JERUSALEM, September 3, 2010 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, will be issuing and completing a forward stock split of 5-1 in the form of a stock dividend on its common shares.
The Company anticipates the stock dividend will be payable on or about September 20 2010 to the shareholders of record on September 17 2010 and is subject to FINRA approval. When the stock dividend becomes effective, shareholders of each one restricted stock will receive an additional 4 shares of restricted stock and each shareholder of one unrestricted stock will receive an additional 4 shares of unrestricted stock. Medisafe 1 Technologies currently has 10,000,000 shares outstanding. The forward stock split in the form of the issuance of the dividend will increase the total shares outstanding to 50,000,000. Medisafe 1 expects the Board's decision will improve liquidity and trading volume in the Company's stock.
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.
Contact: Jacob Elhadad CEO +972-524440000 firstname.lastname@example.org
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