Medical device manufacturer Medigard (ASX:MGZ) has retracted revenue forecasts over recently-signed US manufacturing deals after discussions with the ASIC.
The company had on May 26 stated that the manufacturing and distribution deals could potentially deliver up to US$40 million ($43.6 million) in revenue within five years.
But these statements have now been retracted, with the company warning investors not to make any trading activities on the strength of them.
In a statement, Medigard said it acknoledged that “statements regarding the proposed revenue...can only be made on a reasonable basis, and if required, be verified by an independent expert.”
The statement added that Medigard is “not presently in a position to provide a statement in this regard.”