Authorized to repurchase up to 10 million of its o

Authorized to repurchase up to 10 million of its outstanding shares of $MFTH common stock

http://www.smallcapnetwork.com/Medisafe-1-Tec...d/1/id/87/

Medisafe 1 Technologies Corp. (OTC: MFTH), a development stage company engaged in the development of patented technologies that physically prevent unauthorized administration of prescription medications, announced that it intends to commence its share buyback program at the beginning of March 2012.

MFTH’s Board of Directors had approved a share buyback program last month under which the company has been authorized to repurchase up to 10 million of its outstanding shares of common stock during the next 12 months at a price of up to $0.10 per share on the open market or by conducting privately negotiated transactions depending on the market conditions.

Jacob Elhadad, CEO of Medisafe 1 Technologies, had said last month that the company continues to progress in its efforts to bring further added value to its shareholders. Elhadad had also said that the repurchase of shares will allow MFTH to acquire additional technologies that augment its existing commercial product line.

Last month, Medisafe Technologies had also announced that business development efforts are underway to acquire companies with medical devices and/or lifesaving technologies that are already revenue generating.

Elhadad said last month that MFTH is in the market for companies that have already proven an ability to generate revenues with medical technologies and these technologies will complement MFTH’s patented syringe locking device and transfusion bag locking device that have already proven to be commercially-viable.

Medisafe shares have risen sharply in today’s trading. At last check, the stock was up 45% to $0.0261 on above average volume of 11.96 million. The stock has gained 166.34% in the last three trading sessions.