Wellstar International Announces Funding
October 14 2009 - 7:30AM
Business Wire
Wellstar International, Inc. (OTCBB:WLSI), has announced that it
has entered into a financing agreement with JMJ Financial to
provide the Company with an expected $1.2 million dollars in
operational funding over the eighteen months. Details of the
financing were contained in the Company's Form 8-K filing with the
Securities and Exchange Commission on October 9, 2009.
The initial funding has been transferred to Wellstar and is
expected to continue on a monthly basis. This funding will allow
Wellstar to continue to operate in the near future and develop the
completion of its Trillennium Medical Imaging System for rollout to
the medical community. Although we have entered into a definitive
agreements with respect to the financing with JMJ Financial, we
cannot provide any guarantee that the funding outlined in the
agreements will continue on a monthly basis or at all.
Wellstar International, Inc. seeks to be the first-to-market in
deep tissue injury and pressure ulcer detection using its
proprietary infrared imaging system. Thermal Imaging is a low cost,
noncontact, non-radioactive diagnostic screening procedure designed
for clinical evaluation. In addition, thermal imaging provides an
ability to track the progress of therapies being utilized in a low
cost, non-invasive manner. Thermal Imaging can detect signs of
pressure ulcers before they are visible with the naked eye through
detection of temperature changes at the site which allows for
treatment of the pressure ulcer before it erupts. The TMI system
can be used to scan all new patients into hospitals and long-term
care facilities prior admittance and begin treating existing wounds
before they are visible.
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. Important
factors currently known to management that could cause actual
results to differ materially from those in forward-statements
include fluctuation of operating results, the ability to compete
successfully and the ability to complete before-mentioned
transactions. The company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operation results.
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