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Vette - the reverse split was not approved and you can find that in the SEC filings. So no reverse split is good news as far as I'm concerned. I couldn't find any info on Medite stock being publicly traded anywhere so that may be part of the reason they are going with the Cytocore name. Not to mention all the patents are in the Cytocore name.
Regardless of the ridiculous and unfounded rah rah continuously posted by IslandTrader, this actually is good news.
McCullough and cronies are giving up management and control to a company that has been around since 1978 and actually makes a profit.
I searched hard last night until I finally found a news story which confirmed that the CEO position will be filled by the Medite people ... Michael Ott will be President and COO and his wife (oddly Michaela) will be CEO. It's clear that Michael will be running the show. McCullough will be CFO and hopefully will be under close scrutiny.
Since CytoCore is "buying" Medite with 80% of their shares, obviously what is really happening is the new corporate structure for some reason wants the CytoCore name, and the CytoCore insiders are willing to give up control for the chance to finally make some money.
The math suggests that what's actually happening is Medite is willing to give up 20% to obtain the CytoCore name and properties. I think I prefer this to the flip side of the acquisition where our CytoCore stock would be have been converted to some (now eternally) undefined equivalent of Medite stock.
For those of us with substantial holdings in CytoCore, this may finally rekindle our long diminishing hopes for the CytoCore patent.
I'm going to guess that this deal effectively kills the latest proposed reverse split. As I sit it doesn't make any sense to do anything which would further dilute CytoCore stock ... which another reverse split would unquestionably have done. With an all stock purchase, it only makes sense to try to boost the value of the stock, not drive it down yet again.
http://www.bizjournals.com/orlando/news/2014/01/13/cytocore-to-acquire-orlandos-medite.html
I've been in even longer then that! It's payday!
You sure got that right. Been holding a longtime !! Over a yr.
You know it! We have been waiting for this to materialize for some time now!
Looking good !! Bring it on , Baby !!
China Sales - Medite Group already is in place in China selling medical supplies. This is huge! IMO
News
21.08.13 00:00
MEDITE Signs Strategic Agreement to Deliver Digital Pathology and Quality Control Solution to China
Category: News
~MEDITE Joins UNIC Technologies in Key Alliance to Expand China’s Pathology Market ~
Orlando, FL August 21, 2013 – MEDITE Inc., a leading developer of innovative, high-quality equipment and supplies for histology, pathology and cytology laboratories, today announced that it has entered into a strategic alliance agreement with UNIC Technologies, a Chinese manufacturer of pathology scanners and tele-pathology services, to develop and deliver a full digital pathology and quality control solution for the Chinese market.
Under the terms of the agreement, effective August 15, 2013, MEDITE and UNIC have agreed to collaborative marketing, sales, engineering, technical development and commercialization of MEDITE’s pathology processing instruments in China under the National Digital Pathology and Quality Control (QC) project, which is funded by the central government in China.
In addition, MEDITE has been officially added to the China Association of Pathology Equipment (“CAPE”) as the primary provider of processing instruments and will be a key contributor in defining quality control procedures and criteria, as well as making the related industry standards in China.
“We are delighted to have been successful in positioning MEDITE in this high profile, key alliance with UNIC. This agreement provides a foundation that will enable MEDITE and UNIC to lead the digital pathology market in China, with the potential of making MEDITE the top process instruments brand in China, while supporting UNIC’s initiative to complete the QC project successfully and setting the standards for digital pathology in the future,” said Michaela Ott, co-president of MEDITE Group.“
The digital pathology market in China is currently in itsearly adoption phase and expected to become the largest market in the world due to the population and government’s support for this initiative. Our team has developed a comprehensive product line of histology systems and supplies, and we look forward to collaborating with UNIC on this program as it is a tremendous step forward in MEDITE’s growth strategy.”
“Digital pathology is forcing process instrument and scanner companies to collaborate, so we are delighted to partner with MEDITE, giving us a distinct advantage over the competition as its products are known for quality, performance and value-added pricicing,” commented Ben Zheng, President of UNIC Technologies. “Our scanners are considered the best brand name in China, so coupled with our unparalleled resources, market knowledge and access, together, we will be able to deliver the highest quality process instruments to the Chinese market.”
In early September, MEDITE and UNIC are expected to officially launch the program at the CAPE event in Beijing. Through an initial series of marketing promotions and awareness activities, MEDITE will be positioned as the primary histopathology process instrument brand in China and the standard of choice in the pathology quality control project, with equipment and supplies delivered to all training centers national wide. Going forward, MEDITE and UNIC will closely collaborate on slide quality control and training. Moreover, UNIC is well positioned to establish the standards for digital pathology quality control.
In addition to the strategic alliance, MEDITE and UNIC also have agreed to consider the establishment of a joint venture to commercially market and sell products in China following the successful completion of the QC project. UNIC will be exclusively licensed to market and sell MEDITE’s histology systems and supplies in China.
About MEDITE Inc.
MEDITE Inc., a wholly-owned subsidiary of Burgdorf, Germany-based MEDITE® Group, is dedicated to serving customers in Europe, the U.S., Canada and Mexico. Since 1978, MEDITE® Group has specialized on the development, manufacture and distribution of medical laboratory equipment and supplies for pathology, histology and cytology. For these fields, the Company offers a complete range of devices and consumables. MEDITE Group currently sells into 70 countries and is the market leader in Germany. Through CytoGlobe, a wholly owned subsidiary, MEDITE offers a full range of products for Cytology labs, specifically liquid based cytology supplies and instruments. Additional information on MEDITE’s products and services can be found at www.medite-group.com.
About UNIC
UNIC Technologies is an industry leader in integrated digital pathology solutions, which include pathology imaging solution enabling greater access for pathologists through industry-leading whole-slide-scanners, pathology network solution enabling remote, real-time viewing and easy distribution of images for collaboration, as well as pathology image analysis solution that provide pathologists with easy-to-use quantitative image analysis to improve clinical and research productivity, reproducibility and consistency. Striving to advance cancer diagnostics to improve patients’ lives , UNIC Technologies is expanding its capability in pathology processing with MEDITE providing a market-leading comprehensive product range for each step in the pathology process, from sample preparation and staining to reporting. UNIC Technologies is represented in all over China and other Asian countries. Further information can be found at www.unictech.com.
Contact Information:
EVC Group
Investor Contact:
Doug Sherk, 415-652-9100
Michael Polyviou, 212-850-6020
Media Contact:
Janine McCargo, 646-688-0425
<- Back to: Your full-range supplier for histology, cytology and pathology
Frogger..
Cant reply to your pm
Regarding the 13D hard to tell if that is good or bad.. Shows the money trail tho.
JMO
3 Insiders control the majority of this company! Very low float with a real FDA patent and a company that can manufacture and distribute it world wide! Explosive!!!!
CYOE 122K VOLUME 10 DAY AVG_149K .0569
Has made a nice move off .02 area
Only 20,000 MM shares up to .28! Super thin!!!!
Level II is on fire! This could be trading at .28 in no time!!!! IMO
Up n dn like a YoYo ! Love all the post.
Sounds good. Viva the Italians.
This is a lot different than the normal reverse split. Normally they are just diluting over and over. In this case the insiders of the company are taking control of 80% of the outstanding shares. There are many reasons companies will dilute and there is only one reason why they want to take control of ownership! This will be launching very soon and we will all be rewarded! IMO!
They hardly ever make it back to the same equivalent price . Good luck.
They hardly ever make it back to the same equivalent price . Good luck.
It was a CHARGEBACK done on service not rendered by Russell Rockefeller. There was NO stolen credit card use what so ever.
The person who posted the post should be charged with slander.
This is from CYOE's latest public releases -
http://ih.advfn.com/p.php?pid=nmona&article=58174895
Principal Effects of the Reverse Stock Split
A reverse stock split refers to a reduction in the number of outstanding shares of a class of a corporation's capital stock, which may be accomplished, as in this case, by reclassifying and combining all of our outstanding shares of Common Stock into a proportionately smaller number of shares. For example, a stockholder holding 10,000 shares of Common Stock before the reverse stock split would instead hold 1,000 shares of Common Stock immediately after the reverse stock split. Each stockholder's proportionate ownership of outstanding shares of Common Stock would remain the same, subject to adjustments in connection with rounding up fractional shares. All shares of Common Stock will remain validly issued, fully paid and non-assessable.
Anybody heard about the R/S split coming. Got a form from TradeKing. Says it won't reduce the share price or the O/S. Something wrong with that.
1 Million shares on the bid! That is a first! Good things are coming very soon!
80%+ INSIDE OWNERSHIP - IF THEY WANT TO OWN 80% OF THIS COMPANY SOMETHING IS UP! SOMETHING BIG HAS TO BE HAPPENING HERE! IMO
Beneficial Ownership of OUR Common Stock
The following table sets forth certain information, as of June 3, 2013 with respect to holdings of our common stock by (i) each person known by us to be the beneficial owner of more than 5% of the total number of shares of common stock outstanding as of such date, (ii) each of our directors and executive officers, and (iii) all directors and executive officers as a group. Except as otherwise indicated, the address of each person is c/o CytoCore, Inc., 414 N. Orleans Street, Suite 510, Chicago, Illinois 60610.
Name and Address of Beneficial Owner Amount and Nature
of Beneficial
Ownership (1)
Percentage
of Class (1)
Robert F. McCullough 167,690,706 (2) 66.90 %
Augusto Ocana 9,090,836 3.63 %
Mauro Scimia
5,959,750 2.38 %
Xavier Carbonell 6,569,823 2.62 %
John H. Abeles, M.D. 4,063,098 (3) 1.62 %
Richard A. Domanik, Ph.D. 172,272 (4) *
Alexander M. Milley 4,652,950 (5) 1.86 %
All officers and directors as a group (7 persons) 198,199,435 79.07 %
____________________________
162,500,000 HUGE INSIDER TRANSACTION:
http://ih.advfn.com/p.php?pid=nmona&article=57692123
Inside Ownership:
Tight Float and inside purchases and ownership:
http://ih.advfn.com/p.php?pid=nmona&article=52930384
http://ih.advfn.com/p.php?pid=nmona&article=51545088
http://ih.advfn.com/p.php?pid=nmona&article=51545032
The above post is an outright lie.
Google Russell Rockefeller and you'll see he's known for posting lies.
http://www.google.com/#hl=en&sclient=psy-ab&q=Russell+Rockefeller&oq=Russell+Rockefeller&gs_l=hp.3..0j0i30l3.1859.17734.0.18469.23.14.0.0.0.0.3219.5672.4-1j2j1j9-1.5.0.les%3Bcrnk_timediscountb..0.0...1.1.4.psy-ab.WANaFh0H3z0&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&bvm=bv.42661473,d.aWM&fp=b3359863b85606b5&biw=800&bih=510
over three years now
How long have you been tracking this one? I have been for a while now. Really in the penny world 78 Million o/s is really not too bad. They haven't really given much insight into the overseas sales they are making of another companies product.
they doubled the float since the last time and it hit over .12 without news.
It is in worse shape this time on the fins and needs to sell shares too make the bills now.
Good luck.
Last time without news we hit .08! It's just a matter of time before we get the real run! IMO
No news in weeks???
Insiders are buying up shares and the float is very tight. Two new Italian board members and new sales overseas. These are very impressive guys with medical device sales experience. Neomed also holds a huge chunk of CYOE in their porftolio. http://neomed.net/portfolio/ .88 soon IMO
Tell us why plse !!
CYOE Chart: http://stockcharts.com/h-sc/ui?s=cyoe
Yes, I believe it will easily hit the .88!
going up nicely. rally will continue
I am scared this will keep falling, and no one wants to catch a falling knife. These pumpers can sure draw people in with their bag of tricks, this is so sad. I wonder how many grandmas got caught in the trap?
where did all these sellers come from, the l2 is looking uglier than some of these pump posters lol
yes it might go to .0088 your right about that. I think the pump is over.
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Executive Summary
MEDITE Cancer Diagnostics, Inc ® (MDIT)
MEDITE® Group is a medical technology company specializing in the development, engineering, manufacturing and marketing of premium medical devices and consumables for detection, risk assessment and diagnosis of cancer and related diseases. MEDITE is poised to become a disruptive force from rapid revenue and market share growth resulting from the introduction of major innovative products in the multibillion dollar global histology and cytology cancer detection marketplace. Depending upon the type of cancer, segments within the current target market of approximately $5.8 billion are growing at annual rates between 10 and 30%. MEDITE anticipates significant growth in revenue and earnings over the next years from several growth trajectories.
Cancer is a major threat for mankind and the recently published “World Cancer Report 2014” by the World Health Organization, states that the number of cases will increase by about 57% to 22 million cases in the next two decades. At the same time cancer deaths will rise from 8.2 million to 13 million per year.
MEDITE’s current and future products will assist in the early diagnoses of cancer with superior sensitivity for detecting precancerous and cancerous conditions and provide the basis for more efficient and cost effective treatment through superior specificity which eliminates unnecessary tests and treatment for benign conditions originally suspected as precancerous or cancerous. The net effect of utilizing MEDITE’s anatomic pathology (tissue based) and cytology (cell based) products will result in more lives saved at lower costs.
The first avenue of growth is the recent launch of new products and the development of highly innovative new products expected to launch in the next few years. The second represents several new initiatives including our joint venture with UNIC Medical of China along with recently executed distribution contracts in the US, Europe and China. The third is the eventual impact from the recent merger transaction with CytoCore (CYOE), a 14 year old venture stage American public company with significant new scientific advances in cervical and breast cancer biomarker and screening technology which are synergistic with MEDITE’s existing product lines.
First half revenue growth of 32% to a record $5.9 million and operating profit of nearly half a million over 4 times the amount of operating profit for the first six months of 2013 reflects the initial success of MEDITE’s strategy. Since historically 35 to 40% of annual sales occur during the fourth quarter, revenue and profitability for 2014 should accelerate during the latter part of 2014. In addition, the combination of the two companies has resulted in significant costs savings, including relocation of the headquarters to Orlando, Florida and relocation of CytoCore’s Chicago research lab.
Since the current management team purchased MEDITE 8 years ago, the company has been focused on the development of new products while maintaining profitability. With first time access to the public capital markets facilitated by the CytoCore merger, Medite along with its partner, UNIC of China expect to expedite the automation of Chinese anatomic pathology laboratory and cytology systems by completing development of MEDITE’s patented “Lab-In-One” automated system in tandem with the implementation of UNIC’s proven digitization technology for the imaging of tissue biopsy and cell samples. By utilizing MEDITE’s coveted German engineered current and future anatomic pathology and cytology products, UNIC expects to become the first and only company in China with the complete anatomic pathology lab solutions covering slide processing, digitizing and imaging, image analysis, tele-pathology, as well as lab management. UNIC is the founder of the China Association of Pathology Equipment which aims to standardize the lab processes and procedures in China including technician training and continuous education services. This process mandated in China because there are only 200 qualified pathologists for 1.4 billion people with 20,000 hospitals and about 500 new labs being opened every year could become a world standard as “more is done with less” through the results of uniform automation, and digitization utilizing MEDITE’s equipment and consumables such as stains and biomarkers.
Medite has recently received the first successful Chinese FDA registration on two microtome models and is expecting to receive registration on all other equipment within the next weeks.
MEDITE’s patented computer controlled LAB-IN-ONE-System provides a solution to address the increasing demand for anatomic pathology labs as discussed in the latest US laboratory industry journal “CAP TODAY” (August 2014 edition). The market is demanding the following: “more systems are needed to link processing and embedding with robotics …” or statements like “So I can’t take a cassette and put it on an instrument at the beginning and have it come out as a slide at the end” are typical for lab managers all over the world. MEDITE’s proprietary and patented Histo-Revolution concept is going even beyond these wishes: the complete process from the unprocessed tissue up to the stained and coverslipped slide is automated.
As a one stop supplier for anatomic pathology laboratories and its existing business as one of the most experienced supplier in the field of Liquid-Based-Cytology MEDITE’s product line covers the complete laboratory process from the tissue biopsy or the cells to the finished microscopic slide. MEDITE is currently distributing into 70+ countries with the US, China and Europe being its primary growth markets.
In the US market MEDITE recently executed several distribution contracts. General anatomic pathology product non-exclusive contracts with major multi-billion dollar health care product suppliers and direct contracts with three of the largest Hospital Group Purchasing Organizations: HealthTrust, Premier and Magnet. For the cytology product line MEDITE executed contracts with a major US anatomic pathology company. One of these products is already selling very successfully in accordance with an OEM agreement very successfully. All MEDITE products will eventually be sold in accordance with these agreements.
MEDITE is hopeful that sales of CytoCore’s biomarkers for Breast and Cervical Cancers will be launched in 2015 of which modest sales are projected for 2015 and 2016. CytoCore’s believes its proprietary biomarkers and imaging technology developed over the last few years could conceivably detect incidences of cancer currently not detected in today’s multibillion cancer market. These biomarkers could also reduce healthcare cost by eliminating unnecessary testing procedures involving false suspected incidences of cancer. CytoCore’s Breast Cancer “risk evaluation” process using its biomarkers addresses a need for Breast Cancer evaluation for women between the ages of 20 to 40 years old. Self-evaluation is the primary method for Breast Cancer detection for women in this age group. Worldwide, 12.5% or one in eight women are expected to get Breast Cancer during their lifetime.
MEDITE employs over 70 people between the recently relocated worldwide headquarters in Orlando, Florida and the German manufacturing and R&D facility. MEDITE is a well-known innovator in the industry based on the development of the first programmable Multistainer, first three piece Embedding Center and world’s fastest Glass-Coverslipper-Combination System. It is holding and has applied for several patents which it believes have the potential to have a major impact on the anatomic pathology and cytology industry. Chief Executive Officer Michaela Ott and Chief Operating Officer Michael Ott currently own approximately 74% of the combined company. Robert McCullough former CEO and CFO of CytoCore Inc. is Chief Financial Officer. Mr. McCullough recently converted a $3.2 million personal loan to Cytocore into CytoCore’s stock at $.02 per share. In addition, as a condition of the merger all of CytoCore’s employees including Drs. Jolley and Domanik converted the majority of their unpaid wages accrued during the prior four plus years into CytoCore stock at $.02 per share.
Contact:
Michaela Ott, Chief Executive Officer, email: michaela.ott@medite-group.com
Michael Ott, MBA, Chief Operating Officer, email: michael.ott@medite-group.com
Robert F. McCullough, Chief Financial Officer, email: rmccullough@medite-group.com
MEDITE Enterprise Inc., 4203 SW 34th Street, Orlando, FL 32811, USA
Phone +1 407 996 9630, Fax +1 407 996 9631
Company Website: http://medite-group.com/
Company 2015 Presentation: http://medite-group.com/wp-content/uploads/2015/05/MDIT-Company-Presentation-5-27-2015.pdf
Investor FAQ: http://medite-group.com/investors/faq/
Q? How many shares of MEDITE are outstanding?
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