Decision Diagnostic Corp. (Formerly InstaCare) Announces 10% Stock Dividend
LOS ANGELES, Dec. 6, 2011 /PRNewswire/ -- Decision Diagnostics Corp., formerly known as InstaCare Corp. (OTCQB: ISCRD), a leading provider of prescription diagnostics, home testing products for the chronically ill, a leading fulfillment provider of direct to patient diabetes programs, and a leading developer of revolutionary cell phone centric e-health products and technologies, today announced that the Board of Directors has approved the payment of a 10 percent stock dividend to all shareholders of record as of December 20, 2011. The dividend will be payable to shareholders of record no later than December 31, 2011.
Decision Diagnostics also announced that management is in the process of evaluating potential acquisitions to bolster the company's competitive position. The Board is committed to streamlining and simplifying the company's capital structure for the benefit of shareholders and to help improve the company's M&A capabilities. Accordingly, the Board has decided to reduce the authorized share count from 1.75 billion to approximately 495 million (494,995,000).
Mr. Berman, CFO and Secretary commented, "We are moving earnestly to complete the strategic initiatives necessary to position Decision Diagnostics Corp. for a national listing on a major exchange. This proposed national listing, and our improved capital structure, are appropriate for a company of our size with the growth dynamics we have before us. Our position as a full-service provider of a wide and growing range of at-home diagnostics, poised to become a major player in the $20 billion worldwide market for at-home testing of blood glucose. A national listing will significantly enhance the visibility of our stock and improve liquidity, both to the long-term benefit of our loyal shareholders. In addition, the Board of Directors wanted to reward our shareholders with a one-time 10% stock dividend, and we are excited to announce that today."
Mr. Berman concluded