John Antonio, CEO of Wellstar International, Inc. (OTCBB:WLSI), today issued the following statement:
As the CEO of Wellstar, I wanted to take the time to update all of our shareholders with the current status of the company, as well as the direction of where the company is headed.
First and foremost are the Duke Study results. The study was designed to determine that long-wave infrared imaging can be used to identify skin temperature changes associated with underlying tissue changes. We wanted to determine if the use of Long Wave infrared imaging is as effective as the Braden Score in predicting nosocomial pressure ulcers.
As the study has been completed for sometime, the results were put on hold for non-payment. In December 2008, Wellstar was able to make the payment that was due to Duke University. Since that time, we have been awaiting the final report. While the company was late making their payment, Wellstar lost their position of expedience with the final results. Since the payment has been made, we believe there have been great strides in the last few months in compiling the data and putting the data into a final report. Wellstar has received several of the drafts pertaining to the final report for publishing. Wellstar believes that the final results of the study will be published within the next 30 to 60 days.
With the publication of the study, Wellstar intends to raise enough capital to be able to run a minimum of two trials within the marketplace. We cannot provide any guarantee that we will be able to successfully raise capital, or if we do raise capital, that it will be on acceptable terms. These two trials will run simultaneously and allow for Wellstar to work out the installation and execution process of our system. It is anticipated that the trials will be for a period of between 90 and 120 days.