SANTA CLARA, Calif., Sept. 2 /PRNewswire-FirstCall/ — NewCardio
(OTC Bulletin Board:
NWCI) a cardiac diagnostic technology provider, today announced
that Vincent Renz, Jr., NewCardio’s President and CEO, purchased
128,000 shares during his trading window in open market
transactions in the two weeks following the Company’s filing of its
SEC Form 10-Q and earnings conference for the second quarter ended
June 30, 2010.
“As discussed on our August 12, 2010 investor conference call,
we are focused on the underlying fundamentals that will enable us
to create long term value for our employees, customers and
shareholders,” commented Mr. Renz. “We continue to make steady
progress with the commercialization of QTinno™ as our efforts
to enhance market awareness and adoption through our interactions
with clinical trial service providers, sponsors and regulatory
authorities are starting to translate into increasing sales
opportunities which we believe will drive revenue growth and
expansion. In addition, we are working to identify opportunities,
either through strategic partnerships or other relationships, to
source additional capital that will enable us to accelerate the
development and commercialization of our proven 3-D platform
technology in delivering additional solutions which will advance
the ECG as a diagnostic tool.”
Mr. Renz continued, “Specifically, the additional capital will
be focused on the commercialization of our second and third
products, CardioBip™ and Cardio3KG™. Based on the
progress we have made in the development and validation efforts to
date, as well as the size of the potential markets that these
solutions will address, I do not believe the market has
appropriately valued NewCardio, for either our achievements to date
or the potential of our underlying 3-D technology platform. My
recent purchases demonstrate my confidence in our a
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