JERUSALEM, January 14, 2013 /PRNewswire/ --
Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has generated an operating profit of approximately $2M in its fourth fiscal quarter from the sale of its first non-exclusive perpetual license agreement that transfers rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system.
Rights to a third party
"Upon the completion of this non-exclusive perpetual license agreement, we will be extremely pleased to be able to reward our shareholders with this special dividend," said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. "Similarly, we intend to continue to update our shareholders with further information following the sale's closing."
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.
Jacob Elhadad, CEO
SOURCE Medisafe 1 Technologies Corp.