SOURCE: XTend Medical Corp.

November 09, 2007 06:31 ET

XTend Medical (XMDC) Files Formal Complaint With FINRA Regarding Short Selling of Company Stock

SUN VALLEY, CA--(Marketwire - November 9, 2007) - XTend Medical Corporation (PINKSHEETS: XMDC) has learned through various channels that one of the top three online brokerage firms is soliciting current shareholders to short XMDC stock. The company also feels there are also additional individuals and/or brokerage firms that are in non-compliance with Regulation SHO of the Securities and Exchange Commission.

According to the SEC, Regulation SHO states, "... it is prohibited for any person to engage in a series of transactions in order to create actual or apparent active trading in a security or to depress the price of a security for the purpose of inducing the purchase or sale of the security by others. Thus, short sales effected to manipulate the price of a stock are prohibited."

"We have learned that there may have been some improprieties with respect to the trading activity and share price of the company stock over the past several weeks. A source revealed to us that a prominent online brokerage firm has willingly solicited current and new shareholders in asking them if they would be interested in shorting the stock of the company. In our opinion this represents a concerted effort to harm the company, its shareholders, and is in direct violation of SEC Regulation SHO. On Monday, we will be submitting a formal complaint to the SEC to open an investigation to find out if SEC Regulations have been broken. In the event we find out there has been actions that have hurt the company and/or shareholders, we will take all necessary legal actions against the company(s) and/or individuals responsible within the limits of the law and SEC rules and regulations," stated Mr. Paul D. Lisenby, CEO of XTend Medical.

For further information regarding Regulation SHO, please log onto the SEC Website at

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 us at

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

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