InvestorsHub Logo

Harry von Zell

11/19/09 4:00 PM

#88298 RE: Codesters #88291

Here's the Yahoo Post :

http://www.marketwire.com/press-release/Xtend-Medical-Corporation-1079308.html

XTend Medical Corporation (XMDC) Discusses Corporate Structure

SUN VALLEY, CA -- (Marketwire) -- 11/19/09 -- XTend Medical (PINKSHEETS: XMDC), 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.