June 30, 2009 / 2:00 PM / in 8 years

UPDATE 1-Adaltis says running out of capital, assessing options

* Says running out of monies to fund operations

* Says no agreements with investors have been reached

June 30 (Reuters) - Canada’s Adaltis Inc ADS.TO, which is seeking to raise money to fund operations, said it is running out of capital and assessing various alternatives, including a potential bankruptcy filing.

On June 22, the company secured an additional bridge loan of up to C$2 million from Victoria Square Ventures Inc, and said it was in discussions with certain parties for financing to ensure continuing operations beyond June.

“As of date, no agreements with potential investors have been reached nor is the corporation confident any additional financing will be available and the corporation is presently running out of monies to fund its operations,” Adaltis said in a statement.

The in vitro diagnostic products company also said it may not be able to continue as a going concern without raising additional financing. (Reporting by Ashutosh Joshi in Bangalore; Editing by Deepak Kannan)

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