The company is now headed by MR STEVEN FOX He is readily available and quite willing to answer any questions that he can as long as they are in the parameters of the law.He is doing all he can at this time to get the company uprighted and under a full head of steam as quickly as possible.here is another post from the company
Press Release Source: WayPoint Biomedical, Inc.
WayPoint Biomedical Announces Corporate Restructuring and Updates Regarding Operating Activities
Tuesday May 8, 5:29 pm ET
HUNTINGTON BEACH, Calif., May 8 /PRNewswire-FirstCall/ -- WayPoint Biomedical, Inc., a subsidiary of WayPoint Biomedical Holdings, Inc. (OTC: WYPH - News) is announcing the following corporate restructuring directives, along with updates regarding previously announced operating plans and initiatives.
Over the past year the Company has been involved in on-going litigation to prosecute several previous consultants and market makers who allegedly defrauded both the Company and its legitimate investors through an alleged illegal "Pump and Dump" scheme. This will be the first of several announcements to be posted over the next several weeks, whereby the Company will explain the nature of the litigation, the parties involved, and the current status/outcomes, as determined by the courts. In addition, WayPoint will also share the strategic focus and direction that the Company is now pursuing, which has not yet been announced to the public due to the nature of the litigation.
Management Structure Announcements
In the fourth quarter of last year the following actions took place. Mr. Dennis Shepherd resigned from his position as CEO, Director and Corporate Secretary for WayPoint Biomedical, Inc. and WayPoint Biomedical Holdings, Inc. Mr. Steven Fox accepted the position as the new CEO and Director of both entities. Mr. Phill Richer was promoted to the position of Vice President of Sales and Marketing and Director. In addition, Corporate Controller, Richard Schonfeld, took over the duties as corporate Secretary and Treasurer.
Updates on Previous Announcements
* The partially completed auditing and registration process that would
enable WayPoint Biomedical Holdings, Inc. to trade on the OTC:BB
exchange was temporarily halted, due to share count discrepancies
related to the litigation.
* The WayPoint and Global Informatics smart card based electronic
medical records joint venture, World Wide Medical Systems, LLC is no
longer in-force due to the initially secured WayPoint funding being
withdrawn. Although the JV no longer exists, a WayPoint agent is
still actively seeking new sources of funding for this venture.
* Distributor or Broker agreements with Martin Schwanz in Canada, LJP
Marketing in Las Vegas, NV, Women's Safety Education Group in Olympia,
WA, and Euro-American Marketing in Scottsdale, AZ, were cancelled due
to nonperformance and/or payment issues.
* After a second LOI extension allowing WayPoint to further investigate
the opportunity, the decision was made to not enter into a
distribution/licensing agreement with System Two for their
Frontline® Explosive Detection Kits for the Homeland Security market
sector.
* After signing an LOI with Arben Biosciences and investigating the
opportunity, it was decided that WayPoint would not market and
distribute Arben's Simplicity(TM) "No-Step" Pregnancy Test(TM).
* Due to capability limitations caused by the Company's current
litigation, the introduction of WayPoint's Clinical and
Over-the-Counter Drugs of Abuse Tests has been temporarily been put on
hold until further notice.
About WayPoint Biomedical Holdings, Inc.:
