Newcardio, Inc. (NWCI)

[H8ster]

Newcardio continues it's upward progress as results from the 3rd Quarter show.

1. Cash burn of $852,000 declined 43% as a result of the ongoing expense reduction initiative.

2. New Cardio has $1.0 million in cash, and has entered a $1.5 million line of credit from three current investors which becomes effective January 1. This liquidity and forecasted revenue can finance NWCI through 2011.

3. NewCardio reports that it continues to make progress toward securing strategic funding to accelerate development of CardioBip for remote ECG monitoring, and My3KG for heart attack detection in the hospital emergency department.

4. NewCardio has been invited by the FDA-affiliated Cardiac Safety Research Consortium (CSRC) to present QTinno performance in a blinded comparison with core laboratory results involving a recent Thorough QT study. The presentation is scheduled on December 9 at the FDA in Silver Springs, Maryland. NewCardio has not released this study’s outcome but management states that it is very pleased with the results and we are encouraged by NewCardio’s invitation to present at
this prominent forum.

5. The visibility and acceptance of automated ECG methodologies is gaining critical momentum. This is supported by the leading ECG core laboratory, which stated in November that customer inquiries into automated technologies are increasing and that it now offers an
automated solution. This is a significant change from this laboratory’s prior recommendationsagainst using automated technologies.