Decision Diagnostics Corp.
Under the Symbol:
DECN Discusses Propositions Received For Its GenUltimate TBG
Friday, June 7, 2019 8:55 AM
LOS ANGELES, CA / ACCESSWIRE / June 7, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) is a 17 year old, diabetes-focused bio-technology R&D 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, the internationally launched GenSure! ("Feather") diabetes test strip, and its GenChoice! ("Ladybug") test strip now under review for FDA 510K clearance. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system, and the GenUltimate! Test 4Pets test strip and Avantage! meter launched earlier in 2019, and the landmark GenUltimate! TBG ("Dragonfly") highly precise and outre' accurate diabetes testing system, launched yesterday June 6, 2019, in select off-shore markets. Today discusses the various types of interest, reflected in propositions made by third parties concerning its landmark GenUltimate! TBG.
Keith Berman, CEO of DECN explains, "To date we have received four propositions for our GenUltimate! TBG product. Three of the proposition were unsolicited. The fourth proposition was not solicited directly, but came from a party that would receive the best value in use of GenUltimate! TBG. We expect a fifth proposition on or about June 10, 2019 from an entity the company solicited directly."
Customers will have two paths to choose from with GenUltimate TBG. Customers can choose to use or again put to use their Lifescan Ultra meters with the GenUltimate TBG test strip, which remains 100% compatible with these meters, and as a result receive an up to 75% improvement in precision and accuracy of their blood glucose readings, making GenUltimate TBG the first major improvement in this venerable technology since 2008. Or the customer can opt to swap their J&J/Lifescan meter for our GenUltimate Precise meter, free of charge, and receive all of the features we have discussed in previous news. Our Powerpoint presentation and the important third party testing statistics, for GenUltimate TBG will be posted on www.decisiondiagnostics.co and www.pharmatechsolutions.co. The International packaging for GenUltimate TBG will be five language, English (side 1), Spanish, French, German, Portuguese (side 2).
Mr. Berman continued, "We have received a range of propositions thus far, all from entities much larger than ourselves. These propositions fall into three categories:
- A Transaction based on a cash investment wrapped into a multi-level royalty agreement (two such propositions) with the royalty agreement lasting 4-5 years, and in once case containing guaranteed minimum royalties
- A cash purchase of the technology along with its transfer to the proponent over a period of time
- A cash purchase of the company with a 5-year earn-out, with the acquirer taking immediate control
The company has thus far eliminated two of the propositions from consideration, by eliminating one of the two investment/royalty propositions and the proposition for a cash purchase of the company, which was based to a large degree on an earn-out. The proponents who have been eliminated were not asked to counter their previous propositions.
As stated previously, the company did solicit an additional proposition from a very well known international entity with tentacles throughout the medical device channels. The entity has graciously accepted. We expect to receive this proposition next week."
At the close of this discussion, DECN will then move on to other major topics of interest to our shareholders, other interested parties, and the investment community:
- Most recent update on our patent infringement suit against Johnson & Johnson and what we anticipate the short and medium term direction and anticipated outcomes to be (beginning the week of June 10).
- Update on our efforts in the Big Box market and the remarkable progress our sales and marketing agent Paragon has made in this channel.
Mr. Berman concluded this release, "The Board has listened to the statements of a small group of minority shareholders. We continue to believe it is foolhardy to leave 90 cents of every $1.00 on the table, primarily because we are just in the first 120 days of a 4 year technology plan. The Board is working for the same goal as the minority of our shareholders, which is the anticipated escalation in shareholder value. Should the company not receive an offer deemed to be acceptable, even from the entity we solicited, we will then counter two of these propositions we have received that do show promise. At that point our main criteria will be maximization of total dollars."
ABOUT DECISION DIAGNOSTICS CORP.
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $12 billion at-home testing market.
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of June 5, 2019, 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.
Keith Berman (805) 446-2973
SOURCE: Decision Diagnostics Corp.