VentriPoint Diagnostics Ltd (VPTDF)

[teq0904]

Sept 5 update
Attached is a news release announcing the closing of the first tranche $500,000 tranche of the $1,000,000 private placement we announced on August 15th. Here is some background.

1. While summer is not an ideal time to raise funds, we had a significant investor who wanted to take a position in the company at this time so we elected to go ahead with the private placement.
2. We will be filling out the private placement in the next few weeks to allow us to continue to develop the VMS3.0 with all its added features to improve work flow and much lower cost.
3. Our sales force is making good progress connecting to leading cardiology groups and we now have 12 groups (up from 5 announced a few weeks ago) working to order a VMS+, which is certified for sale in USA, Canada and Europe. The capital purchase process within a hospital continues to be time consuming with all the levels of sign-off. We expect to migrate to a per-use model with the VMS3.0 early next year and shorten the sales cycle significantly. Meanwhile we await the purchase orders and are ready to supply the VMS+ as soon as they arrive.
4. Surprisingly, we are also seeing a desire to use the 4D software-only product for research purposes.
5. A number of groups have also indicated they would like do clinical studies to show the value of the 4-chamber system (VMS+, 4D and VMS3.0) in routine echocardiography exams, as they believe the current approach is inadequate.

Thanks for your continued support as we make heart diagnostics and care selection better for children and adults worldwide.

Regards,

George Adams, PhD, ICD.D