BEVERLY HILLS, Calif., Sept. 28, 2012 /PRNewswire/ -- Eaton Scientific Systems, Ltd. ("Eaton" or the "Company") a wholly owned subsidiary of Pristine Solutions, Inc. (OTCQB: PRTN) is pleased to provide this update on the current business and growth strategy of the Company.
Eaton CEO, Mr. Michael Borkowski stated "Our Company was founded in 2005 in Los Angeles, CA to develop and effectuate a commercialization of Tropine 3, its novel indication of the drug homatropine in an oral suspension formula to treat hot flashes in peri-menopausal, menopausal and post-menopausal women. This remains our goal and total focus."
Mr. Borkowski went on to provide these relevant facts about Eaton.
"Our Company has acquired the USPTO Patent Application and as of today September 28, 2012 delivered its response to the USPTO Examiner through its Santa Monica, CA based law firm Cislo &Thomas, P.C.
"Our Company has just received a $500,000 three (3) year loan with an annual interest rate of 6% from our Ch airman, founder a co-author of its USPTO Patent Applications. The monies will be used to prosecute its intellectual property, fund the Phase I-II Clinical Trial and associated regulatory fees and working capital."
"Our Company has completed its Clinical Trial Protocol as of September 28, 2012 and the Company expects to submit its Protocol to the Institutional Review Board ("IRB"). An institutional review board (IRB), also known as an independent ethics committee or ethical review board, is a committee that has been formally designated to approve, monitor, and review biomedical and behavioral research involving humans. Once the IRB clears the Trial the Company expects to submit the Trial to the FDA and thenproceed forward with the Trial."
"Our Company has put together a team of outstanding professionals in their respective profession. I continue to believe that we are quite fortunate to have the dedication of Clinical Trial Management professional Dr. David Stark and internationally renowned medical expert of women's health Dr. Jennifer Berman. When we decided to enter into a reverse merger we were looking to be able to attract capital to our Company and provide liquidity to our investors that would not be available to them in a private company. To date the only investors in Eaton have been either principals in the Company and or management since its inception in 2006."
Mr. Borkowski concluded by saying that "the Company will file and 8K by October 5, 2012 that will add to the information that I have provided here in this statement. I would like to refer our currentshareholders and any future shareholders to read the independent analyst report by 2nd Opinion Stock Research and released on September 12, 2012 where it gave a good overview of our business and noted that we are pre-revenue like many bio-techs and that an investment in our Company should be considered a "high-risk high-reward investment".
About Pristine Solutions, Inc.
Pristine Solutions, Inc., through its wholly-owned subsidiary company, Eaton Scientific Systems, Inc., holds the intellectual property and global marketing rights to Tropine 3, a patent pending novel indication of an existing FDA approved drug for the non-hormonal treatment of hot flashes in pre-menopausal, peri-menopausal, and post-menopausal women.
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Pristine Solutions' actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Pristine Solutions' filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Pristine Solutions herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Pristine Solutions disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE Eaton Scientific Systems, Ltd.