SOURCE: XTend Medical Corporation

January 10, 2008 06:31 ET

XTend Medical (XMDC) Continues Investigation Into Short Selling of Company Stock

FINRA Gathers Information Regarding Trading Improprieties

SUN VALLEY, CA--(Marketwire - January 10, 2008) - XTend Medical Corporation (PINKSHEETS: XMDC) recently had a conference call with FINRA regarding the solicitation of shareholders by brokers to short the company stock as well as any possible trading improprieties with regards to share price. The company released the following statement:

"On Tuesday, January 8th, I had a conference call with FINRA case managers to discuss the possibility that short selling of the company stock has taken place as several XMDC shareholders have relayed to me via email. In addition, I expressed my concerns regarding possible price manipulation in order to depress price per share at their current low levels. The conversation was a fact finding one so the investigators could gather the information necessary to complete a thorough investigation. As the company has seen higher levels in trading activity yet the price per share continues to decline, my concern is that several people and/or entities continue to try and harm the company through short selling activities via broker/dealers and possibly offshore entities. I felt satisfied at the end of the conversation that FINRA will follow up and through their investigative procedures hopefully uncover those responsible and fine and/or suspend the parties that are harming our company. In the event the investigation uncovers improprieties and the information is sent to the company, we will then spare no expense in using all legal means to seek restitution for the company as well as all shareholders who may have been harmed through this illegal activity," stated Mr. Paul D. Lisenby, CEO of XTend Medical.

About XTend Medical: XTend Medical Corporation markets and sells healthcare and wellness products to hospitals, managed care companies, nursing homes, physician groups and individual patients. Through their alliances, XTend offers pharmacy services, diabetic supplies, and telemedicine products that increase patient care yet reduce costs associated with servicing those patients. For more information, please visit their website at www.xtendmedical.com

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact Information

  • Company Contact:
    FutureTechIR for XTend Medical Corporation
    Investor Relations
    (817) 812-2105