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Tuesday September 11, 2007
Hathaway's (HWYI) Subsidiary, Diabetes
Detection Inc. (DDI), Completes Second-Generation Prototype
Company Looks to Deliver Technology to 75 Million Diabetes
and Pre-Diabetes Patients in US Alone
PALO ALTO, CA--(MARKET WIRE)--Sep 11, 2007 -- Hathaway Corporation
(Other OTC:HWYI.PK - News), a company that focuses on acquiring,
developing, and managing disruptive technologies in the telecommunications,
medical devices, and software fields that change the way companies
grow and service their business globally, has announced that its
subsidiary, Diabetes Detection Inc. (DDI), has completed its second-generation
pager prototype, and is preparing to go to clinical trials.
DDI is a next-generation medical device company addressing the
Diabetes epidemic worldwide through the diagnosis and monitoring
of Neuropathy -- an early sign of Diabetes.
DDI's first product, its patent-pending Neuropathy testing technology
converged with a pager that is widely used in the medical field,
has been co-developed with Daviscomms (S) Pte. Ltd., a worldwide
leading communications device manufacturer.
"We are pleased with the incredibly quick progress on the
development of the pager, and expect a final prototype, one that
will permit DDI to proceed to clinical trials, and submission of
a 510(k) application for FDA clearance, within a matter of weeks,"
said Sadruddin Currimbhoy, COO of Hathaway.
DDI's business model includes the deployment of several innovative
product lines incorporating its patent-pending Neuropathy testing
technology, which include the pager, a Smartphone/PDA using RIM's
BlackBerry or similar device, and several unique consumer products.
DDI expects its revenues to grow to $26m in its third year, $78m
in its fourth year, and continue growing exponentially thereafter.
20.8m people in the US, or nearly 7% of the population, have Diabetes.
A further 54m have pre-Diabetes (Source: ADA). DDI's consumer products,
which will include Smartphones, will deliver its Neuropathy diagnostic
and monitoring technology to these 75m potential users in the US,
and many millions more worldwide.
About Hathaway
Hathaway Global Inc. 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. Through companies like OptiCon, Hathaway brings the communication
solutions of the future to today's business marketplace. To request
further information about Hathaway, please email us at investors@hathawayglobal.com
Safe Harbor
This release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 27E of
the Securities Act of 1934. Statements contained in this release
that are not historical facts may be deemed to be forward-looking
statements. Investors are cautioned that forward-looking statements
are inherently uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation, ability to
obtain financing and regulatory and shareholder approvals for anticipated
actions.
Contact:
FutureTechIR for Hathaway Corporation
Investor Relations
(817) 812-2105 or
(727) 417-9338
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