SAN FRANCISCO, May 5, 2011 /PRNewswire/ -- Cardiac Network, Inc.
(Other OTC:CNWI.PK) (the "Company") today announced that the
Company will effect a 1-for-750 reverse stock split (the "Reverse
Stock Split"). The Reverse Stock Split will take effect on the
opening of business and trading on May 6,
2011 (the "Effective Date"). On the Effective Date, the
Company's trading symbol will be changed from "CNWI" to "CNWID" for
approximately 20 business days, after which it will revert to CNWI.
Upon the effectiveness of the Reverse Stock Split and as of the
Effective Date, there will be approximately 109,345 shares of our
common stock issued and outstanding.
About Cardiac Network:
Cardiac Network, Inc. is a medical technology company that has
participated in cardiac monitoring research projects with hospitals
and has provided cardiac monitoring and diagnostic services to
general practitioners and specialist physicians, for the
investigation of patients with abnormal cardiac rhythm and
function. Past services provided by the company have utilized
unique transtelephonic (by telephone) cardiac recorders that
monitor and provide diagnostic information to physicians and their
patients. Cardiac Network has spent significant funds in an effort
to develop new technologies that could be used easily by
individuals outside of their physician's office to help them
quickly determine if they are having potential cardiac problems and
so that they can obtain needed medical treatment. Learn more about
Cardiac Network, Inc. by visiting
http://www.cardiacnetwork.net.
Forward-looking statements
This press release contains "forward-looking statements."
Forward-looking statements are statements concerning plans,
objectives, goals, strategies, expectations, intentions,
projections, developments, future events, or performance,
underlying (expressed or implied) assumptions and other statements
that are other than historical facts. These forward-looking
statements are only predictions. No assurances can be given that
such predictions will prove correct. Actual events or results may
differ materially. Forward-looking statements should be read in
light of the cautionary statements and risks that include, but are
not limited to, the risks associated with a small company, our
limited financial resources, and the uncertainties of competitive
pressures we face. These or other risks could cause actual results
to differ materially from the future results indicated or implied
in such forward-looking statements. We undertake no obligation to
update or revise such statements. For additional information on
these risks and uncertainties, please refer to our filings on Pink
Sheets.
Contact:
Cardiac Network, Inc.
Michael Swartzburg
415-249-0990
Michaels(at)cardiacnetwork(dot)net
SOURCE Cardiac Network, Inc.