Letter to Shareholders of XTend Medical From the CEO Regarding the Upcoming Merger With BioHarp Korea
SUN VALLEY, CA--(Marketwire - October 06, 2009) -
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"To all XTend shareholders, I want to bring everyone up to date on the upcoming merger with BioHarp, Korea, and to share some insight into the future of the company. As you are aware from our most recent press release, we've decided to merge our company with BioHarp, Korea in order to have one of the most intriguing and cutting-edge medical devices to hit the healthcare industry in decades. The potential for this device to change the way patient diagnostics are currently being done is tremendous. The BioHarp is a non-invasive scanning device that can be used by a trained professional to scan the body to find cellular inflammation, utilizing nano bio-sensors. In layman's terms, whenever there is inflammation in the body on a cellular level, the potential for health issues can result. The BioHarp is a patent protected device that doesn't require any dyes or foreign fluid to be introduced into the body to attain a reading, or better yet, gives the patient results based on their individual body baseline. In short, this device can be used as an early diagnostic device by any country, healthcare company, managed care company, military, and in almost any other situation where an early diagnosis can assist in saving lives and lowering healthcare costs.
The work done by our management team with the principles at BioHarp, Korea, has taken us over two years to get to this point in our relationship wherein we feel comfortable merging with their organization and they feel the same way with us. Our hard work over the past three years in dealing with managed care companies, physician groups, and other healthcare organizations will prove to be most beneficial in securing future contracts for the BioHarp once the merger is complete. BioHarp, Korea has spent the last 14 years working on bringing the BioHarp unit to its current level of perfection and by combining our resources we gain solid management, premiere manufacturing, and the potential for a global company that will make BioHarp the most used medical device in early diagnosis.
There was a press release in February 2008, issued by Hathaway Corporation, announcing a joint venture with UNI Bio-Tech for the BioHarp device. As I was with the company at that time acting as the interim CEO, I knew the value of BioHarp. However, since the Board of Directors of Hathaway decided to change their business model to become FutureWorld Energy and focus their efforts on the renewable energy sector, the joint venture never took place and the deal was cancelled in April of 2008. My work with Hathaway has since stopped and for the last 18 months my sole responsibility has been to ensure XTend Medical brings value to our shareholders and puts itself in a position to capitalize on opportunities to grow the company. Through this merger, the company will become a global leader in the healthcare sector and it will be up to all of us here at XTend Medical and BioHarp, Korea to ensure that this happens.
Since the announcement of this merger, we have been working hard with Pink Sheets to become fully compliant with their reporting requirements. We should have this accomplished by week's end and hopefully have the Stop Sign removed from our company's profile. Our goal is to move up to a greater exchange due to the potential sales that we anticipate the BioHarp will be doing globally very soon. We are working with our accountant and legal teams to ensure that we have everything in order so the migration to a higher exchange can be accomplished at the proper time. Any changes we've recently made to the corporate structure are to effectuate this merger and any and all shares issued for this merger are subject to Rule 144 Restrictions. As we update Pink Sheets, the information will be there for all shareholders to review. We are in the process of updating our site and will share additional information about our progress in future press releases. In closing, I would like to thank all of our loyal shareholders for their dedication and for potential future shareholders; this company will be strong and have a very bright future for many years to come."
About XTend Medical
XTend Medical is a company that specializes in the manufacturing and distribution of the latest in telemedicine and telehealth solutions for the healthcare industry. Their dedication to ensuring the products and services offered to healthcare organizations, third-world countries, and physician groups are at the forefront of medical technology. Their continued efforts in identifying global companies with true product potential in the healthcare industry puts them in an advantageous position to capitalize on a global basis. For further information, please contact them at info@xtendmedical.com
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