DELRAY BEACH, Fla., March 11, 2005 (PRIMEZONE) -- Hard to Treat Diseases, Incorporated (HTTD) (Pink Sheets:HTDS) announces today that negotiations and mediation with Ronald Shinn, Gerry Knight, and Shinn Capital Group regarding the current business-related dispute are being scheduled to occur in the near future. The scheduling is being coordinated so that all the parties, their counsel, and the mediator are available to participate. The scheduling of mediation and discussions comply with the Court's Order referring the parties to mediation, but also reflects the Court's recommendation to seek a negotiated resolution. As the Company has continually maintained, a negotiated business resolution would be in the best interests of the parties and HTTD's shareholders.
If an immediate resolution can be reached, further litigation can be avoided and HTTD can implement its stated business plan, which is exploring the viability of entering into a direct business relationship with a major drug company. Resolution of this litigation is required to move HTTD forward effectively with this plan and maximize shareholder value. The Company is fully confident in the judiciary and the legal process under which HTTD is proceeding; however, an immediate resolution will end this dispute more economically and allow the parties to exercise some control in the outcome of the settlement.
If negotiations and continued mediation are unsuccessful, this action remains pending on the Court's trial docket commencing May 2, 2005. More specifics regarding the trial date will be available after the call of the Court's calendar, which is scheduled for Friday, April 22, 2005 at 2:00 p.m.
Management's intention and goal with this litigation is to resolve the current dispute in the most efficient and economical manner to provide the maximum benefit to the Company and to HTTD's shareholders.
HTTD's shareholders and investors will be kept informed of all public developments as they occur regarding the above matters. In order to ensure the confidentiality of the Company's business and legal strategies, certain specific information may not be immediately available. Once such information can be revealed, it will be publicly disclosed to all shareholders.
HTTD is currently involved in litigation regarding the rights to Tubercin(r). Additional information and details regarding the litigation can be viewed at our website at: www.htdsotc.com
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.