SOURCE: WayPoint Biomedical Holdings, Inc.

October 17, 2007 16:57 ET

/ CORRECTION - WayPoint Biomedical Holdings, Inc. Initiates Process to Move to the National Over The Counter Bulletin Board Market

HUNTINGTON BEACH, CA--(Marketwire - October 17, 2007) - In the news release, "WayPoint Biomedical Holdings, Inc. Initiates Process to Move to the National Over The Counter Bulletin Board Market," issued earlier today by WayPoint Biomedical, Inc. (PINKSHEETS: WYPH), we are advised by the company that the "Outside Auditor" name should read "Gruber & Company, LLC" throughout, rather than "Corso & Company," as originally issued. Complete corrected text follows.

WayPoint Biomedical Holdings, Inc. Initiates Process to Move to the National Over The Counter Bulletin Board Market

HUNTINGTON BEACH, CA -- (October 17, 2007) - WayPoint Biomedical Holdings, Inc. (PINKSHEETS: WYPH) announced today that its Board of Directors has initiated the process to move the Company to the National Over The Counter Bulletin Board Market, for purposes of the public trading of the Company's stock.

Consistent with this new direction, the Company has hired the law firm of Davis & Associates to prepare a Form 10 Registration Statement to register the Company's Common Stock under the Securities And Exchange Act of 1934, and comparable disclosure information with the NASD. The Company has also hired the Public Accounting Firm of Gruber & Company, LLC, as its "Outside Auditor," to prepare audited financial statements for the Company.

Management expects to file with the SEC and the NASD before the end of the year, and estimates that sometime in the first Quarter of 2008, the Company should be a full fledged "registered" Company under the '34 Act,' with securities actively traded on the Over The Counter Bulletin Board Market.

About WayPoint Biomedical Holdings, Inc.:

WayPoint Biomedical Holdings, Inc. (PINKSHEETS: WYPH) is the holding Company of Health Essist, Inc., a pioneering new biomedical firm specializing in topical transdermal products for enhancing human health, wellness and fitness. The Company develops and markets a unique array of cutting-edge products, including their topical transdermal Health Essist® Hangover-Free and Energy-Boost Power Patch lines. Health Essist's unique and affordable products are focused on providing all-natural wellness enhancement solutions and relief. The Company's primary target sector is the rapidly growing Over the Counter (OTC) retail natural health and wellness market. For more information on the WayPoint Biomedical Holdings range of Health Essist® products visit

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding WayPoint's performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to WayPoint's brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. WayPoint Biomedical does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information