2008-04-04 22:38:53 -
- Focus Enhancements, Inc. (NASDAQ:FCSE), a worldwide leader in Ultra Wideband (UWB) wireless technology, video conversion and digital media products announced it filed its 10-K for the fiscal year-ended December 31, 2007 on March 28, 2008. In the 10-K, Burr, Pilger & Mayer LLP, the company's independent registered public accounting firm, included an explanatory paragraph in its 2007 audit report
on the company's financial statements relating to the uncertainty of the company's ability to continue as a going concern. Burr, Pilger & Mayer LLP included similar explanatory paragraph in its report for the year-ended December 31, 2006.
Nasdaq Marketplace Rules require Nasdaq-listed companies to publicly announce the receipt of an audit opinion containing a "going concern" qualification.
At December 31, 2007, Focus Enhancements reported cash equivalents plus available credit facilities of approximately $1.9 million. On February 14, 2008, the company restructured $11.5 million of debt and raised $9.3 million of additional working capital. Additionally, on March 4, 2008, the company secured a $6.5 million credit facility with Heritage Bank of Commerce, replacing its credit facility with Greater Bay Bank.
Safe Harbor Statement
Statements in this press release which are not historical, including statements regarding management's intentions, hopes, expectations, representations, plans or predictions about the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially are specified in the company's Form 10-K for the year ended December 31, 2007, as well as other filings with the SEC. These statements are based on information as of April 4, 2008 and the company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Lippert/Heilshorn & Assoc. for Focus Enhancements
Kirsten Chapman, 415-433-3777 (Investors)
kchapman@lhai.com 
