SOURCE: Protectus Medical Devices, Inc.

September 16, 2010 07:00 ET

Protectus CEO Updates Shareholders on Current Quarter Events

MINNEAPOLIS, MN--(Marketwire - September 16, 2010) -  Protectus Medical Devices, Inc. (OTCQB: PTMD) (PINKSHEETS: PTMD), a developer and marketer of innovative safety medical devices, today announced that its management team continues to work on strategic projects to support the company's business operations over the next year. These projects include enhancing and protecting the company's core safety syringe technology, developing investment banking relationships for capital raising and future acquisitions, and implementing an investor relations program to enhance shareholder value.

CEO John Salstrom, PhD, commented, "We have worked hard this quarter to file additional patent applications to protect the proprietary safety syringe technology for medical, dental and phlebotomy uses in the U.S. and over 142 additional countries. We believe our technology is unique and will generate worldwide demand based upon recent field reports from product demonstrations in the healthcare workspace, indicating overwhelming interest in purchasing the product as soon as we begin commercial production."

Dr. Salstrom continued, "Over the past year we have been building needed infrastructure for product rollout by contracting a national sales distribution network, developing relationships for third party manufacturers to produce our products, adding to our management team and advisory board, and identifying investment banking relationships for needed capital acquisition. Our attendance at the Rodman and Renshaw Investment Conference has resulted in multiple meetings with investors and investment bankers who have shown great interest in assisting the company with capital formation and acquisition strategies. Our strong sense is that we are very near to having the investment banking partner who will be able to secure the financing needed to support our business operations in the short term, as well as help us grow and prosper in the future."

Dr. Salstrom also stated, "During the past quarter we have made an effort to improve our investor and shareholder communications by hiring professional firms and consultants whose goal is to increase shareholder value and market cap. Our stock prices have not kept pace with our efforts in these challenging financial times, so we are working harder as the market enters the upcoming holiday season. We know the value of over fifteen years of product development, millions of dollars of investment and the dedication of the management team are still not recognized properly by the market, but the truth is they do exist, and they will be properly valued as our story unfolds, we attract the needed capital and our national sales team begins distribution of our products desired by so many."

About Protectus Medical Devices, Inc. (formerly, E-18 Corp.)

Protectus Medical Devices, Inc. (PTMD, formerly, E-18 Corp.), operating through its wholly owned subsidiary, SquareOne Medical, Inc., develops and markets innovative safety medical percutaneous devices that, collectively, have the potential to dramatically reduce needlestick injuries for medical professionals worldwide. In the nearly $5 billion global hypodermic syringe market, the Protectus Safety Syringe, the Company's lead product, is the only fully automatic, self-sheathing hypodermic safety syringe that currently meets the functional definition of "Self-sheathing" mandated by the U.S. Federal Government. None of the manufacturers of other devices on the market can make this claim. Protectus Medical Devices has successfully patented its automatic, self-sheathing hypodermic safety syringe product, and, based on the results of full comparison clinical trials, the Protectus Safety Syringe (formerly the SquareOne Safety Syringe) has received the required 510(k) permission from the U.S. FDA to manufacture and market the device in the U.S. More information about the Company may be found at

Forward-Looking Statements

This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause the business and financial results of Protectus Medical Devices, Inc. to differ materially from those currently anticipated, including the risk factors identified in the filings of Protectus Medical Devices, Inc. with the Securities and Exchange Commission.

Contact Information

  • Contact:
    John S. Salstrom
    President and CEO
    Protectus Medical Devices, Inc.

    The Investor Relations Group
    Adam Holdsworth or James Carbonara