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Monday Octoberr 29, 2007
Hathaway (HWYI) Updates Shareholders on
OptiCon Spinoff and Rapid Progress of DDI
OptiCon Issues Annual Report; DDI's Third Prototype Ready
SAINT PETERSBURG, FL--(MARKET WIRE)--Oct 29, 2007 -- Hathaway Corporation
(Other OTC:HWYI.PK - News) announced that its subsidiary OptiCon
Systems Inc. has issued its Annual Report or Form 10-KSB. The Annual
Report, together with all of OptiCon's filings, is available for
viewing on the EDGAR system with the SEC at www.sec.gov.
The Company also announced that it has completed its second response
to FINRA, which it plans to submit to FINRA within two days. OptiCon
cannot predict when the SEC may complete commenting on the registration
or when FINRA will issue a trading symbol. Subject to FINRA's approval
for publication of initial quotations, OptiCon is hopeful a vigorous
public market will develop for OptiCon common stock.
"We have made every effort to fulfill all of the SEC and FINRA
requirements in an accurate and timely manner, and are optimistic
that this will facilitate the completion of the listing process
shortly," said Sadruddin Currimbhoy, Hathaway's Chief Operating
Officer.
Hathaway also simultaneously announced that its second subsidiary,
Diabetes Detection Inc. (DDI) has completed the third prototype
of its pager incorporating its patent-pending Neuropathy testing
technology.
"The prototype is well ahead of schedule and includes remarkable
functionality that has exceeded our expectations," said Mr.
Currimbhoy. "The prototype is now being evaluated by members
of the physician community. DDI plans to be ready for the commencement
of clinical trials and the submission of its FDA application within
months," he added.
About OptiCon Systems
OptiCon Systems, Inc. offers a premier network management solution
for the physical and logical layer management and fault detection
for fiber optic via software, services, and integrated systems.
OptiCon's state of the art solutions were initially developed and
deployed by Corning Cable.
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 or
(727) 417-9338
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