Heart Tronics Inc (HRTT)

[TechKim]

Signalife Provides Corporate Update
Tuesday February 26, 9:00 am ET


LOS ANGELES, Feb. 26 /PRNewswire-FirstCall/ -- Signalife, Inc. (Amex: SGN - News) -- through its President and Chief Executive Officer Dr. Lowell Harmison -- has just issued the following corporate update.


Signalife Products

Fidelity 1000 -- New Product

The Company has developed a modular solution to evaluate existing ECG devices by development of a module -- called the Fidelity 1000 -- that would effectively enable testing of the fidelity of ECG devices. Dr. Harmison commented: "We would like to provide scientific evidence regarding the ability of our devices to reproduce known ECG signals with the highest fidelity. We are building a database of important ECG wave shapes that can be used together with other publicly available databases for evaluation of our technology but also of other devices on the market." The Fidelity 1000 is expected to support and expand Signalife's footprint into the cardiovascular disease marketplace worldwide. Further, Dr. Harmison commented: "Much like the urgency of Y2K eight years ago, there is a movement toward assuring that all ECG machines of every kind will come into compliance with clinical standards issued by the AHA. Signalife's technologies are uniquely suited to do that, and the Company is moving to solve the problem."

Fidelity 100 -- Original 12-Lead Award Winning Product

The Company has completed upgrades and is now manufacturing upgraded units for outstanding orders for its FDA-cleared Fidelity 100. These upgrades have undergone vigorous evaluation and testing and do not modify the device. "We have made our device more congruent with the objectives across the health care industry, and expect to get even more attention in the marketplace than today."

Fidelity 200 -- Unique Non-Prescription Credit Card Heart Monitor

For the Fidelity 200, the Company has chosen its last group of product manufacturers, the schematics have been completed, the pre-launch has been started and many key steps will be completed in the next 30 days as the Company now enters final negotiations to acquire its call center to launch the HeartTempo(TM) Card, otherwise known as the Fidelity 200.

Fidelity 350 -- New Product

Signalife has developed a digital, mini-Holter monitor that incorporates the award-winning technologies of the Company. This device has the capability to record for 30 days, work on a fully wireless network, and be reduced to the size of a very small pager. In an era of socialized health care across Europe -- and a constant pressure of cost reduction in the United States -- this is a device "whose time has come" according to Dr. Harmison. The product is beyond prototype and is expected to be submitted to the FDA shortly.

Fidelity 400 -- Intra-Cardiac Monitor

Developed in conjunction with Cleveland Clinic, this important device -- unveiled at the Heart Rhythm Society Convention -- is in final performance evaluation and testing and is expected to be submitted to the FDA later this year. It is anticipated that this device will enable the acquisitions of new data and development of new approaches to electrophysiological studies of the heart that are performed in electrophysiological labs around the world.

Financing Partnership

Subsequent to entering into the $100 million contractual relationship with the Yorkville group of companies, Signalife has accessed less than $500,000 (five hundred thousand dollars) of its $100,000,000 line of credit. As Dr. Harmison remarked: "We are pleased with our relationship with Yorkville. The Yorkville companies have done everything according to the letter of the contract, and have been very supportive of Signalife. We anticipate accessing the Yorkville equity line from time to time, and only then will additional shares be issued to Yorkville. The Yorkville relationship is a breath of fresh air -- Yorkville is predictable, honorable and is very supportive of the Company's initiatives as reflected by its $100,000,000 contractual commitment and its staunch support of that commitment. Yorkville's staff has a keen level of sophistication regarding the massive worldwide markets for the Signalife technologies, and its support is important and appreciated by Signalife and its many partners." The Company intends to continue to utilize Yorkville as an investment bank as well as with regard to its existing contractual commitment on the $100 million SEDA.

Signalife Markets

In addition to the North American markets for Signalife products, the world is -- as Dr. Harmison remarks -- "becoming smaller." The CEO continued: "Not only have we begun manufacturing and delivery schedules for existing orders, but the Company has vigorously pursued and established product demand in Singapore, China, Indonesia, Western Europe, Eastern Europe, Korea and the United Kingdom." The Company believes that the worldwide markets are "explosive" (in the words of Dr. Harmison) and that this will be demonstrated in "the short, medium and long term," the CEO added.

About Signalife

Signalife, Inc. is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease.

Signalife is publicly traded on the American Stock Exchange under the symbol SGN. The website for the company is http://www.Signalife.com. Clear Data. Trusted Results.

Caution Regarding Forward-Looking Statements

Statements in this release that are not strictly historical are "forward- looking" statements. Forward-looking statements involve known and unknown risks, which may cause Signalife's actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to, failure to complete the development and introduction of heart monitoring and other biomedical devices incorporating Signalife's technology, failure to obtain federal or state regulatory approvals governing heart monitoring and other biomedical devices incorporating Signalife's technology, inability to obtain physician, patient or insurance acceptance of for heart monitoring and other biomedical incorporating Signalife's technology, and the unavailability of financing to complete management's plans and objectives, including the development of heart monitoring and other biomedical incorporating Signalife's technology. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Signalife's filings with the Securities and Exchange Commission.




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Source: Signalife, Inc.