LOS ANGELES, Dec. 6, 2011 /PRNewswire/ -- Decision Diagnostics Corp., formerly known as InstaCare Corp. (OTCQB: ISCRD), a leading provider of prescription diagnostics, home testing products for the chronically ill, a leading fulfillment provider of direct to patient diabetes programs, and a leading developer of revolutionary cell phone centric e-health products and technologies, today announced that the Board of Directors has approved the payment of a 10 percent stock dividend to all shareholders of record as of December 20, 2011. The dividend will be payable to shareholders of record no later than December 31, 2011.
Decision Diagnostics also announced that management is in the process of evaluating potential acquisitions to bolster the company's competitive position. The Board is committed to streamlining and simplifying the company's capital structure for the benefit of shareholders and to help improve the company's M&A capabilities. Accordingly, the Board has decided to reduce the authorized share count from 1.75 billion to approximately 495 million (494,995,000).
Mr. Berman, CFO and Secretary commented, "We are moving earnestly to complete the strategic initiatives necessary to position Decision Diagnostics Corp. for a national listing on a major exchange. This proposed national listing, and our improved capital structure, are appropriate for a company of our size with the growth dynamics we have before us. Our position as a full-service provider of a wide and growing range of at-home diagnostics, poised to become a major player in the $20 billion worldwide market for at-home testing of blood glucose. A national listing will significantly enhance the visibility of our stock and improve liquidity, both to the long-term benefit of our loyal shareholders. In addition, the Board of Directors wanted to reward our shareholders with a one-time 10% stock dividend, and we are excited to announce that today."
Mr. Berman concluded, "We are in advanced discussions with potential targets and hope to have M&A-related announcements in the coming days. We are redoubling our efforts to close these potential M&A activities before the end of the year. Our actions follow the previously announced 1 for 14 reverse split, effective December 1, 2011. These changes the company's capital structure are part of an effort to qualify to have our common stock to be listed on a national exchange, with the goal of applying to the NASDAQ Bx exchange early in 2012."
For more information about Decision Diagnostics Corp., Pharma Tech Solutions, Inc. and/or its revolutionary MD@Hand cell phone centric technologies, please visit the Decision Diagnostics Corp. web site www.decisiondiagnostics.com or www.pharmatechdirect.com, or call the company at (805) 446-2973.
This news release contains forward-looking statements about our business, or financial condition and prospects 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 news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions.
SOURCE Decision Diagnostics Corp.