Friday, August 31, 9:15 am ET
LOS ANGELES, Aug. 31 /PRNewswire-FirstCall/ -- Signalife, Inc. (Amex: SGN), Lowell T. Harmison, President and acting Chief Executive, has release the following corporate update since his matriculation into the Presidency last month:
1. Dr. Harmison has already "cleaned house" and has eliminated several
positions that were producing no revenue whatsoever and no hope of any
positive results for the Company, in his view. That was done
immediately by Dr. Harmison and was done by the Dr. personally. "We
are now operating within five separate departments: Sales, R&D,
Operations, FDA, Regulatory. These positions are now compartmentalized
and operating efficiently under my direct supervision."
2. As promised, and as announced, Dr. Harmison has participated in
obtaining a $102 million financing vehicle for the Company. Dr.
Harmison calls this an "extremely valuable" facility, because it
enables the company to choose the market conditions - and stock price -
at which it shall exchange its stock for capital." Dr. Harmison
continues: "We are thankful to the AMEX for so efficiently and in good
faith evaluating and approving our financing transaction. The market
appears to be getting the message that - when my sales initiatives bear
fruit in the upcoming near term - the obtaining of $100 million at the
market price is a testament to our technology - referred to as a
"modern medical miracle" by NBC. Any other result would have been
unfair to our shareholders, and I promised that I would create a new
era for our shareholders - one with revenues, earnings, profits, growth
and corporate accolades."
3. According to Dr. Harmison, "our sales funnel utilizing marquee
hospitals known to the Company and its Board" is proceed
|SOURCE Signalife, Inc.|
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