TAMPA, Fla., June 29, 2004 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWMD) (formerly Pink Sheets:SWML) is pleased to report that, effective June 25, 2004, its common shares were split on a 2-for-1 basis, thus doubling the number of common shares issued and outstanding with a view to significantly improving the trading liquidity of the Company's common stock. An investor's shareholding of, for example, 25,000 common shares of Southwestern Medical Solutions, Inc., will automatically be doubled to 50,000 common shares as of the June 25, 2004, record date for the stock split.
SWMS president, Richard Powell, noted, "Emerging growth public companies such as ours require a reasonable degree of stock-trading liquidity in order to facilitate an orderly market and assist the Company in expediting various financing alternatives. We believe that this stock split will significantly benefit the Company and its shareholders in the foreseeable future."
ABOUT SOUTHWESTERN MEDICAL
The Company's proprietary Labguard Accucheck(TM) on-site collection & diagnostic testing technology represents a revolutionary approach that ensures greater safety and convenience for diagnostic testing administrators at an attractive, market-competitive price. Currently in the final prototype stage, Labguard Accucheck(TM) has already attracted expressions of strong interest from several major medical-device distribution companies, both in the U.S. and abroad. Management believes that the launch of Southwestern Medical Solutions' promising Labguard Accucheck(TM) system will usher in the second generation of on-site collection and analysis technology. Longer term, the Company intends to develop and/or acquire other proprietary medical devices and technology that represent significant advancement in their respective fields, and to also continue developing strategic distribution alliances that will enhance its presence in the medical technology fields worldwide.
The Multibillion-dollar On-Site Collection And Diagnostic Testing Market
The prevalence of on-site testing in the U.S. of employees, job applicants, military personnel, public service workers, prison inmates/parolees, students & athletes, to detect the use of illicit and/or illegal substances, has exploded during the past decade, creating a dynamic, multibillion-dollar growth industry practically overnight.
Addressing The Problems With Current On-Site Testing Procedures -- The handling of test subjects' bodily fluids poses significant risks to medical personnel and diagnostic test administrators. Extra, "unnecessary" steps in current collection and analysis procedures heighten the risk of exposure to fluid-borne pathogens. The Company's technology reduces the number of steps in that process, thus increasing efficiency while lowering risks to healthcare workers and test administrators by an appreciative margin. Given the critical need for higher safety and greater efficiency in on-site testing, the management of Southwestern Medical Solutions is confident that its Labguard Accucheck(TM) has the potential to quickly garner an important share of the very large on-site testing market.
FOR FURTHER INFORMATION: Richard Powell Southwestern Medical Solutions, Inc. 13014 N. Dale Mabry Tampa, FL. 33618 1-877-576-0936 SWML@ureach.com www.swmsinc.com
The statements made in this press release, which are not historical facts, contain forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.