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Hathaway Corporation's (HWYI) Diabetes Detection, Inc. Furthers Its Corporate Development Efforts
Monday October 30, 2006
Hathaway Corporation announced today that its wholly owned subsidiary, Diabetes Detections, Inc (DDI), has made significant progress in its corporate development efforts.
DDI is in discussions with Research In Motion regarding potential alliance opportunities around the use of the BlackBerry® as the host device for DDI's commercial offering of its Vibrametric diagnostic device.
Paul Lisenby, CEO of Hathaway Corporation: "While we are exploring opportunities with a variety of cellular phone manufacturers and medical device companies, we are particularly interested in developing a relationship with RIM as we believe the BlackBerry® is a great host for our Vibrametric device."
Diabetes is a chronic condition that affects 18.2 million people -- nearly 6 percent of adults and children. National inpatient hospital costs associated with the treatment of diabetes topped $3.8 billion. According to government studies, early detection can reduce this number by $2.8 billion and devices such as the Vibrameter can test for early symptoms of this disease.
BlackBerry® is a registered trademark of RIM and is in no way associated with Hathaway Corporation and or its subsidiaries. The BlackBerry® and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.
About Hathaway Corporation
Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Hathaway continues to seek out and capitalize on emerging technologies. Their first acquisition, OptiCon Systems, was first developed by Corning and sold to their customers. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently marketed and sold by OptiCon Systems Inc. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and Bright House. Through companies like OptiCon and DDI, Hathaway brings the communication solutions of the future to today's business marketplace.
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 approval for anticipated actions.
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