Northstar acquires a new and exciting patent license in a multi-billion dollar industry
HOLBROOK, N.Y., May 29, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN), today announced that after lengthy negotiations, it has closed a deal with the owners, and inventors of one of the most exciting health related patented processes in the US today. The patent, titled: "Method of treating lactose intolerance using genetically engineered bacteria," covers a process for the creation of a product that when ingested, has been shown to have the potential of completely alleviate the symptoms of lactose intolerance. The product, developed in partnership with Celprogen, Inc. by it's co-inventor, pharmacist Kenneth Manzo, showed that when tested in laboratory rats, their intolerance for lactose-based foods disappeared for up to three months without taking additional doses of the product.
Lactose intolerance is the inability to digest milk and milk products, and may cause symptoms ranging from mild to severe abdominal pain, abdominal bloating, gas, diarrhea, and nausea. The only treatment for this condition is to either avoid lactose-containing foods and drinks altogether, or to take over the counter pills before or immediately after the food is consumed. Often lactose intolerant people may forget to take their pills, not have any on them or accidentally consume something with lactose and the result is illness and a severe disruption of everyday life.
This patent has the potential to make all of that discomfort and disruption a thing of the past. A single dose of the product produced using this patented method would basically change the person's digestive system's behavior to that of someone without lactose intolerance for up the three months at a time. This would allow the individual to eat anything they please without taking a single pill. Considering the difficulty and cost associated with current over the counter treatments, Northstar feels the potential of this product is almost limitless, and if executed properly could put the company in a position of changing millions of lives for the better.
Northstar CEO, Nick Chieco commented, "This is nothing short of revolutionary for people who suffer from lactose intolerance. We feel strongly that our product, using this ingenious patented method, will be the only lactose intolerance product anyone will want to take once it is released. It's important for our shareholders to know that our move in this direction, and our plans for the product as it relates to Northstar are part of a much larger objective to move from strictly non FDA approved supplements to the eventual FDA approved over-the-counter medications space. What better way to enter that space than with a unique, patented, and desperately needed product such as this."
While the details of the deal remain yet to be disclosed, The Company assures shareholders that neither precious capital, nor free-trading equity were used to solidify the patent's use. Instead, in order to avoid dilution or a shortfall of capital needed to fund inventory, a deal was struck using restricted shares with lock up periods in addition to a year as to avoid damage to the tight share structure the company has worked so hard to create. In the past couple months alone, Northstar has pulled over two hundred million shares off the market through share buy backs, negotiated purchases, and shares surrendered by management. Mr. Chieco explained, "We knew we would need to issue restricted equity to acquire additional patent licenses and properties such as this, and that's one of the reasons we have been so aggressive in taking shares off the market. Even if we didn't take so many shares off the market, the number of shares we would have had outstanding due to this deal would still not be excessive, for a company with our revenues and market share. However, as we battle short selling and other technical hurdles we felt we needed to trim down as much as possible prior to doing a deal like this, and I believe we definitely achieved that goal. " Mr. Chieco also wants to let shareholders know that he will continue using the strategy to take additional shares off the market moving forward, and he is extremely confident that as the end of the quarter nears, Northstar is ever closer to reaching it's goal of delivering audited financials and re-listing on the OTCBB.
Northstar Global Business Services is dedicated to producing the best alternative healthcare products. The most popular products Northstar's sells are Snorenz©, a patented spray for snoring relief, Stem-Intense, a unique stem cell replacement therapy supplement, and Health-Enrich for pets, an exciting new supplement that promotes pet health and can help relieve many problems experienced by aging pets. Most of the company's products use a proprietary or patented formula, spray delivery system, or ingredients, and have received very positive consumer reviews all over the world, selling millions of units from 1996 to the present. For more information please call Jennifer at 877-571-4387 or email firstname.lastname@example.org
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
SOURCE Northstar Global Business Services, Inc.