LOS ANGELES , Sept. 26, 2012 /PRNewswire/ -- BG Medical Technologies, Inc. (OTC: RIGH), has announced financial and operating results for first and second quarters of 2012, ending June 30, 2012 .

"It is now time to resume communications, process the name and symbol change, and move forward with BG Medical's corporate strategy," reports CEO, Angel Stanz . "We have are pleased to announce that we have achieved significant progress in renegotiating undesirable agreements entered into by previous management of the public entity. The runway is now clear for liftoff."

Mr. Stanz continued, "During the first two quarters of 2012, we placed significant focus on securing shareholder value and business interests, working to establish a firm foundation for success. This required deep exploration of actions that occurred prior to BG Medical's management and the reverse merger. We have remediated thousands of dollars in liability, nullified burdensome contracts, and expect to resolve all significant debt within the organization in short order without further increases to share structure."

The company will soon return to Limited Information Status with OTC Markets. Following this change, the attorney letter will be submitted to return the Company status to Current Information Status. Financial submissions are expected to continue in a timely fashion, thereby maintaining good standing. Company plans to perform a full audit are scheduled to begin prior to year's end.

Additional public statements and clarifications will follow in the upcoming month.