Healthnostics Announces Special Stock Distribution
BETHESDA, Md., Feb 27, 2007 (BUSINESS WIRE) -- Healthnostics, Inc. (OTC:HNST), a medical and bioscience analytics company, announced a special restricted stock distribution of one share of Healthnostics' common stock for each ten (10) shares of Healthnostics common stock held by shareholders of record as of March 12, 2007. The Special Stock Distribution will be executed as soon as practical after the record date. All shares distributed will be in certificate form only and will bear a restrictive legend under Rule 144 of the Securities Act of 1933. A further update on specifics of the Special Stock Distribution will be forthcoming prior to the record date.
"Healthnostics is poised for an exciting 2007 and beyond. We are thankful for our loyal shareholders whose long-term support and belief in our ambitious mission is appreciated. This Special Stock Distribution is one way for us to reward those shareholders," said Alan Grofe, president.
Additionally, on March 8, 2007, Healthnostics will effect a capital structure change whereby all account holders with less than 100 shares per account will have their shares cancelled and exchanged for cash at $.026 per share. This price is based upon Healthnostics' closing bid price on February 26, 2007. These account holders will not be eligible to receive the Special Stock Distribution shares. A transmittal letter from Healthnostics transfer agent, Continental Stock Transfer & Trust Company, will provide instructions for those account holders whose shares will be cancelled.
Please note: Account holders with 100 shares or greater will receive the Special Stock Distribution shares as described.
We have elected to undertake the capital structure change in order to more effectively serve the majority of our shareholders and efficiently execute the Special Stock Distribution. Further, it will substantially reduce upcoming costs associated with the pending spin-off of MedBioWeb Corp., our subsidiary that is currently in registration with the Securities and Exchange Commission.
About Healthnostics
Healthnostics, Inc. is a medical and bioscience analytics company that provides comprehensive patient clinical monitoring and risk management systems to acute care hospitals and utilizes its Internet portals to deliver medical and bioscience resource information to industry professionals as well as to the general public. Healthnostics' major products include: MedGuardian, a patient care monitoring and risk management system for hospitals that is fully Web-based; and through the MedBioWeb subsidiary, MedBioWorld(TM), one of the largest professional medical and bioscience directory resource and reference portal sites on the Internet, and FamilyMedicalNet, a companion consumer healthcare information portal.
For further information please visit Healthnostics www.healthnostics.com, MedBioWorld www.medbioworld.com, and FamilyMedicalNet www.familymedicalnet.com.
This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
SOURCE: Healthnostics, Inc.
CONTACT: SmallCapVoice.com
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Jason Pollack, 561-731-2215
Copyright Business Wire 2007
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KEYWORD: United States
North America
Maryland
INDUSTRY KEYWORD: Health
Biotechnology
Other Health
