WESTPORT, CT / ACCESSWIRE / November 30, 2020 / Solos Endoscopy, Inc. (OTC PINK:SNDY) is pleased to announce that as of December 1, 2020, the Company will have effectuated its capital restructuring and will have changed its name to CYduct Diagnostics, Inc. The Board of Directors and majority shareholder have approved this amendment to the Company's certificate of incorporation as a means to reposition the Company to be more attractive for investors and to better reflect its future prospects and value.
FINRA has notified the Company that its name change and the one-for-two hundred and fifty (1-for-250) reverse split of its Common Stock , par value $0.001 per share, will become effective on December 1, 2020, and its Common Stock will begin trading on a split-adjusted basis when the market opens on December 1, 2020 under the symbol "SNDYD" and with a new CUSIP number. The Company will not issue fractional shares of its Common Stock in the reverse split; rather, each fractional share would be "rounded up" to one whole share. After 20 days the Company intends to obtain a new stock symbol that better aligns with its new name.
The Company's transfer agent, Pacific Stock Transfer, is acting as the exchange agent for the reverse stock split. Pacific Stock Transfer will provide instructions to shareholders of record regarding the exchange of stock certificates. Shareholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares.
CYduct Diagnostics is a medical device company pursuing innovations within the women's healthcare market, primarily breast healthcare and wellness. CYduct will look to improve breast health and wellness through a new testing method that would prioritize clinical integrity and patient privacy and convenience. CYduct will look to provide a first of its kind, comprehensive technology platform that includes evidence-based personalized breast health risk assessment testing. "The technology that CYduct is pursuing would enable a physician, for the first time, in a clinical setting to easily record and analyze breast disease biomarkers. Such an analysis of the individualized mammary duct microenvironment chemistry would be a game-changer. It would provide physicians with the means to deliver personalized breast health care at its earliest possibility, enhancing the lives of millions of women", stated Dominick Gatto, the Company's Chief Executive Officer.
"The re-branding of the Company to CYduct Diagnostics will further establish our commitment to helping the millions of women within the breast healthcare market," said Gatto.
About CYduct Diagnostics, Inc.: CYduct Diagnostics Inc. is a medical device company pursuing innovations within the women's healthcare market, primarily breast healthcare and wellness. CYduct is focused on breast health and wellness through new testing methods that prioritize clinical integrity and patient privacy and convenience. The Company's history is rooted in providing quality medical products to healthcare market across the United States. For more than 30 years, from medical schools to hospitals, physicians have relied on the Company to develop medical devices, and procedural techniques for the screening, diagnosis, treatment and management of disease and medical conditions. Additional information on its line of products will be available on the Company's website at: www.cyductdx.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding the potential future plans and objectives of the Company, are forward-looking statements that involve significant risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The inability to raise additional capital, and technical complications in research, product development and validation, among other things, could prevent the implementation of strategically significant plan(s) outlined above. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Report filing and other filings with the OTC Markets Group (available at www.otcmarkets.com). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
CYduct Diagnostics, Inc.
SOURCE: Solos Endoscopy, Inc.