Sunrise Technologies Reduces Staff

FREMONT, Calif., Feb. 20 -- Sunrise Technologies International Inc. has laid off nearly all of its employees while it continues to search for new financing.

"We had to take this step in order to conserve what is left of our cash," said John Hendrick, president and CEO of Sunrise. "We are continuing discussions with funding sources. If we are successful, we plan to bring at least some of these employees back to Sunrise. If the company is not successful in obtaining new funding soon, we will be unable to continue our business operations."

Sunrise Technologies International Inc. is a refractive surgery company based in Fremont, Calif., that has developed holmium, YAG laser-based systems that use a patented process for shrinking collagen (known as the Sand process, after developer Bruce Sand) in correcting ophthalmic refractive conditions.