Healthnostics Update on Key Projects
04 Maggio 2012 - 3:27PM
Marketwired
Healthnostics, Inc. (PINKSHEETS: HNSS) is providing the following
update on its key projects.
MicroFill In July 2011, Depository Trust Company placed a chill
on Healthnostics' stock. This was done without notice or
explanation, and HNSS commenced legal activity to determine the
cause and reverse the decision. Recent litigation by other
companies has succeeded in compelling DTC to provide explanations
and recourse for its actions, and HNSS is now aggressively pursuing
that path. Brokerages use DTC to clear stock trades, but not
exclusively. As a result the DTC action has not impeded daily
trading in HNSS, but it has prevented the Company from completing
contracts that involved payment in stock. Specifically, the DTC
action has prevented the Company from completing its capital
intensive projects to build its planned MicroFill machine. Once the
DTC matter is resolved, or other capital options are secured, the
MicroFill roll-out will resume, or, in the alternative, the Company
may consider selling the technology.
Crowdfunding Meanwhile, the Company continues to pursue less
capital intensive opportunities to create value for its
shareholders, including the recently announced Crowdfunding
platform that will tap into the new JOBS Act opportunity. The JOBS
Act is the most revolutionary change to securities law since 1934,
and HNSS, having initiated development last fall, is uniquely
situated to offer entrepreneurs access to capital markets.
Special Distribution On April 4, 2012, the Company announced a
Special Distribution in agreement with InternetArray, Inc.
(PINKSHEETS: INAR), whereby Healthnostics shareholders of record on
April 30, 2012 (later extended to May 10, 2012) will receive one
share of INAR for every three shares of HNSS stock held. The
distribution date for the Special Distribution of the INAR shares
is May 31, 2012. An added benefit to HNSS shareholders in the
Special Distribution was announced by InternetArray on April 10,
2012, when its Board of Directors authorized the company to file
Form S-1 registration statements to spin-off its wholly-owned
subsidiaries BidSellBuy, Inc., and Premier Gold Traders, Inc., for
the benefit of its shareholders. As such, HNSS shareholders
receiving the Special Distribution shares will also receive stock
in each of those spin-offs. It is expected that these will operate
as fully-reporting companies listed on the Over the Counter
Bulletin Board ("OTCBB").
This press release may contain certain statements that are not
descriptions of historical information, but are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Exchange Act of 1934. These
forward-looking statements refer to matters that involve risks and
uncertainties. Such statements reflect management's current views
and are based on certain assumptions. Actual results could differ
materially from the assumptions currently anticipated.
Contact: Healthnostics, Inc. Investor Relations Email
Contact
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