Decision Diagnostics Corp (DECN)

[cvinvestor]

Several of the SEC's arguments of "proof" of false or misleading quotes can be answered and contradicted by quotes from the very same series of PRs. Will compile a few later today.

But for those interested, SEC paragraph 16 states as evidence against the company that the image of the promotional picture of the COVID-19 test kit looks like the meter used for pets.

Well, that's because it will look like it. The company stated in a March 4 PR that they finalized their PRECISE meter in February and along with an adapter that can be used with the GenViro strips, it will eliminate the need to sanitize or sterilize the meter between test strip uses. It is the development of this meter that the company referred to several times would take months off the normal development cycle because the meter was already in place and the design/look of the meter for pets and GenUltimate are similar. The Image in the SEC filing from the company's PR is not deceptive.
Image

Also, the SEC filing claims the company mislead investors with PR about Pre-EUA filing and getting a number as being equal to having received FDA approval, yet even in the PRs right before suspension, the company clearly states that they are in the process of FDA EUA review. Sure, take a sentence or phrase out of context or only read a few words and anyone can be mislead or misinformed, but the company initially, throughout and just before suspension made it clear there were proceeding through the process of EUA review and hoped for/expected approval.

Certainly on the SEC's 2 points above, a "not guilty" ruling should be easy as there is ample evidence.

Oh, and the argument about GenViro being put forth as a "product" on the company's website? Go check, it hasn't changed. The SEC's reference to the home page of the website is not under products, it is under "UPDATES" and the GenViro image links to the powerpoint that talks about the development and not available for sale. Click on the company's website menu for "PRODUCTS" and you won't find GenViro listed. So, for this, you suspend a company?

Sounds like someone at the SEC needs to take some time to really investigate with an open mind. The SEC filing to me is the result of an overly aggressive and possibly premature decision to suspend the company, in part fueled by false information fed to the company from the outside and what they filed as evidence is anything they could find to support that decision in retrospect because the arguments about the product image and website don't hold water from a normal, neutral purview of the information.