SAN FRANCISCO, May 5, 2011 /PRNewswire/ — Cardiac Network, Inc.
(Other OTC: CNWI.PK) (the “Company”) today announced that the
Company will effect a 1-for-750 reverse stock split (the “Reverse
Stock Split”). The Reverse Stock Split will take effect on the
opening of business and trading on May 6, 2011 (the “Effective
Date”). On the Effective Date, the Company’s trading symbol will be
changed from “CNWI” to “CNWID” for approximately 20 business days,
after which it will revert to CNWI. Upon the effectiveness of the
Reverse Stock Split and as of the Effective Date, there will be
approximately 109,345 shares of our common stock issued and
outstanding.
About Cardiac Network:
Cardiac Network, Inc. is a medical technology company that has
participated in cardiac monitoring research projects with hospitals
and has provided cardiac monitoring and diagnostic services to
general practitioners and specialist physicians, for the
investigation of patients with abnormal cardiac rhythm and
function. Past services provided by the company have utilized
unique transtelephonic (by telephone) cardiac recorders that
monitor and provide diagnostic information to physicians and their
patients. Cardiac Network has spent significant funds in an effort
to develop new technologies that could be used easily by
individuals outside of their physician’s office to help them
quickly determine if they are having potential cardiac problems and
so that they can obtain needed medical treatment. Learn more about
Cardiac Network, Inc. by visiting http://www.cardiacnetwork.net.
Forward-looking statements
This press release contains “forward-looking statements.”
Forward-looking statements are statements concerning plans,
objectives, goals, strategies, expectations, intentions,
projections, developments, future events, or performance,
underlying (expressed or implied) assumptions and other statements
that are other than historical f
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