ECGI Holdings Inc (ECGI)

[Potse]

Health Canada application, MedPac equity position.....

If the guidance in the quarterly report filed two weeks ago (April 15) is accurate, ECGI should be submitting the NowCardio application to Health Canada sometime within the next two months. Generally speaking, medical device applications in Canada usually get processed quicker than in the United States (weeks/months versus months)......

All research and development expenses incurred during the six months ended February 29, 2016, related to the continued development of our cardiac monitoring device which should be submitted to Health Canada for approval no later than June 2016.

Also quite interesting to note: It was disclosed in this 10-Q report that ECGI purchased a 32% equity position in MedPac Asia Pacific (the privately-held Australian firm that will distribute NowCardio in Australia and South East Asia), around the time that MedPac withdrew its default/demand notice......

The Company, in exchange for 4,000,000 common shares, valued at $200,000, acquired, on December 16, 2015, 200,000 trust units of Medpac Asia Pacific Unit Trust representing approximately 32.86% of the entity's voting units and thus has significant influence over the entity.