SANTA CLARA, Calif., Sept. 2 /PRNewswire-FirstCall/ -- NewCardio (OTC Bulletin Board: NWCI) a cardiac diagnostic technology provider, today announced that Vincent Renz, Jr., NewCardio's President and CEO, purchased 128,000 shares during his trading window in open market transactions in the two weeks following the Company's filing of its SEC Form 10-Q and earnings conference for the second quarter ended June 30, 2010.
"As discussed on our August 12, 2010 investor conference call, we are focused on the underlying fundamentals that will enable us to create long term value for our employees, customers and shareholders," commented Mr. Renz. "We continue to make steady progress with the commercialization of QTinno™ as our efforts to enhance market awareness and adoption through our interactions with clinical trial service providers, sponsors and regulatory authorities are starting to translate into increasing sales opportunities which we believe will drive revenue growth and expansion. In addition, we are working to identify opportunities, either through strategic partnerships or other relationships, to source additional capital that will enable us to accelerate the development and commercialization of our proven 3-D platform technology in delivering additional solutions which will advance the ECG as a diagnostic tool."
Mr. Renz continued, "Specifically, the additional capital will be focused on the commercialization of our second and third products, CardioBip™ and Cardio3KG™. Based on the progress we have made in the development and validation efforts to date, as well as the size of the potential markets that these solutions will address, I do not believe the market has appropriately valued NewCardio, for either our achievements to date or the potential of our underlying 3-D technology platform. My recent purchases demonstrate my confidence in our a