WayPoint Biomedical Holdings, Inc. Responds to SEC Subpoena
05 April 2007 - 8:31PM
PR Newswire (US)
HUNTINGTON BEACH, Calif., April 5 /PRNewswire-FirstCall/ --
WayPoint Biomedical Holdings, Inc. (Pink Sheets: WYPH) has received
a subpoena from the Securities and Exchange Commission requesting
documents concerning the company's business and financial affairs.
The subpoena is almost identical to a subpoena that the company
received in April of 2006 when, according to the Securities and
Exchange Commission, it was investigating certain trading
activities in the company's stock. WayPoint Biomedical Holdings,
Inc. intends to comply fully with the subpoena, just as it complied
fully with the subpoena issued last year. The company has received
no further communication from the Securities and Exchange
Commission with respect to the earlier subpoena. The company is
pleased that the Securities and Exchange Commission appears to be
making inquiry into possible "spamming" activities involving the
company's stock. The company denies that it has engaged in any such
activities. In fact, the company has already initiated, and is
vigorously prosecuting, litigation against persons and entities who
the company suspects have engaged in such activities. The company's
litigation efforts were commenced last year, long before trading in
the company's share were temporarily suspended and before the
issuance of the subpoena on March 8, 2007. After the ten day
suspension, WayPoint Biomedical's stock commenced trading on March
21, 2007. About WayPoint Biomedical Holdings, Inc.: WayPoint
Biomedical Holdings, Inc. (Pink Sheets: WYPH), is a pioneering new
biomedical technology firm, specializing in tests and devices for
screening and monitoring human health, wellness and fitness. The
Company's develops and markets a unique array of cutting-edge
products, which includes their Health Essist(R) Hangover-Free
Topical Patch for the Convenience Store market and their OTC
approved Health Essist Drugs-of-Abuse product range. WayPoint's
tests offer both a preliminary diagnostic screen to specific
conditions, along with a future path for consumers, medical
providers, and first responders to follow regarding their health
status or environmental condition. WayPoint's unique and affordable
home-based and on-site tests are focused on detecting the cause of
a disease or pathogen, as opposed to determining the symptom;
becoming a part of the solution to help reverse the escalating cost
of Healthcare. The Company's primary target sectors are the Over
the Counter (OTC) Wellness & Self-Testing Market and the
Diagnostic Point of Care (POC) Testing Market, two of the fastest
growing areas in all of diagnostic medicine and science. For more
information on WayPoint Biomedical and their product range visit
http://www.waypointbiomedical.com/, http://www.healthessist.com/,
http://www.drinkdetectiveusa.com/. Included in this release are
certain "forward-looking" statements, involving risks and
uncertainties, which are covered by the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, including
statements regarding WayPoint's performance. Such statements are
based on management's current expectations and are subject to
certain factors, risks and uncertainties that may cause actual
results, events and performance to differ materially from those
referred to or implied by such statements. In addition, actual
future results may differ materially from those anticipated,
depending on a variety of factors, including continued maintenance
of favorable license arrangements, success of market research
identifying new product opportunities, successful introduction of
new products, continued product innovation, the success of
enhancements to WayPoint's brand image, sales and earnings growth,
ability to attract and retain key personnel, and general economic
conditions affecting consumer spending, including uncertainties
relating to global political conditions, such as terrorism. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. WayPoint
Biomedical does not intend to update any of the forward-looking
statements after the date of this release to conform these
statements to actual results or to changes in its expectations,
except as may be required by law. Investor Relations: Steven Fox,
714-848-3200 E-mail: DATASOURCE: WayPoint Biomedical Holdings, Inc.
CONTACT: Investor Relations, Steven Fox of WayPoint Biomedical
Holdings, Inc., +1-714-848-3200 Web site:
http://www.waypointbiomedical.com/
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