XMDC Responds to Investors on Trading Irregularities and Falling Stock Price
8:40a ET November 8, 2007 (Market Wire)
XTend Medical Corporation (PINKSHEETS: XMDC) has received many shareholder concerns on falling share prices for the past few weeks. As with many public companies we have no control in how trades ensue and markets are made for our securities. But we have established definite facts that there are certain unscrupulous individuals and companies that might be behind the manipulation of our stock prices. We will investigate and prosecute any individuals or companies found to be responsible.
"I would like to first state that the company has not entered into any financing such as a 504, 506, PIPE, or any other toxic financial arrangement. The company continues to make strides in their execution of the business plan. Over the past month we've secured several telehealth products, purchased a 25% interest in Medical Cost Management, entered into a Letter of Intent to purchase Castle Hill Retirement Village, signed a strategic relationship with EvRest to fund our sales efforts, and have pending appointments with several managed care companies. We've defined several Disease Management Programs that we will sell to managed care and have begun the process of marketing our products and services to individual patients in order to build up our assets in the company," stated Mr. Paul D. Lisenby, CEO of XTend Medical. Mr. Lisenby further adds, "While we have no control over what the market does in terms of price and trading, the company is in a very enviable position to capitalize on gaining contracts with major healthcare companies that will meet our projected revenues previously announced. The future of this company is bright and we will continue to seek acquisitions, bring in the newest telehealth products, and to work towards gaining a listing on AMEX or NASDAQ within a year."
