DiaSys Corp. Announces Resignation of Todd DeMatteo.Business Editors & Health/Medical Writers WATERBURY, Conn.--(BUSINESS WIRE)--Feb. 5, 2003 DiaSys Corporation (AMEX AMEX See: American Stock Exchange : DYX DYX Dyslexia ), a global health care products company, today reported that Mr. Todd DeMatteo has resigned as an employee, the Company's President, a Director of the Company and a Director of DiaSys Europe Ltd. effective Thursday, January 28, 2003. Mr. DeMatteo, a co-founder, had been active with DiaSys since its inception. He continues to be the Company's second largest individual shareholder. Marshall Witzel, DiaSys' recently appointed Chief Executive Officer, commented: "We are, on the one hand, genuinely sorry to see Todd DeMatteo leave. He has nurtured and arduously served this Company over the years. On the other hand, we are extremely pleased that Todd, as a significant shareholder and friend of the Company, will continue to consult with DiaSys on internationally related sales programs, as the Company continues its trend toward profitability." Todd DeMatteo said, "In 10 short years we have taken DiaSys from a concept to a global health care products company with numerous patents and multiple international markets. We have achieved notable growth and I believe that our progress will continue under the guidance of Morris Silverman Morris "Marty" Silverman (1912 - 2006) was a Jewish-American philanthropist and businessman who donated millions of dollars to causes worldwide, mainly in health and science sectors. , our new Chairman, Marshall Witzel, our new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and our new Board of Directors." DiaSys Corporation designs, develops, manufactures and distributes proprietary medical laboratory equipment, consumables and test kits to healthcare laboratories worldwide. Headquartered in Waterbury, CT, the Company operates in Europe through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. based in Wokingham, England and in Pacific Asia through its strategic business partner located in Guangzhou, China. This press release contains forward-looking statements within the meaning of, and made pursuant to, the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or events, or timing of events, relating to the Company to materially differ from those expressed or implied by such forward looking statements. DiaSys refers interested parties to its most recent Annual Report on Form 10-KSB and other SEC filings for a complete description of, and discussions about, the Company. |
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