Among those holders electing to exercise their warrants were five (5) of
HDI’s seven (7) directors, who collectively exercised their warrants to
purchase $267,690 of Common Stock and Preferred Stock. The warrants had
an effective exercise price of $0.17 per share while the stock price had
been trading in the $0.13 to $0.15 range over the last several weeks.
The capital will be used to expand market penetration of the
CVProfilor®, HDI’s medical device that helps doctors save lives through
early detection of cardiovascular disease. The CVProfilor measures the
elasticity of small and large arteries, a key indicator of vascular
health. It provides valuable clinical information to enable physicians
to provide individualized therapy to arrest the progression of
cardiovascular disease.
“I believe that the recent exercises of warrants at prices above the
current market further demonstrate that our investors and management are
strongly committed to our prospects for growth and profitability, even
though the trading value of our stock was below the exercise price on
the warrants,” said Mark Schwartz, Chairman and CEO of HDI. “Our
pipeline of new business has produced some exciting results in the last
few months that should bode well for continued revenue growth in
subsequent quarters.”
The Common Stock and the Preferred Stock have not been registered under
the Securities Act of 1933, as amended (the “Act”), or state securities
laws, and may not be offered or sold in the United States absent
registration with the U.S. Securities and Exchange Commission under the
Act, or an applicable exemption therefrom. The Company has granted
certain registration rights covering all of the Common Stock and
Preferred Stock sold in the offering to the investors. Net proceeds from
the offering will be used primarily for working capital purposes and to
expand the Company’s sales and marketing efforts of its CardioVascular
Profiling Systems.
Hypertension Diagnostics, Inc. is helping doctors save lives by reducing
the risk of cardiovascular disease with its CVProfilor. The CVProfilor
determines risk for cardiovascular disease by measuring the health of
small and large arteries. These vascular parameters provide physicians
with clinically beneficial information useful in screening patients who
may be at risk for cardiovascular disease, assist physicians with their
diagnosis of patients’ cardiovascular disease, and allow physicians to
more intelligently individualize therapy designed to reduce risk in
patients diagnosed with cardiovascular disease. More information is
available at www.hdii.com.
Forward-looking statements in this press release are made under the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. The Company wishes to caution readers not to place undue reliance
on any forward-looking statements and to recognize that the statements
are not a prediction of actual future results. Actual results could
differ materially from those presented and anticipated in the
forward-looking statements due to the risks and uncertainties set forth
in the Company’s 2003 Annual Report on Form 10-KSB, as amended, and
subsequent Quarterly Reports on Form 10-QSB, all of which were filed
with the U.S. Securities and Exchange Commission, as well as others not
now anticipated.
CVProfilor is a registered trademark of Hypertension Diagnostics, Inc.
Hypertension Diagnostics, HDI/PulseWave, PulseWave and CVProfile are
trademarks of Hypertension Diagnostics, Inc. All
rights reserved.
Website: www.HDII.com
Contact: Mark Schwartz, CEO
651-687-9999
