DALLAS, Aug. 21, 2008 (GLOBE NEWSWIRE) -- Direct Pet Health Holdings, Inc. (Pink Sheets:DPHG) today reported it is completing testing of the company's online connectivity with its underwriter, Trupanion, Inc. The new website will feature complete information on all insurance plans available at competitive rates for both individual and business consumers.
"We expect to launch our new website by, or before, mid-September," said Chairman and CEO Michael F. Scaccia. "At that time, those seeking pet health coverage can request their filings directly through our new company website.
"Simultaneously," Mr. Scaccia reported, "we will be adding additional members to our Board of Directors and Strategic Advisory Committee. These will be individuals whose broad business backgrounds include executive positions in the insurance industry. Their collective experience will help us to maintain our planned growth, both internally as well as by acquisition."
The CEO noted that the company will soon announce the retention of a certified auditing firm. Upon completion of its work, Direct Pet Health expects to then be ready to expedite all required documentation to file its application to move the company from the Pink Sheets to the Over the Counter Bulletin Board. Mr. Scaccia said Direct Pet Health would hopefully be able to file this application in late September or early October, and receive a change in trading status by or before the end of this year.
"As suggested in our report last week," Mr. Scaccia said, "we are now starting to accelerate the stepping stones that will be the foundation for a carefully crafted business plan that should be successful in any economic climate. We want to offer current and potential shareholders a strong return on their investments. And we believe that will come from our core pet insurance business, as well as the anticipated acquisition of related revenue-generating products and services as those opportunities arise."
About Direct Pet Health Holdings, Inc.:
Direct Pet Health is positioning itself to become a leader in its industry as the ultimate 'One-Stop-Shop' for pet health care. The company looks to provide its members with health information, pet insurance, and pet care products created for a target market driven by a strong demand for pet health care products and services -- all transacted over the Internet. Additional information on Direct Pet Health Holdings, Inc. is available at http://www.directpethealth.com.
This press release includes forward-looking statements as contemplated under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to, lack of funding for planned activities, difficulties in product development and launch, difficulties arising from management of growth, market place acceptance of certain products and other risks. Direct Pet Health is under no obligation and does not assume any obligation to revise or update any forward looking statement in this press release in order to reflect events or circumstances that may arise in the future.