Wearable Health Solutions Inc. Cancels 48,989,000 Million Shares of its Float, Reducing Outstanding Shares by Almost 10% from a 3(a)10 Transaction.
Wearable Health Solutions Inc. (WHSI) announced the cancellation of 48,989,000 shares from its 3a10 program, aimed at reducing outstanding shares by nearly 10%. This move is part of a broader strategy to alleviate debt and restructure its balance sheet through an SEC-qualified Regulation A offering initiated in November 2020. The company is focused on enhancing its product lineup, including the launch of the iHelp MAX, a telehealth-ready medical alert device equipped with fall detection and geo-fencing capabilities. WHSI has sold approximately 15,000 medical alarm units to date.
- Cancellation of 48,989,000 shares reduces outstanding shares by nearly 10%.
- New product launch: iHelp MAX includes advanced features like fall detection and geo-fencing.
- Telehealth-ready device enhances remote monitoring capabilities.
- Sold approximately 15,000 medical alarm units to date, indicating market demand.
- None.
KING OF PRUSSIA, PA / ACCESSWIRE / April 15, 2021 / Wearable Health Solutions Inc. ("WHSI", or the "Company") (OTC PINK:WHSI), a manufacturer and developer of personal monitoring technology focused on mobile alert and tracking devices for emergency medical and occupational safety markets worldwide, concentrating on the North American markets recently announced share cancelation from its 3a10 program by canceling 48,989,000 million shares issued several months ago to Trillium, Partners LLC. for purchase of debt claims.
The Company plans to reduce its debt claims and further restructure its balance sheet through it's SEC qualified Regulation A offering that was qualified in November 2020.
About Wearable Health Solutions Inc.
Wearable Health Solutions is a manufacturer of personal security, personal emergency response systems (PERS) and medical alarm devices. Our products are designed and marketed to individuals hospitals, home healthcare scenarios, home security, as well as for lone worker initiatives so employees that work alone or in isolation can summon assistance if their health or safety is threatened.
The Company is implementing a new product called the iHelp MAX. This device is a cellular medical alert system that operates on a 4G network. The iHelp MAX device showcases features and functionalities such as fall detection and geo-fencing (the ability to pre-set an area and alert loved ones if the device user enters or leaves a pre-determined area). The iHelp Max 4G will be telehealth ready and will be ablet o join and speak to multiple devices to enable remote monitoring and data collection of essential vital signs in real-time and with historical values via Bluetooth, NFC, and WiFi technology. WHSI has currently sold approximately 15k medical alarm units to date and is excited to be able implementing its latest medical alert system the iHelp MAX. WHSI is always looking to the future and is researching several wearable technologies (body mounted sensors that monitor and transmit biological data for healthcare purposes) to partner with on this endeavor.
Our Management Team has over 30 years total experience in the business. With our experience in the industry and our innovative technology, WHSI is positioned to become a leader in wearable health devices and health data transmission.
For further information please visit our website at www.wearablehealthsolutions.com.
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the "Act") protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
Wearable Health Solutions Inc.
2300 Yonge St. Sutie 1600
Toronto, ONT M4P1E4
Canada
www.WearableHealthSolutions.com
855-226-4827
info@wearablehealthsolutions.com
SOURCE: Wearable Health Solutions Inc.
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