Wellstar International, Inc. Shareholder Update
June 23 2010 - 5:30AM
Business Wire
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 AntonioChief Executive OfficerWellstar International,
Inc.
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.
Website is www.wellstar.us
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