DECN Awaits Major Proposition On Or About June 10, Notifies Two Entities That Their Earlier Propositions Do Not Meet Requirements, Does Not Request Counter-Proposals
LOS ANGELES, CA / ACCESSWIRE / June 6, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) is a 17 year old, diabetes-focused bio-technology R&D firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! (“Sunshine”) diabetes test strip, the internationally launched GenSure! (“Feather”) diabetes test strip, and its GenChoice! (“Ladybug”) test strip now under review for FDA 510K clearance. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system, and the GenUltimate! Test 4Pets test strip and Avantage! meter launched earlier in 2019, and the panacea GenUltimate! TBG (“Dragonfly”) highly precise and outre’ accurate diabetes testing system, launched today June 6, 2019, in select off-shore markets.
Keith Berman, CEO of DECN commented on today’s news, “Over the weekend we received a fourth unsolicited proposition for a strategic transaction involving our GenUltimate! TBG system. This fourth proposition, in some ways the richest received thus far, came unexpectedly from an entity that at first study cannot make full use of our technology in their current business. We will inquire about this issue in the coming days. We also await a solicited proposition, graciously agreed to by an International entity, and due on or about June 10.”
The company reminds shareholders, interested parties and investors that often other companies forward offers or proposals, or perhaps describe partnerships, and even might threaten a target company such as DECN, for their own accounts. To that end, the company has turned down two earlier propositions from larger entities and has not requested counter proposals. Propositions that passed the company’s initial reviews fall into a certain transaction category, as will the solicited proposition due on or about June 10.
Mr. Berman continued, “Today we launch our GenUltimate TBG system into select markets in the Middle East, portions of South America and India. Our International packaging can be found on our www.decisiondiagnostics.co and www.pharatechsolutions.co web sites, which will shortly be augmented by a Powerpoint presentation that details all of the particulars concerning the product. In addition the company has engaged Private Equity Markets (www.privateequitymarkets.us) to carry our product information and updates. Next week we plan to discuss the J&J lawsuit as we await a court date from the Court of Appeals for the Federal Circuit.”
Mr. Berman concluded, “As we have stated, we have a full summer ahead of us. In addition to the topics and issues we have discussed in the past several weeks, we also plan to adapt the TBG technology to our GenChoice test strip, completing that project, and then watching the effect it will have on another major industry player. The Board is keeping our options open as our journey progresses.”
ABOUT DECISION DIAGNOSTICS CORP.
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN’s products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $12 billion at-home testing market.
This release contains the company’s forward-looking statements which are based on management’s current expectations and assumptions as of June 5, 2019, regarding the company’s business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
SOURCE: Decision Diagnostics Corp.
View source version on accesswire.com: