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Posted On: 03/31/2017 7:49:04 AM
Post# of 11802
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DECN-"The company entered into two international agreements in the latter part of 2016. The first agreement,
executed through the company’s exclusive Korean agent, allows for delivery of the GenUltimate! product in quantity
to the Korean market. As of this writing, the Korean partners have ordered and paid for over 40,000 pieces (units) of
GenUltimate! Another almost 20,000 pieces (units) are on order for April 2017. The company’s second international
agreement is through a South American financier who has businesses in Bolivia and Spain. This group has placed
orders for approximately $17 million in GenUltimate! product, GenUltimate! meters and the company’s new (2017)
Firefly! Lancets. Almost 11,000 pieces (units) of GenUltimate!, 3,000 GenUltimate! meters and cases of lancets
have been delivered to Bolivia. In addition, the South America financier has funded the company’s regulatory
applications (through a Spanish pharmaceutical company) with the EU, to gain “CE” marking for its GenUltimate!
and GenSure! products in return for the Spanish distribution rights to these two products. And lastly, the South
American financier has notified the company that he and those closely associated with him wished to subscribe to a
$3.25 million to $5.0 million capital investment in the company. As of this writing the company has not concluded
this capital investment but intends to speak to this issue in the upcoming 1Q 2017 Quarterly Report..
executed through the company’s exclusive Korean agent, allows for delivery of the GenUltimate! product in quantity
to the Korean market. As of this writing, the Korean partners have ordered and paid for over 40,000 pieces (units) of
GenUltimate! Another almost 20,000 pieces (units) are on order for April 2017. The company’s second international
agreement is through a South American financier who has businesses in Bolivia and Spain. This group has placed
orders for approximately $17 million in GenUltimate! product, GenUltimate! meters and the company’s new (2017)
Firefly! Lancets. Almost 11,000 pieces (units) of GenUltimate!, 3,000 GenUltimate! meters and cases of lancets
have been delivered to Bolivia. In addition, the South America financier has funded the company’s regulatory
applications (through a Spanish pharmaceutical company) with the EU, to gain “CE” marking for its GenUltimate!
and GenSure! products in return for the Spanish distribution rights to these two products. And lastly, the South
American financier has notified the company that he and those closely associated with him wished to subscribe to a
$3.25 million to $5.0 million capital investment in the company. As of this writing the company has not concluded
this capital investment but intends to speak to this issue in the upcoming 1Q 2017 Quarterly Report..
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