LOS ANGELES, CA / ACCESSWIRE / September 15, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) through its subsidiary Pharma Tech Solutions, Inc. the manufacturers and design specifiers for the :10.5 GenViro! Professional Swift Kit for testing Covid-19 testing, today announced that it has entered into agreement with a major investor for a six month 8% Promissory Note. Principal and interest will be due and payable in six months.
Separately the company has announced that six existing Promissory Notes with the same investor have been extended for an additional four (4) months each. The new Note and the previous Notes are for payment of principal and interest only. No conversion rights are included. The company had previously announced that the GenViro! Swift kit will be available for sale on September 26, 2020 in select International venues.
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 $15+ billion at-home testing market. The company's new GenViro!TM product designed to test for the Coronavirus Covid-19, is not yet available in the United States or Puerto Rico but Emergency Waivers remain in process. The company has signed a distribution agreement covering ten (1) International nations in Asia and is in later stage negotiations with a Russian Federation partner, a partner in the EU, and a potential partner in Africa.
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of September 14, 2020, 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.
SOURCE: Decision Diagnostics Corp.