WESTLAKE VILLAGE, Calif., Dec. 8, 2004 (PRIMEZONE) -- On December 3, 2004, QT 5, Inc. received a certified copy of a certificate of Amendment of its Articles of Incorporation filed November 18, 2004, with the State of Delaware changing the name of the corporation to Addison-Davis Diagnostics, Inc. (OTCBB:ADDI).
The amendment also effectuated a one to 150 reverse split of its common shares. Reflecting the reverse split, as of December 3, 2004 the total outstanding common shares of Addison-Davis Diagnostics, Inc. was approximately 3,600,000 shares. The Company now trades on the OTCBB under the symbol ADDI.
The Company is also pleased to announce the formation of a new management team led by its new Chief Executive Officer, Edward W. Withrow, III, and his vision for the Company to lead in fulfilling the expanding global need to rapidly test for diseases and medical conditions, in order to identify where and when they exist and to further enable the medical community to act upon such information in a timely manner.
About Addison-Davis
Addison-Davis is currently focused on bringing fast and reliable "Point-of-care" Diagnostic Testing through the use of its patented technology to Healthcare Professionals, Hospitals, Minor Emergency Centers, Ambulance, Para-Medics and all branches of the Government for the most common and time sensitive medical conditions and diseases. ADDI has licensed the patents to proven Point-of-care quick-test devices and analyzers (many are already Food and Drug Administration ("FDA") 510(k) cleared), which easily evolve and adapt to the rapidly changing professional and governmental healthcare market. For more information about Addison Davis Diagnostics, Inc visit: www.addisondavis.com
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or prove incorrect, could cause the results of Addison-Davis Diagnostics, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the reports filed by Addison-Davis Diagnostics, Inc. with the Securities and Exchange Commission. Addison-Davis Diagnostics, Inc. assumes no obligation and does not intend to update these forward-looking statements.