LOS ANGELES, CA / ACCESSWIRE / January 22, 2016 / Decision Diagnostics Corp. (OTC PINK: DECN), the manufacturer, quality plan administrator and the exclusive worldwide sales, service and regulatory processes agent for the popular GenStrip(TM) 50, the FDA-cleared Green Alternative Glucose Test Strip, specifically designed to work with the market leading Johnson & Johnson's LifeScan OneTouch Ultra family of glucose testing meters, the most popular meter worldwide for diabetic self testing, announced today that on December 28, 2015, an agreement was executed with Navesink Device Initiatives SPV II, LLC to retire $1,033,950 of 2013 Convertible Notes plus accrued interest. The Notes were retired prior to any conversion requests.
Separately, the company announced a supplemental investment by Alpha Capital Anstalt ("Alpha"). Alpha will purchase $1 million in 18-month, 15% OID derivative instruments secured by its patents and by manufacturing equipment the company is purchasing on behalf of its Korean manufacturing partner. The company's initial drawdown was for $333,334 with the balance to be drawn as needed. Terms of this agreement are consistent with prior agreements with Alpha.
Forward-Looking Statements:
This release contains the Company's forward-looking statements which are or may be based on management's current expectations and assumptions as of January 22, 2015, regarding the Company's business and performance, its prospects, current factors, the economy and other future conditions and forecasts of future events, circumstances and results.
Contact:
Decision Diagnostics Corp.
Keith Berman
(805) 446-2973
info@decisiondiagnostics.com
SOURCE: Decision Diagnostics Corp.
