Navigation Links
Medisafe 1 Technologies Pre-pays Additional 2 Convertible Promissory Notes Due in Full to Avoid Dilution to Shareholders

JERUSALEM, November 4, 2011 /PRNewswire/ --

Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has pre-paid two convertible promissory notes aggregating $57,000, including the interest due.

The notes beared interest at 8% per annum and were due in August , 2011 and in October , 2011. The notes had conversion rights allowing the holder of the note at any time to convert all or any part of the remaining principal balance into the Company's common stock at a price equal to 58% of the average of the lowest three trading prices for the Common Stock during the most recent ten-day period.

The note was issued to fund development of Medisafe 1's patented life-saving technology and to assist in ongoing business development. As a result of pre-payment, the non-affiliated third party lender has released Medisafe 1 Technologies from its obligation. "Medisafe 1 pre-paid the promissory notes to prevent the notes from being converted into equity," said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. "Pre-payment of the notes prevented and continues to prevent the dilution of our common 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.

Forward-Looking Statements

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

Jacob Elhadad

SOURCE Medisafe 1 Technologies Corp.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Medisafe 1 Technologies Granted Eligibility Status by the Depository Trust Company
2. Medisafe 1 Technologies Finalises Contract to Develop Prototype of the Worlds First Ever Medicinal Syringe-Locking Device
3. Medisafe 1 Technologies Clarifies the PR Issued on September 1 for the Stock Dividend, as a Forward Split of 5-1 in the Form of a Stock Dividend
4. Medisafe 1 Technologies Corp Notify Shareholders on FINRAs Approval of the 5-1 Stock Dividend
5. Medisafe 1 Technologies Successfully Tests Prototype of Patented Syringe Locking Device
6. Medisafe 1 Technologies to Present Syringe Locking-Device Technology at HealthAchieve Conference
7. Medisafe 1 Technologies Presentation on Newly Launched Company Website
8. Medisafe 1 Technologies to Exhibit at Worlds Largest Medical Conference
9. Medisafe 1 Technologies Exhibition Generates Remarkable Interest at HealthAchieve Conference
10. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
11. King Pharmaceuticals and Palatin Technologies Delay Immediate Plans for Phase 3 Clinical Program With Bremelanotide for Erectile Dysfunction
Post Your Comments:
(Date:6/24/2016)... , June 24, 2016  Collagen Matrix, ... design, development and manufacturing of collagen and mineral ... announced today that Bill Messer has ... Marketing to further leverage the growing portfolio of ... devices. Bill joins the Collagen Matrix ...
(Date:6/24/2016)... Va. , June 24, 2016 The ... set of recommendations that would allow biopharmaceutical ... (HCEI) with entities that make formulary and coverage decisions, ... the "value" of new medicines. The recommendations ... does not appear on the drug label, a prohibition ...
(Date:6/24/2016)... 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... inhaled drugs, announced today that it was added to ... its comprehensive set of U.S. and global equity ... an important milestone for Pulmatrix," said Chief Executive Officer ... of our progress in developing drugs for crucial unmet ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the American ... Annual Research Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. ... including advance care planning, healthcare costs and patient and family engagement. , AIR ...
(Date:6/25/2016)... ... , ... First Choice Emergency Room , the largest network of independent ... Director of its new Mesquite-Samuell Farm facility. , “We are pleased to announce ... Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , ...
(Date:6/25/2016)... ... 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether it’s ... setting the bar too high can result in disappointment, perhaps even self-loathing. However, those ... goal. , Research from reveals that behind the tendency to ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was ... his family verbally and physically. , “When something upset him, he couldn’t control his emotions,” ... He would throw rocks at my other children and say he was going to kill ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San ... Society and the Road To Recovery® program to drive cancer patients to and from ... adults to ensure the highest quality of life and ongoing independence. Getting to ...
Breaking Medicine News(10 mins):