"he meant by "perfected techology" the technology they were using in the diabetes testing"
1. The SEC doesn't have to "read through all the PRs and interpret(ed) them in context" in order to justify a suspension. They have no such obligation. A single inaccurate, misleading statement would be adequate. They don't suspend based on the "gist" of a statement or the sum of a series of statements.
2. The headline of the March 3 releases was "DECN Jumps into Screening and Testing Channel For Coronavirus (COVID19) Using Its Innovative Impedance Technology First Implemented In Its GenUltimate TBG". Sounds like its about CoVid to me. How would it matter if he was saying that the CoVid device was using the glucose testing technology if it hadn't been shown that the technology worked in (let alone was perfected in) or was even employed in the CoVid device, a device that doesn't seem to have existed at that point?
3. re: "I think twice he mentions 2019 as the year in which they perfected it, which could not have been a reference to COVID" The year 2019 isn't mentioned once, let alone twice.
I don't think this requires further examination. The SEC didn't feel that the claims made on March 3rd met the accuracy or adequacy standards given that the device still hadn't been tested on April 23rd."
If a Petition to Terminate the Suspension is filed by the Company we'll see what else the Commission staff was working with when they made their decision. I'd be very surprised if they didn't have more judging by the recent response to another company's petition...the SEC does not take the decision to suspend lightly.
The words as the Company wrote them: "LOS ANGELES, CA / ACCESSWIRE / March 3, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) is an 18-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ("Sunshine") diabetes test strip, its GenAccord! systems for the uninsured and under-insured, its GenChoice! ("Ladybug") test strip now in the later stages of FDA 510(k) prosecution, and its GenUltimate Precis products manufactured for International markets.
Today, in a break-through discussed for the first time, DECN announces in this first of three releases, expected in the next 10 days, the introduction of our new screening methodology for the Coronavirus (Covid19). Our product is timely, simple to use, cost effective and will be commercial ready in the summer of 2020.
Keith Berman, CEO of DECN commented, "We have the technology perfected which will take months off of the development schedule. Our impedance powered diagnostic will be field tested at ground-zero in Daegu, Korea, where 700+ people have already been overcome by Coronavirus (COVID19) and where all of the clinical studies for our "Gen" products were tested. Our timing here is spot-on."
News 
Market Data 
Discover 
AI
