LOS ANGELES, CA--(Marketwired - Feb 18, 2014) - Decision Diagnostics Corp. (OTCQB: DECN), the exclusive worldwide sales, service and regulatory processes agent for the popular Shasta GenStrip™, the unique Green Glucose Test Strip, specifically designed to work with the Johnson & Johnson's LifeScan Ultra family of glucose testing meters, today announced that that the Company has executed a Terms Agreement with a major east coast based litigation prosecution fund for the financing of the prosecution of DECN's countersuits brought against LifeScan, Inc., a division of Johnson and Johnson, Inc. DECN has asserted claims for anti-trust violations and false advertising.
"The antitrust prosecution, if successful, carries with it a possible award of triple damages," said Keith Berman, DECN's Principal Executive Officer and the GenStrip Program Director. Mr. Berman further observed, "In our case, we are pursuing two prizes simultaneously, first the prosecution of our anti-trust and false advertising claims for J&J's anti-competitive behavior throughout our dispute, and secondly, we will assemble our arguments and begin a process of collecting on the damages we have suffered as the result of the J&J patent litigation on which the Court of Appeals for the Federal Circuit has ruled favorably for DECN. This higher court ruling offers DECN an opportunity to begin prosecution efforts, an upcoming attack as some have called it, on the $12.7 million court ordered litigation bond. Our litigation financing partner has put up a substantial pool of capital specifically to assist us in achieving significant positive outcomes for these prosecutions."
In the meantime, the company reminds shareholders and all interested parties that it is currently airing its GenStrip commercial video titled, "A Winter Patchwork" in every region of the country, and has secured play times on all cable outlets that will televise the 2014 Winter Olympics. The company's media schedule calls for almost 13,000 total 30 second buys with the commercial playing all hours of the day except for late morning and dinner hours. The extremely popular video is available for viewing at: http://shastagenstrip.com/winter_ad.html or http://youtu.be/j0njOGSSKtQ.
Mr. Berman concluded, "The most recent court rulings favor DECN's position and the company now has all of the additional financing required, and then some, to contest an expensive, but potentially benefit rich, two front legal battle."
Forward Looking Statements:
This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions.
For further information about Shasta GenStrip, please visit the company's Web Sites: http://www.decisiondiagnostics.com/ or http://www.shastagenstrip.com/.
GenStrip™ test strips are a product of Shasta Technologies, LLC and are not manufactured, distributed, endorsed, or approved by nor associated with LifeScan®, Inc. a Johnson & Johnson® Company, manufacturers and distributors of the OneTouch® Ultra® Family of Meters and OneTouch® Ultra® test strips.