DiaSys Corp. Elects Morris Silverman to Expanded Board.Business Editors WATERBURY, Conn.--(BUSINESS WIRE)--Nov. 12, 2002 DiaSys Corporation (AMEX AMEX See: American Stock Exchange :DYX DYX Dyslexia ) today announced that Morris Silverman has been appointed to the Board of Directors, thereby expanding the DiaSys Board to seven members. Mr. Silverman is a significant shareholder in DiaSys. Mr. Silverman has numerous years of experience in strategic planning and operations, both within and outside the medical community. He was the Chairman of Medical Financial Services, an accounting and receivable financing company for the medical profession. As Vice President of Operations for Petrie Stores, a New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. Company, he successfully designed and executed the expansion programs necessary to grow Petrie into one of the largest retail chains in North America. Mr. Silverman is currently the majority owner and Chairman of MS Management Corporation, a private banking company with over 250 branches nationwide. Todd M. DeMatteo, DiaSys president and 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. , said, "Our Board members are chosen because of the talent and unique skill sets that they can bring to the Company. In this connection, we expect Morris' assistance will significantly enhance the implementation of our strategic growth strategy." 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. DiaSys is a registered trademark of DiaSys Corporation. The foregoing press release includes "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. Such 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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