. The warrants have a term of five years. Each share of Preferred Stock is convertible into one share of common stock, subject to certain adjustment in the event of merger, stock splits and other customary events, and provides an 8% cumulative dividend until conversion. Generally, the Preferred Stock may be converted at any time into shares of common stock and shall automatically be converted into common stock generally in the event that (i) the Company completes a Qualified Offering, or (ii) the underlying common stock may be sold pursuant to an effective registration statement or otherwise may be sold pursuant to exemption from registration and (iii) the average market price of the common stock is at least $0.20 for a period of 10 days prior to conversion and certain volume conditions are met. The Company will prepare and file with the Securities and Exchange Commission a registration statement covering the resale of the shares of common stock issuable upon conversion of the Preferred Stock and exercise of the warrants issued in the offering. The Company retained certain SEC registered broker/dealers and, members of the National Association of Securities...
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SpectraScience Engages European Contract Research Organization to Manage Clinical Trials

SAN DIEGO, Oct. 13 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE - News), a San Diego based medical device company, today announced that it has engaged Bielderman BVBA, an experienced European contract research organization to manage the clinical process for its Barrett's esophageal cancer application under trial at certain European locations. The trial results will be used in the Company's application to the Food and Drug Administration ("FDA") for use in the United States. Jim Hitchin, SpectraScience's CEO, commented, "The addition of esophageal screening to our portfolio is an important milestone for our Company and one that we think can create significant additional value for our customers. Our WavSTAT® Optical Biopsy platform can be leveraged with additional software applications, and the addition of an esophageal screening function, will allow for a greater return on hardware investment and, more importantly, can extend the level of care that physicians provide to their patients. To accelerate this process, we have engaged Bielderman to manage the data collection from European hospitals that currently have our WavSTAT Optical Biopsy System."Generally speaking, quality clinical studies are less expensive in Europe. Through its selection of Bielderman, SpectraScience is employing its strategy of obtaining international approval first and marketing its product in Europe while concurrently moving forward with an FDA submission for approval in the United States.SpectraScience holds...
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SpectraScience Awarded Japanese Patent 4361683 for Its Optical Biopsy Forceps System and Method of Sampling Tissue

SAN DIEGO, Oct. 7 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE - News), a San Diego based medical device company, today announced that it has been awarded Japanese Patent number 4361683 for its Optical Biopsy Forceps System and Method of Sampling Tissue. Jim Hitchin, SpectraScience's CEO, commented, "This patent is another important addition to our expanding intellectual property portfolio. We now have 60 issued or pending patents across our WavSTAT® Optical Biopsy and LUMA® Cervical Imaging System products and believe this is another important and critical component of our strategy to enhance the value of our business and benefit our shareholders."The invention provides for an optical lumen or lumens that are placed coaxially with the cutting jaws of a biopsy forcep. This allows for an optical reading to be taken from the exact same spot as a physical tissue sample. When used with the WavSTAT Optical Biopsy System, it becomes a diagnostic tool to detect pre-cancer and cancer as well as a therapeutic tool for removal of suspect tissue. If necessary, the fiber optic can be easily removed so that other tools such as a cytology brush can be inserted coaxially.Hitchin added, "We remain committed to the concept that accurate data acquisition and fast non-invasive diagnostic techniques are critical for earlier and more effective identification of normal, pre-cancerous or cancerous tissue. This is another SpectraScience invention that will make our screening devices more useful to ...
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SpectraScience Announces Results of Annual Shareholder Meeting

SAN DIEGO, Sept. 22 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE - News), a San Diego based medical device company, held its Annual Meeting of the Shareholders for the fiscal year ended 2008 at 9:00 am local time September 21, at the Del Mar Hilton in Del Mar, California. The business matters considered and acted upon at the meeting included (a) a vote to set the number of directors of the Company at six and election of six directors, and (b) amend the Company's Articles of Incorporation. Only shareholders of record at the close of business on August 14, 2009 were entitled to vote at the meeting. Approximately 87% of the shares eligible to vote were cast in the above-mentioned matters. Approximately 99% of the shares were voted in favor of setting the number of directors of the Company at six and electing the six nominated directors, and approximately 96% were voted in favor of amending the Articles of Incorporation.Also at the Annual Meeting, Jim Hitchin, President and Chief Executive Officer of SpectraScience, Inc., gave a presentation. Key highlights from the presentation included:Mr. Hitchin also discussed catalysts for the Company's growth moving forward, including: the growing and aging population; the increasing recognition of the value of testing as a way to improve health and reduce the overall costs of healthcare through early detection and prevention; the increasing access to tests that leverage advances in technology and cost efficiencies; the expanding role of diagn...
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SpectraScience Receives FDA Approval for Enhancements to WavSTAT(R) Optical Biopsy System

SAN DIEGO, Sept. 16 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE - News), a San Diego based medical device company, today announced that its application for premarket approval (PMA) relating to key enhancements of its WavSTAT platform technology has been approved by the Food and Drug Administration. The Company can now begin commercial distribution of the enhanced WavSTAT technology. Jim Hitchin, SpectraScience's' CEO said, "We are pleased to now be able to bring to market the most up-to-date, leading edge technology for use in cancer screening. The enhancements we have made to the WavSTAT will make it easier for physicians to use and will provide an even greater level of critical data in a screening environment."SpectraScience has filed for 60 patents worldwide on its WavSTAT Optical Biopsy and LUMA® Cervical Cancer Imaging Systems that are used to diagnose tissue to determine within seconds if it is normal, pre-cancerous, or cancerous. The WavSTAT and LUMA Systems are currently approved by the FDA for detecting pre-cancer and cancer in the colon and cervix, and an evaluation for detection of pre-cancers in the throat ("Barrett's esophagus") is being tested.Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that may cause SpectraS...
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SPECTRASCIENCE INC Financials

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SPECTRASCIENCE INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 4. Subsequent Events Subsequent events have been evaluated through August 14, 2009, the date the financial statements are filed with the Securities and Exchange Commission. Through that date, there were no events requiring disclosure, except for the sale to accredited investors of an additional 2,000,000 shares of Series B Convertible Preferred Stock, including Common Stock purchase warrants to stock, including Common Stock purchase warrants to purchase 1,000,000 shares at $0.30 per share. The Company received $400,000 gross proceeds from the sale, and net proceeds of $350,000 after payment of $48,000 in finders's fees. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this Report, or in our future filings with the SEC, in our press releases and in oral statements made with the approval of an authorized executive officer, the words or phrases "anticipates," "estimates," "expects," "will likely result," "projects," "believes," "intends," or similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We undertake no obligation to revise any forward-looking statements in order to reflect events or circumstances after the date of such statements. Readers are urged to carefull...
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SPECTRASCIENCE INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for SPECTRASCIENCE INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SPECTRASCIENCE INC 22-May-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only,...
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SPECTRASCIENCE INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this Report, or in our future filings with the SEC, in our press releases and in oral statements made with the approval of an authorized executive officer, the words or phrases "anticipates," "estimates," "expects," "will likely result," "projects," "believes," "intends," or similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We undertake no obligation to revise any forward-looking statements in order to reflect events or circumstances after the date of such statements. Readers are urged to carefully review and consider the various disclosures made by us in this Report and other reports we file with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. Such forward-looking statements are qualified in their entirety by the cautions and risk factors set forth in our Annual Report on Form 10-K covering the year ended December 31, 2008. Business SpectraScience, Inc. develops and manufactures innovative Laser Induced Fluorescence spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without removing tissue from the ...
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