CMRO news Comarco Improves Balance Sheet Throug

LAKE FOREST, Calif., July 26, 2012 /PRNewswire/ -- Comarco, Inc. (OTC: CMRO.PK) announced today that it has reached a mutually satisfactory resolution of a dispute with EDAC, a supplier of the now discontinued Manhattan product, ending the litigation between the two companies. The settlement involved no cash payments by either of the parties, but allows the Company to remove a significant liability from its balance sheet. The effect on Comarco of the settlement is a reduction of approximately $1.9 million, or 39%, in its liabilities and an approximately $500,000, or 13%, reduction in its receivables resulting in a net increase of approximately $1.4 million in Comarco's shareholder equity.

"We are very pleased to have this litigation behind us," said Tom Lanni, the Company's President and CEO. "This settlement is an important step forward in the rebuilding of Comarco's financial strength and positioning the Company for future growth. In addition to continuing our efforts to improve the Company's financial condition, we remain focused on moving forward with our growth strategies to build shareholder value by capitalizing on the sizable potential market for our innovative, patented ChargeSource^® products."