5. Oktober 2009 23:56 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. First and foremost are the Duke Study results. The study was designed to determine that long-wave infrared imaging can be used to identify skin temperature changes associated with underlying tissue changes. We wanted to determine if the use of Long Wave infrared imaging is as effective as the Braden Score in predicting nosocomial pressure ulcers. As the study has been completed for sometime, the results were put on hold for non-payment. In December 2008, Wellstar was able to make the payment that was due to Duke University. Since that time, we have been awaiting the final report. While the company was late making their payment, Wellstar lost their position of expedience with the final results. Since the payment has been made, we believe there have been great strides in the last few months in compiling the data and putting the data into a final report. Wellstar has received several of the drafts pertaining to the final report for publishing. Wellstar believes that the final results of the study will be published within the next 30 to 60 days. With the publication of the study, Wellstar intends to raise enough capital to be able to run a minimum of two trials within the marketplace. We cannot provide any guarantee that we will be able to successfully raise capital, or if we do raise capital, that it will be on acceptable terms. These two trials will run simultaneously and allow for Wellstar to work out the installation and execution process of our system. It is anticipated that the trials will be for a period of between 90 and 120 days. While the trials are being held, Wellstar will begin marketing its system. We will focus our efforts on hospitals, nursing homes and long term facilities. Another issue that I would like to address is the current volume of shares that are being traded. The high volumes of shares that are and have been selling are the result of our debt holder’s ability to convert into shares of common stock. Our promissory notes allow for the note holder to convert the outstanding principal and interest due to them into shares of common stock, which shares may be issued without a restrictive legend as the shares tack to the date of the issuance of the promissory notes under Rule 144. By the note holders converting to shares and selling into the marketplace, the company is reducing its debt. Until the company is cash flowing and able to meet it’s obligation to the note holders as well as its overhead, the conversions will continue. Wellstar will be making announcements to the public as they achieve any significant progress in the process of rollout and installation of their systems. Source: Wellstar International, Inc http://www.news-medical.net/news/20091005/...ial-pressure-ulcers.aspx Wellstar International Announces Funding HOLLAND, Ohio, Oct 14, 2009 (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. SOURCE: Wellstar International, Inc. |