Company Notifies Other Proposition Makers of Decisions, But Will Again Visit With 2016 Acquisition Hopeful
LOS ANGELES, CA / ACCESSWIRE / June 19, 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 landmark GenUltimate! TBG (“Dragonfly”) highly precise and outre’ accurate diabetes testing system, launched on June 6, 2019, in select off-shore markets.
Today the company announced that it has narrowed its strategic choices to two entities that provided proposed transactions for the company’s panacea product, GenUltimate! TBG. The two propositions being pursued are different from one another. The first proposition is for a measured exclusive license to GenUltimate! TBG. The second proposition is for the purchase of the GenUltimate! TBG product, intellectual property, know-how and the GenUltimate customer list.
Keith Berman, CEO of DECN commented, “The Board has chosen from a total of five propositions regarding our GenUltimate! TBG technology and product. The chosen propositions offer two distinct strategic paths. One proposition is from an entity that can immediately make use of the TBG product. We will look at this proposition as a cash flow model since its rich compensation calls for a handsome fee paid for certain exclusivity, longer term license fees and the adoption of our TBG technology within a legacy product line. The second entity is not quite as clear from a business standpoint, but it too is lucrative in that the entity is looking to acquire the GenUltimate! TBG technology, the chemistry and test strip technology, and the GenUltimate! customer list which numbers in the tens of thousands.”
Mr. Berman concluded, “Both of the propositions offer DECN certain business alternatives and advantages, and both need to be explored further. In fact, I plan to meet today with the first group in New York, and time permitting I also plan to meet with a group that we remain close to, that made a proposal to acquire a majority of the common stock in DECN in 2016. We also will schedule a meeting with the second group responsible for the second proposition shortly. We will inform all interested parties as we move closer to a transaction.”
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 18, 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.
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