NEWS!
Shareholder Update
August 4, 2010
The past few months have proven to be a fascinating time to be the CEO of Medizone International. It is clear to me that since the company's inception in 1986, the company has never been so perfectly positioned for previously unimagined levels of success.
In updating shareholders on progress since I wrote the June 28th Shareholder Update from the Chairman, the most direct way of putting it is by saying everything mentioned in that update has moved forward significantly.
Relative to government activity, on June 28th I had written, "Due to the sensitivity of some of the subject matter, shareholders should not expect any further information to be forthcoming for some time in this area." While that statement remains true today, and at this time we are not in a position to offer specifics, I must say that both Dr. Shannon and I, as well as the entire board of directors, could not be more pleased with both the level of interest being shown and supportive steps being initiated from very high levels of government, relative to the potentiality of AsepticSure™ and support for specific development programs.
On July 7th, the Patent Cooperation Treaty (PCT) filing was announced. The significance of that filing should not be underestimated. It represents the international cornerstone of intellectual property protection for AsepticSure™. In subsequent discussions with our lead patent attorney, additional filings have been suggested in order to build a very strong "patent fence" around our initial PCT application. The first of those filings may be anticipated later this year.
Shareholders have been inquiring when the hospital beta testing will start? Earlier, we had anticipated the start of beta testing before the end of June, with the first phase completed approximately mid-July, well before the August summer vacation period. Unfortunately, that time line simply did not work out. The various hospital committees required for approval took significantly longer than we had anticipated. Key members of both the hospital administration as well as our own staff in Canada, are now on their traditional summer holiday break until later in August. However, prior to vacations we overcame all hurdles and are now in full agreement on how to proceed. The process of identifying the progression of rooms to be sterilized and finalizing the actual in-hospital protocols to be used for this specific hospital is complete. These detailed preparatory steps are considered very important so that as we add additional beta-test sites in the US, we will have a good understanding of the most desirable and practical approach to use, thus saving time. In short, we have agreed to the start of beta testing the week after all key people have returned from vacation, the fourth week of August.
As I said at the beginning of these comments, it has been a fascinating time to be the CEO of Medizone. I feel blessed to have so many special people and institutions associated with our company, to see the progress first hand, and to own the vision of an extremely bright future.
Best wishes,
Edwin G. Marshall
Chairman of the Board
Chief Executive Officer
Medizone International, Inc., is a research and development company engaged in developing its AsepticSure™ System to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other critical infrastructure. A government variant is being developed for bio-terrorism counter measures.
This Release may contain certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations Contact:
Jack Eversull
The Eversull Group, Inc.
972-571-1624
jack@theeversullgroup.com