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Tuesday January 2, 2008
Hathaway (HWYI) to Begin Spin-Off of Subsidiary
Diabetes Detection Inc.
Hathaway's Shareholders to Receive Dividend Shares in Transaction
PALO ALTO, CA--(MARKET WIRE)--Jan 2, 2008 -- Hathaway Corporation
(Other OTC:HWYI.PK - News) announced that its Board of Directors,
as well as the Board of Directors of its subsidiary, Diabetes Detection,
Inc. (DDI), have jointly agreed to begin the process of listing
DDI on the OTCBB to become a fully reporting company. DDI plans
to register with the Securities & Exchange Commission through
an SB-2 Offering. The process should commence in the next few weeks.
Hathaway further announced that upon successful completion of the
listing, the Company's shareholders will receive dividend shares
in the newly listed company, based on a ratio of Hathaway shares
held as of the ex-dividend date. The exact ratio and ex-dividend
date are to be announced.
"DDI has been developing at a remarkable pace, and we are
confident that the timing is now right for it to be spun off as
an independent public entity," stated Paul Lisenby, CEO of
Hathaway. "We were pleased to have rewarded our shareholders
with dividend shares in the spin-off of our first subsidiary, OptiCon
Systems Inc. FINRA should have OptiCon approved shortly and trading
is expected to begin soon. We are now eager to continue executing
our business model by doing the same with DDI, and also for future
subsidiaries that demonstrate a quantum shift in technology and
a readiness to be strong public companies," added Mr. Lisenby.
Hathaway is in active acquisition talks with several potential
new subsidiaries.
About Hathaway:
Hathaway Corporation focuses on acquiring disruptive technologies
in the telecommunications, medical devices, and software fields
that can change or alter the way companies grow and service their
businesses globally. Hathaway provides financial and infrastructural
support to create revenue growth companies, positioning them to
leverage the opportunities such technologies are typically capable
of. Hathaway then offers the company on the public market or facilitates
a buyout. To request further information about Hathaway, please
email us at investors@hathawayglobal.com
About DDI:
Diabetes Detection Inc.'s patent-pending Neuropathy testing technology
converged with communications devices, facilitates the early detection
of Diabetes, which is now in epidemic proportions, affecting 140m
people worldwide, and predicted to grow to 300m in 25 years (Source:
WHO).
Forward-Looking Statements
This press release may contain forward-looking statements covered
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements relate to, among other
things, plans and timing for the introduction or enhancement of
our services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact and involve risks and uncertainties. Our expectations regarding
future revenues depend upon our ability to develop and supply products
and services that we may not produce today and that meet defined
specifications. When used in this press release, the words "plan,"
"expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes
in technology and changes in pervasive markets.
Contact:
FutureTechIR for Hathaway Corporation
Investor Relations
(817) 812-2105
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