LOS ANGELES, CA / ACCESSWIRE / June 15, 2015 / Decision Diagnostics Corp. (PINKSHEETS: DECN), the manufacturer, quality plan administrator and the exclusive worldwide sales, service and regulatory processes agent for the popular GenStrip(TM) 50, the FDA-cleared Green Alternative Glucose Test Strip, specifically designed to work with the market leading Johnson & Johnson's LifeScan OneTouch Ultra family of glucose testing meters, the most popular meter worldwide for diabetic use, announced today that on May 29, 2015, we completed an investment in special manufacturing equipment in Korea at the facilities of the company's second contract manufacturer.
This specialty manufacturing equipment, which will serve our product, business and growth interests now and into the future, was memorialized in a follow-up investment agreement with Alpha Capital Anstalt ("Alpha") on June 4, 2015, whereby Alpha purchased an 18-month, 15% OID derivative instrument in the amount of $275,000 from the company. Terms of this agreement with Alpha, call for a 15% OID with both redemption and conversion features and Warrants (for follow-on investment). The conversion feature set the conversion price as the closing price of the company's common stock on May 29, 2015 less $.025.
This release contains the Company's forward-looking statements which are or may be based on management's current expectations and assumptions as of June 14, 2015, regarding the Company's business and performance, its prospects, current factors, the economy and other future conditions and forecasts of future events, circumstances and results.
Decision Diagnostics Corp.
SOURCE: Decision Diagnostics Corp.