Letter from CEO: Kelly forwarded your email to
Post# of 7791
Kelly forwarded your email to me and asked if I would be
willing to respond.
It is true that we have not put out any press
releases or communicated with the shareholders in a while. However, we
are actively pursuing our announced goals of being a low cost OEM that
has a strong research program focusing on PSWT for the treatment of a
multiple number of pain related ailments and uses third partying
specialists to distribute its products into the marketplace.
As announced earlier there are three clinical trials in progress, one at
Stanford’s medical center and two at the UC San Diego medical center.
To the best of our knowledge the preliminary results look positive.
We also finished a clinical trial on canine pain and this study is now
under peer review. In addition we have been actively pursuing the
establishment of a number of new international distributor agreements.
I can assure you that our staff is working hard to bring these agreements
to positive closure. With all this said, there is really no new material
news that we can (and should) report on right now. However, please note
we have not issued any new stock since Kelly and I took leadership after
Andy’s death and the firm is still making payroll each week. Thus,
your statement that the threat of bankruptcy appears to be real isn’t
compatible with the current status of the firm. Just the opposite, it is
moving forward with a good strategy and a good tactical plan. If you
agree, stay tuned.
Richard Staelin (Chairman of the Board)