DECN Enters into an Additional 6 Month $300,000 Promissory Note With Major Current Investor to Further Assist Launch of Genviro Swift Kits for the Detection of the Covid-19 Virus
Decision Diagnostics Corp. (DECN) announced an agreement for a six-month, 8% Promissory Note worth $300,000 with a major investor to support the launch of the GenViro! Swift Kit for Covid-19 testing. Additionally, six existing Promissory Notes with the same investor were extended for an additional four months. The GenViro! Swift Kit is set for release on September 26, 2020, in selected international markets. DECN continues to develop diabetic test strips and expand distribution agreements across various international regions.
- Secured a $300,000 6-month Promissory Note at 8% interest to fund product launch.
- Extended existing Promissory Notes for an additional four months.
- Scheduled release of the GenViro! Swift Kit on September 26, 2020, in international markets.
- No conversion rights included in the new Promissory Note.
- GenViro! Swift Kit is not yet available in the U.S. or Puerto Rico.
LOS ANGELES, CA / ACCESSWIRE / September 15, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) through its subsidiary Pharma Tech Solutions, Inc. the manufacturers and design specifiers for the :10.5 GenViro! Professional Swift Kit for testing Covid-19 testing, today announced that it has entered into agreement with a major investor for a six month
Separately the company has announced that six existing Promissory Notes with the same investor have been extended for an additional four (4) months each. The new Note and the previous Notes are for payment of principal and interest only. No conversion rights are included. The company had previously announced that the GenViro! Swift kit will be available for sale on September 26, 2020 in select International venues.
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a
Forward-Looking Statements:
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of September 14, 2020, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
CONTACT INFORMATION:
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
info@decisiondiagnostics.co
www.genultimate.com
www.genultimatetbg.com
www.pharmatechdirect.com
SOURCE: Decision Diagnostics Corp.
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https://www.accesswire.com/606026/DECN-Enters-into-an-Additional-6-Month-300000-Promissory-Note-With-Major-Current-Investor-to-Further-Assist-Launch-of-Genviro-Swift-Kits-for-the-Detection-of-the-Covid-19-Virus
FAQ
What is the purpose of the new Promissory Note announced by DECN?
When will the GenViro! Swift Kit be available for sale?
What is the amount of the new Promissory Note issued by Decision Diagnostics?
Are there any conversion rights associated with the new Promissory Note?
Is the GenViro! Swift Kit available in the U.S.?
