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DECN Expands Talks Involving Its GenUltimate TBG System, Balances Potential and Competing Outcomes with Recent Intro to 2nd Interested Party
DECN Expands Talks Involving Its GenUltimate TBG System, Balances Potential and Competing Outcomes with Recent Intro to 2nd Interested Party.
About this update from Decision Diagnostics Corp
[{"type":"text","content":"Company Receives 3rd Communique from FDA for Clearance of its GenChoice Test Strip, and at the Request of Agent Paragon, DECN Revives GenPrecis Line for Big Box SalesLOS ANGELES, CA / ACCESSWIRE / April 17, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) Decision Diagnostics Corp. is a 17 year old diabetes focused bio-technology R&D firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for a growing brand of glucose test strips and meters as highly accurate alternatives for legacy diabetic, proprietary, and pet testing glucose test strips.Decision Diagnostics is pleased to announce a series of recent events, ostensibly related to the company's announcement of the completion of advanced development for its GenUltimate TBG panacea product. Keith Berman, CEO of DECN commented, 'The company has been approached by two parties, both extremely interested in our GenUltimate! TBG product and the anticipated effect this product will have on the at-home testing industry. The approach taken by the first party would include a cash transaction followed by a 4-5 year license agreement. If this path is chosen, an exclusive arrangement would be foreseen. The second and more recent party has notified the company that their interest would be through an M&A leveraged transaction."Mr. Berman continued, "Both of the parties are well heeled entities with footholds in our space. Both entities would expect standstill agreements, making the Board's decision a choice of one proposal or the other, the rejection or counter to one or the other, or perhaps a request for other parties to come forward. Current company valuation, the focal point of any offer or transaction, is believed by the Board to be extraordinarily low, and this valuation will guide all Board decisions. Shareholders and other interested parties will be notified when the Board of Directors reaches a decision."The company has also announced that we are in receipt of a 3rd communique from the U.S. FDA concerning our GenChoice! test strip, being reviewed by the FDA for clearance. We have answered this communique. We believe the FDA review staff is now progressing to the strongest part of our application. We have yet to see any regulatory resistance.In addit...