DECN Board Of Directors In Final Review Of Preliminary Financing Agreement For $4.75 Million Investment
LOS ANGELES, CA / ACCESSWIRE / September 13, 2018 / Decision Diagnostics Corp. (OTC PINK: DECN) is a 16 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 the clinical trial in process GenChoice! (“Ladybug”), the market ready PetSure! test strip for the diabetic testing of dogs and cats, and the panacea GenPrecis! (“Dragonfly”) diabetes testing system, ready for clinical trials.
Keith Berman, CEO of DECN, has begun extended negotiations with a Canadian hedge fund for a highly favorable financing offer as previously discussed in the most recent company Quarterly Report. The company foresees an investment of $4.75 million. However, DECN may agree to allow additional investment from the Fund so that the company can use the additional capital to gain a controlling interest in its Korean manufacturing and R&D partner.
The Fund and the Company have agreed to an additional 30 days to complete usual and customary due diligence and move forward. At the current time DECN does not believe the investment contemplated will be accepted as a part of its recent registration now in the concluding stages.
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 September 13, 2018, 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
Joanne Broeders (305) 340-1000
SOURCE: Decision Diagnostics Corp.https://www.accesswire.com/511869/DECN-Board-Of-Directors-In-Final-Review-Of-Preliminary-Financing-Agreement-For-475-Million-Investment