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OptiCare 10-K Delayed
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Business New Haven
4/30/2001
By: BNH
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WATERBURY - OptiCare Health Systems Inc. (AMEX: OPT) April 20 announced that the filing of its Form 10-K for the year ended December 31 would be delayed. This delay relates to the additional time required to properly account for the discontinued operations treatment of the previously announced pending sale of its Connecticut operations, the company said. The company also said that its accounting treatment is appropriate and consistent with generally accepted accounting principles and its Form 10-K will be filed as soon as reasonably practicable.
In addition, OptiCare announced that Norman Drubner had tendered his resignation from the board of directors effective February 23. Immediately prior to and in connection with Drubner's resignation, the board voted to reduce its size from five members to three.
OptiCare is an integrated eye-care services company focused on managed care and professional eye care services. It provides systems, including Internet-based software solutions, to eye-care professionals.
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