Message #8 From:
NewsBot Date: January 2, 2008 08:15:55 AM
Hathaway Begins Spinn off of Subsidiary
Hathaway's Shareholders to Receive Dividend Shares in Transaction
Hathaway Corporation
(PINKSHEETS: HWYI)
announced that its Board of Directors, as well as the Board of Directors of
its subsidiary, Diabetes Detection, Inc. (DDI), have jointly agreed to
begin the process of listing DDI on the OTCBB to become a fully reporting
company. DDI plans to register with the Securities & Exchange Commission
through an SB-2 Offering. The process should commence in the next few
weeks.
Hathaway further announced that upon successful completion of the listing,
the Company's shareholders will receive dividend shares in the newly listed
company, based on a ratio of Hathaway shares held as of the ex-dividend
date. The exact ratio and ex-dividend date are to be announced.
"DDI has been developing at a remarkable pace, and we are confident that
the timing is now right for it to be spun off as an independent public
entity," stated Paul Lisenby, CEO of Hathaway. "We were pleased to have
rewarded our shareholders with dividend shares in the spin-off of our first
subsidiary, OptiCon Systems Inc. FINRA should have OptiCon approved
shortly and trading is expected to begin soon. We are now eager to
continue executing our business model by doing the same with DDI, and also
for future subsidiaries that demonstrate a quantum shift in technology and
a readiness to be strong public companies," added Mr. Lisenby.
Hathaway is in active acquisition talks with several potential new
subsidiaries.
About Hathaway:
Hathaway Corporation focuses on acquiring disruptive technologies in the
telecommunications, medical devices, and software fields that can change or
alter the way companies grow and service their businesses globally.
Hathaway provides financial and infrastructural support to create revenue
growth companies, positioning them to leverage the opportunities such
technologies are typically capable of. Hathaway then offers the company on
the public market or facilitates a buyout. To request further information
about Hathaway, please email us at investors@hathawayglobal.com
About DDI:
Diabetes Detection Inc.'s patent-pending Neuropathy testing technology
converged with communications devices, facilitates the early detection of
Diabetes, which is now in epidemic proportions, affecting 140m people
worldwide, and predicted to grow to 300m in 25 years (Source: WHO).
Forward-Looking Statements
This press release may contain forward-looking statements covered within
the meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to, among other things, plans and timing
for the introduction or enhancement of our services and products,
statements about future market conditions, supply and demand conditions,
and other expectations, intentions and plans contained in this press
release that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability to
develop and supply products and services that we may not produce today and
that meet defined specifications. When used in this press release, the
words "plan," "expect," "believe," and similar expressions generally
identify forward-looking statements. These statements reflect our current
expectations. They are subject to a number of risks and uncertainties,
including, but not limited to, changes in technology and changes in
pervasive markets.
Contact:
FutureTechIR for Hathaway Corporation
Investor Relations
(817) 812-2105
