SOURCE: GelStat Corporation

October 23, 2012 09:27 ET

GelStat Corporation's CEO Issues Letter to Shareholders Discussing Recent Events

PALM CITY, FL--(Marketwire - Oct 23, 2012) - GelStat Corporation (PINKSHEETS: GSAC), a consumer healthcare company primarily focused on the development and marketing of over-the-counter (OTC) products for the safe and effective treatment of pain, inflammation and sleep disorders, issues a letter by its CEO to shareholders discussing recent events.

To Valued Shareholders and the Investment Community,

I am pleased to announce that the Company has recently filed its form 10Ks for 2005, 2006, 2007 and 2008 as well as its form 10Qs for the first, second and third quarters of 2006, 2007 and 2008 with the Securities and Exchange Commission. These filings fill the gap from when the Company made its last filing for the third quarter of 2005 and when the Company filed its form 15 in January of 2009 to suspend reporting requirements. GelStat is now positioned to file a form 10 and become a fully reporting company or file the required documents to become an alternative reporting company on the OTC Markets. Either decision will provide better transparency to the investment community.

Moving forward here are the primary objectives:

  • Select and sign a marketing partner to launch a significant direct-to-consumer marketing campaign to promote GelStat Migraine and GelStat Sleep;
  • Create a Scientific Advisory Board;
  • Report the Company's audited results for 2009, 2010 and 2011;
  • Identify acquisitions to accelerate revenues and cash flows;
  • Secure the rights to additional healthcare related products; and
  • Strengthen the Company's financial condition.

We have already made significant progress on a number of the aforementioned objectives and expect to be releasing additional information soon.

Sincerely,

Gerald N. Kieft
Chief Executive Officer
GelStat Corporation

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ABOUT GELSTAT CORPORATION

GelStat Corporation is dedicated to providing safe and effective over-the-counter (OTC) treatments for pain, inflammation and sleep disorders. GelStat's first two products GelStat Migraine and GelStat Sleep are sold through direct-to-consumer channels as well as in a limited number of independent retailers and pharmacies. The Company also has a suite of additional healthcare products in various stages of development that address large consumer markets. For more information, visit www.gelstat.com.

Safe Harbor Statement

This press release and the shareholder letter contains forward-looking statements including pursuing strategic relationships, building and leveraging a direct-to consumer platform to launch new products, acquiring or licensing the rights to products with proven science, growing organically and achieving each of the goals mentioned above. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the failure of our products to be accepted, failure to obtain partners to market and distribute our products, unanticipated delays in launching website or failure of the website to generate revenues, our inability to find a target to acquire on mutually acceptable terms, and the inability to get our reports prepared and filed timely as a result of unforeseen audit issues.

Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact Information

  • FOR ADDITIONAL INFORMATION CONTACT:

    Gerald Kieft
    CEO
    GelStat Corporation
    772-283-0020