XTend Medical Corporation (XMDC) Finalizes Asset Purchase With BioHarp, Korea
SUN VALLEY, CA--(Marketwire - 12/09/09) - XTend Medical, (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, today announced the company has completed and signed the asset purchase agreement with BioHarp, Korea.
The company released the following statement, "Mr. Lee, Mr. Friedman, and I are pleased to announce the completion of the asset purchase agreement between XTend Medical and BioHarp, Korea. The process took a little longer than anticipated but we're extremely excited to finalize this agreement and work together with Mr. Lee to begin the manufacturing, marketing, and sales of the BioHarp device. XTend Medical has an incredible asset that will insure the company's valuation moving forward. The device will, in our opinion, be known very soon as the premier medical diagnostic tool worldwide. We're thoroughly impressed with the team behind the BioHarp and are looking forward to a long lasting relationship. XTend Medical will move quickly to gain sales in Korea, China, Japan, and other countries that have expressed interest in the unit and to have a combined operation so our reach is global in nature. We anticipate the sales of the BioHarp to reach phenomenal numbers in the coming years," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
Mr. Lee, CEO of BioHarp, Korea, added, "I am extremely excited about the future of the BioHarp. Our team, combined with the management of XTend Medical, will insure the company's success. We look forward to working closely with Mr. Lisenby and Mr. Friedman as we begin the manufacturing and sales process globally and deploy the BioHarp to health organizations throughout the world."
XTend Medical Corporation (XMDC) Discusses Corporate Structure
SUN VALLEY, CA--(Marketwire - 11/19/09) - XTend Medical (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following statement regarding their corporate structure:
"We've had several email inquiries as to the company's corporate structure regarding the press release issued on November 18th in regards to the upcoming asset purchase and merger with BioHarp. Our current authorized share structure will not change in order to effectuate this transaction. Our current capital reserves are also sufficient to consummate the asset purchase. We have began the process of converting preferred shares into common shares in order to insure the integrity of the company as we move forward to gain a listing on a higher exchange. There will be no need to alter our authorized shares whatsoever. In addition, the potential of the company in the future would justify us maintaining our current share structure with no plans to reverse the stock. Mr. Friedman and I feel strongly enough about the BioHarp that we will be utilizing our equity in the company to finalize any shares issued for the transaction. As for any delays perceived, it is my responsibility as CEO of XTend to insure the company has taken the proper steps to insure our valuation is at the greatest and we adhere to all U.S. and international tax laws and regulations. The company will finalize any merger opportunities, now and in the future, in the proper manner so as to insure the future of the company is not placed in harms way," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
XTend Medical Corporation (XMDC) Moves Forward on Merger With BioHarp Korea
SUN VALLEY, CA and SEOUL, KOREA--(Marketwire - 11/18/09) - XTend Medical, (Pinksheets:XMDC -News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, today announced the company is in the final stages of completing the merger between XTend Medical Corporation and BioHarp, Korea.
The company issued the following statement: "We're proud to announce XTend has finished their meetings in Korea with BioHarp. While we originally intended to just merge operations, XTend feels it will be in the best interest to purchase the assets wherein the newly merged entity would own the BioHarp medical device in its entirety. This insures the company has sufficient assets for proper company valuation as we look to begin the process of moving to a higher exchange. As this will involve both securities and cash, it is imperative to properly investigate any tax implications or other fees that may have an affect on both companies to insure the company is following proper procedures for the regulatory agencies. We will consult with our corporate counsel and CPA to insure we protect the company and complete this with the proper documentation and approvals. Mr. Lee will be traveling to Los Angeles at the beginning of December to meet with us to discuss the operational aspects of the new entity as we move forward," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
XTend Medical Corporation (XMDC) Retains Carl Duncan, Esq., to Handle Company's Legal Strategy and Affairs
SUN VALLEY, CA--(Marketwire - 11/03/09) - XTend Medical Corporation (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, announced today the company has retained Mr. Carl Duncan, Esq., to become corporate counsel and to handle the filings necessary for the company to migrate to the OTC Bulletin Board trading market.
"We're extremely pleased that Mr. Duncan has agreed to serve as our independent corporate counsel and securities attorney to handle all of our legal strategies and affairs. He will also be handling all the filings necessary for XTend Medical to apply for a listing on the OTC Bulletin Board trading markets upon completion of our company's audited financials. Mr. Duncan has over 37 years' experience in corporate securities law and has represented more than 350 issuers in as many as 48 states concurrently and in an aggregate of 15 countries. Our continued work with Mr. Duncan will spearhead our proposed upcoming listing to the Bulletin Board will be done in accordance with all securities laws and his knowledge in international securities will also serve XTend well as we seek listings, in due course, on other capital markets globally," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
XTend Medical (XMDC) Updates Shareholders on Merger and Company's Progress
SUN VALLEY, CA--(Marketwire - 10/22/09) - XTend Medical (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following information regarding the company's progress on merger and company's progress:
"XTend would like to update our shareholders on our progress to date. Mr. Lee from BioHarp, Korea traveled to Los Angeles last weekend to meet with the executives of XTend. The meetings were very positive and included several aspects in the manufacturing process and the business model moving forward. I personally want to thank Mr. Lee for his dedication and efforts in moving the merger forward. The management of XTend will be traveling to Korea soon to meet with the executives of BioHarp, Korea to finalize the merger. We also intend to secure the manufacturing relationships Mr. Lee has worked on over the past months in order to fulfill our needs for the BioHarp unit. Mr. Lee has identified several major manufacturers that can handle the volume of devices we'll need to fulfill the commitments we expect over the next 6-12 months and having strategic manufacturing partners in Korea to work closely with the technical staff is imperative to the success of the company. While in Korea, XTend management will also be looking to secure a listing on the Korean Stock Exchange that will add to our shareholder base on a global basis and gain additional exposure for the company.
The combined efforts of the seasoned technical team in Korea with the management in the U.S. will insure that the BioHarp device will become the standard in medical diagnosis. Our intention is to market the product aggressively throughout Asia, the U.S. and Europe. To date, we've had over 7 inquiries from medical device companies looking to represent the BioHarp in 4 different countries globally. As we move forward, these opportunities will be explored and if they benefit the company, we will press forward on a working relationship.
As to the BioHarp unit itself, I would like to reiterate a few areas that make this device unique:
1. The BioHarp requires a pre-scan of the patient in order to get a baseline reading. This baseline reading is not based solely on a set of standards in the medical sector. These individualized baselines are established from the patient's own cellular makeup and further solidify how the BioHarp sets itself apart from any present of future competitors.
2. The BioHarp device is completely portable. Unlike CT Scanners and other large pieces of equipment that remain stationary, the BioHarp can travel to where the patients are. The unit is perfect for rural areas, battlefields, or other outlying areas that would benefit by having the BioHarp as part of their healthcare service.
3. BioHarp can be used to detect cellular inflammation in plants. Diseases in crops have risen dramatically over the years and the BioHarp can assist scientists in helping to determine the proper course of treatment in order to insure plants can sustain life. The global percussion in this area can be tremendous for the company.
4. The dedication Mr. Lee has spent on this device over the past 14 years is truly incredible. His vision for this device has proven instrumental in the development of the BioHarp. His technical staff has, and continues t, spend countless hours perfecting this product and we feel honored to become part of this exciting and truly unique product.
In closing, I would like to thank all of our shareholders for being patient as we close this merger. Mr. Lee and I have worked continuously over the past two years to insure you, as shareholders, will reap the benefits of being part of something we're very proud of. The future is very bright for this company and through hard work and dedication, the BioHarp will flourish and become the leading diagnostic device in the global medical community," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
XTend Medical (XMDC) Discusses BioHarp Market Potential and Revenue Model
SUN VALLEY, CA--(Marketwire - 10/12/09) - XTend Medical (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following information regarding the BioHarp market potential:
"As the company moves closer to completing the merger with BioHarp Korea, the management feels it is vital for our shareholders to understand the market potential and the revenue model of the BioHarp device. The BioHarp unit market potential stretches globally. There has been interest from several health departments globally to deploy the BioHarp to outlying village areas and major metropolitan healthcare clinics to utilize the BioHarp as an effective tool for pre-diagnosis on regular physical appointments. Since the BioHarp can travel anywhere with a laptop, the ability for these countries to deploy the unit to hard to get geographical areas allows these countries to scan the patient and choose the correct follow-up procedures that can save these countries millions of dollars in healthcare costs. These countries will use the five sensor unit and the software will be integrated into their respective national healthcare databases.
"In addition to the human markets, the BioHarp will be marketed to the pet and equine industries. The management at XTend has made several contacts with the veterinary market to utilize the BioHarp to scan dogs, cats, and other pets in order to discover potential harmful conditions that can be treated through nutrition and medications. The ability for the veterinarian to market this as an added service allows them to create an additional revenue stream as well as giving pet owners the ability to monitor their pet's health and hopefully alleviate costly procedures. The equine industry itself can be very lucrative for the company in the future. The management at XTend has several thoroughbred trainers and owners they have spoken with about utilizing the BioHarp as part of a daily routine for racehorses to insure their training and subsequent earnings potential is not compromised. As the BioHarp unit can be deployed to the stables, part of their post exercise routine would be for the trainer or vet to scan the horse upon completion of their workout or race and determine if there is any underlying inflammation that can lead to being sidelined, thereby eliminating the ability to earn money racing. This market alone is global in nature as there are literally hundreds of racetracks with thousands of horses, each representing a significant investment to their owners. The yearling sales at places like Keenland, wherein owners plunk down millions to own a potential Triple Crown winner, would benefit by having a BioHarp scanner available in order to scan potential champions to insure the fitness of the horse and to detect potential problems that could arise in the future. These scans would be done with the one sensor unit and would probably be sold and managed by our internal medical team at BioHarp UNI US. The potential trainers and owners would contract with us to scan the animals regularly; generating daily, weekly, and/or a monthly maintenance fee schedule for the company.
"The revenue model for the BioHarp comes from both the hardware and software sales. The single sensor unit will sell for $5,000 US dollars and the five sensor unit will be $30,000. The software will be sold on a license agreement wherein BioHarp UNI US will charge $19.99 per month per patient license, thereby creating a continued revenue stream once the unit hardware is sold. Naturally, if we have groups that are purchasing thousands of units, we will have a discount structure to these monthly fees. With the patient potential in the millions, our revenue model will be very strong and consistent for years to come.
"Lastly I would like to touch on our corporate structure and how we feel the share structure will be beneficial for all current and future shareholders of the company. We strongly feel that our Authorized shares at this time are sufficient to handle our merger and capital raise needs. We feel it would be disadvantageous to do any sort of reverse split due to the potential sales of the BioHarp unit in the coming years. If we realize our sales and marketing goals and hit our projected revenues based on the current inquiries we've received, the company's market cap will be substantial," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
Letter to Shareholders of XTend Medical (XMDC) From the CEO Regarding the Upcoming Merger With BioHarp, Korea
SUN VALLEY, CA--(Marketwire - 10/06/09) - XTend Medical (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following letter from the CEO, Mr. Paul D. Lisenby, regarding the upcoming merger with BioHarp, Korea and other corporate progress.
"To all XTend shareholders, I want to bring everyone up to date on the upcoming merger with BioHarp, Korea, and to share some insight into the future of the company. As you are aware from our most recent press release, we've decided to merge our company with BioHarp, Korea in order to have one of the most intriguing and cutting-edge medical devices to hit the healthcare industry in decades. The potential for this device to change the way patient diagnostics are currently being done is tremendous. The BioHarp is a non-invasive scanning device that can be used by a trained professional to scan the body to find cellular inflammation, utilizing nano bio-sensors. In layman's terms, whenever there is inflammation in the body on a cellular level, the potential for health issues can result. The BioHarp is a patent protected device that doesn't require any dyes or foreign fluid to be introduced into the body to attain a reading, or better yet, gives the patient results based on their individual body baseline. In short, this device can be used as an early diagnostic device by any country, healthcare company, managed care company, military, and in almost any other situation where an early diagnosis can assist in saving lives and lowering healthcare costs.
The work done by our management team with the principles at BioHarp, Korea, has taken us over two years to get to this point in our relationship wherein we feel comfortable merging with their organization and they feel the same way with us. Our hard work over the past three years in dealing with managed care companies, physician groups, and other healthcare organizations will prove to be most beneficial in securing future contracts for the BioHarp once the merger is complete. BioHarp, Korea has spent the last 14 years working on bringing the BioHarp unit to its current level of perfection and by combining our resources we gain solid management, premiere manufacturing, and the potential for a global company that will make BioHarp the most used medical device in early diagnosis.
There was a press release in February 2008, issued by Hathaway Corporation, announcing a joint venture with UNI Bio-Tech for the BioHarp device. As I was with the company at that time acting as the interim CEO, I knew the value of BioHarp. However, since the Board of Directors of Hathaway decided to change their business model to become FutureWorld Energy and focus their efforts on the renewable energy sector, the joint venture never took place and the deal was cancelled in April of 2008. My work with Hathaway has since stopped and for the last 18 months my sole responsibility has been to ensure XTend Medical brings value to our shareholders and puts itself in a position to capitalize on opportunities to grow the company. Through this merger, the company will become a global leader in the healthcare sector and it will be up to all of us here at XTend Medical and BioHarp, Korea to ensure that this happens.
Since the announcement of this merger, we have been working hard with Pink Sheets to become fully compliant with their reporting requirements. We should have this accomplished by week's end and hopefully have the Stop Sign removed from our company's profile. Our goal is to move up to a greater exchange due to the potential sales that we anticipate the BioHarp will be doing globally very soon. We are working with our accountant and legal teams to ensure that we have everything in order so the migration to a higher exchange can be accomplished at the proper time. Any changes we've recently made to the corporate structure are to effectuate this merger and any and all shares issued for this merger are subject to Rule 144 Restrictions. As we update Pink Sheets, the information will be there for all shareholders to review. We are in the process of updating our site and will share additional information about our progress in future press releases. In closing, I would like to thank all of our loyal shareholders for their dedication and for potential future shareholders; this company will be strong and have a very bright future for many years to come."
XTend Medical (XMDC) Signs Letter of Intent to Merge With BioHarp, Korea
SUN VALLEY, CA--(Marketwire - 10/01/09) - XTend Medical, (Pinksheets:XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, announced today the company has signed a Letter of Intent to Merge with BioHarp Korea, a division of Uni Bio-Tech, Inc, a Seoul, Korea based developer and manufacturer of medical imaging devices. Under the terms of the merger, BioHarp Korea will transfer all patents, software, assets, and proprietary information relating to the BioHarp Nano Sensor imaging device. Upon completion of the merger, the combined company will apply for a name change from XTend Medical to BioHarp Uni, US, and will effectuate a new trading symbol and cusip number. The share structure of the company will remain in effect with no changes anticipated.
BioHarp is a cutting-edge medical imaging device that utilizes a non-invasive approach to detect inflammation in the human body on a cellular level. The device uses a complex scanning program that deciphers inflammation in the body's organs through a bio-sensory system and allows early detection and diagnosis of potentially life threatening diseases. This hand-held diagnostic device is the first of its kind that can effectively scan the body and deliver a comprehensive report that can assist any physician in determining the proper course of treatment for patients in the EARLY STAGES of potentially life threatening diseases.
Unlike CT Scans, MRIs and other similar testing devices, the BioHarp penetrates to the cellular level to detect inflammation differences in the cells. The resulting scan of the body can detect early disease states such as diabetes, liver damage, and other organ problems that, when treated at this early stage, can assist managed care companies, physicians, and insurance companies in increasing morbidity rates and lowering health costs significantly.
The U.S. National Science Foundation has predicted that the market for nanotechnology, or products containing nanotechnology, will reach $1 trillion in 10 to 15 years. Rising medical costs, demands for less-invasive procedures and pressures for immediate feedback of medical conditions, all point to nanotechnology as offering a new approach in healthcare.
"The management at XTend has been working diligently on this merger for the past 9 months to insure we create a powerful opportunity for the company to have a clear manufacturing partner, cutting-edge medical device, and the market whereby we can sell this device globally to healthcare organizations and countries looking to detect early signs of diseases that will save lives and lessen costs associated with treating these diseases," stated Mr. Paul Lisenby, CEO of XTend Medical. Mr. Lisenby further states, "The BioHarp has gone through several revisions and is now ready to go into full production. The device is not only intended for humans, but the application has shown that animals can benefit from this technology as well. Our goal is to get this device into the hands of physicians, veterinarians, and other professionals that understand the technology can detect, on a molecular level, inflammation that can lead to serious health problems. We will market this product aggressively and have already been contacted by several countries in Asia and Europe that are interested in making the BioHarp part of their national healthcare program. We're very excited to work closely with the doctors and scientists associated with the BioHarp unit in Korea to continue to upgrade the unit for potential use by the general public. We expect to finalize this merger in the next thirty to sixty days."
The company is currently updating their website. www.xtendmedical.com.
XTend Medical (XMDC) Updates Shareholders on Company's Progress
SUN VALLEY, CA, Sept. 29 /PRNewswire-FirstCall/ - XTend Medical, (Pinksheets: XMDC - News), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following statement:
"The company has been repositioned over the last 8 months to capitalize on the expanding global health markets for telemedicine and telehealth devices that can deliver results in order for health organizations, managed care companies, physician groups, and evolving third-world countries to increase their ability to diagnose health conditions that can lead to costly treatments. We have been approached by several global companies to become partners and/or merge with their companies in order to capitalize on our past experiences in dealing with major healthcare organizations. As these potential candidates have expressed their desire to become part of XTend Medical, we will quickly move to strengthen the company and position ourselves as global leader in the telehealth and telemedicine solutions. As the company progresses on these matters, we will keep our shareholders abreast of our progress. We feel very strongly that the hard work we've done over the past 2 years has allowed us to be known globally as a company that can deliver defined solutions to the healthcare market. XTend Medical will focus on the most elite products and companies thereby creating tremendous shareholder value."
The company is currently updating their website. www.xtendmedical.com
