John Antonio, CEO of Wellstar International, Inc. (OTCBB: WLSI), today issued the following statement:
As the CEO of Wellstar, I wanted to take the time to update all of our shareholders with the current status of the company, as well as the direction of where the company is headed.
We have been working very hard to have our Trillennium Medical Imaging System ready to go to market. As most are aware we have been waiting for the Duke Study to be published in the ADVANCES IN SKIN AND WOUND CARE PUBLICATION JOURNAL. While everything has been submitted to the publisher and there have been two rounds of questions and clarifications resubmitted, we are confident and excited that we will have the results published in August or September. This will obviously be a very important milestone for Wellstar International as this independent report will validate the results we have been seeing and reinforce the demand for our Trillennium Medical Imaging System in the marketplace.
The timing of the publication coincides with our new camera being completed and ready for mass production. As previously announced, we have contracted with a multi billion dollar manufacturer to have the camera designed to be market ready and user friendly. Up until this point, we have been in Beta Tests and getting good results with our current camera. This testing period has given us the ability to learn how to improve the system in our target work environment and we have done so. We have been able to design a better camera specifically made for our market which is Hospitals, Nursing Homes and Long Term Care Facilities (LTAC). We also have been able to reduce the cost of the system by more than 40%. When the company starts to place systems with the price savings our path to profitability will be very quick. The company expects to be cash flow positive within 3 months of our initial launch.
The company will continue to market its new system to hospitals, nursing homes and long term care facilities for installations starting in November. In the interim, we will continue ongoing trials and additional beta testing in facilities with our existing system.
To recap, Wellstar is well positioned to be the first to market with a system that can predict deep tissue injury that leads to pressure ulcers or bed soars. Wellstar will start full scale marketing in November of 2010 upon the publication of the results of the Duke Study and the new TMI Camera being ready for mass production. This is a very exciting time for Wellstar and its shareholders. We have worked very hard to get to this point. It may have taken longer than anticipated, but we have remained steadfast to our goal to be first to market with a superior product and we are nearing that point. Your constant support is appreciated and we look to a very successful 2nd half of 2010.
Wellstar will be making announcements to the public as they achieve any significant progress in the process of rollout and installation of their systems.
John Antonio
Chief Executive Officer
Wellstar International, Inc.
Innovative injectable filler offers hope for diabetic wound treatment