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Hathaway Corporation's (HWYI) Diabetes Detection, Inc. (DDI) Enters Alliance Agreement with Research In Motion (RIM) to Further Develop DDI's Diagnostic Technology on the BlackBerry(R)
Wednesday November 15, 2006
HWYI Furthers Its Business Plan by Preparing DDI for a Spin-Off After the Completion of Our First Spin-Off, OptiCon Systems Inc., by 2nd Quarter 2007
Hathaway Corporation announced today that its wholly owned subsidiary, Diabetes Detections, Inc (DDI), has entered into an alliance agreement with Research In Motion under RIM's BlackBerry® ISV Alliance Program. The alliance advances DDI's commitment to providing a platform for the early detection of diabetic neuropathy, often an early sign of the onset of diabetes, utilizing leading communications devices such as the BlackBerry®. The platform is designed to work seamlessly with BlackBerry® from Research In Motion (RIM).
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.
DDI's Vibrameter provides a dual function for electronic communication devices, such as beepers, pagers or cellular phones, as a medical diagnostic tool for detecting and/or monitoring neuropathy. The Device allows a health care professional to perform a quick and accurate test to determine neuropathy in patients. The Device produces instant results allowing the health care professional to refer the subject for further diagnostic evaluation, thereby assisting in the early detection of diabetes. For more information, please visit .
"We are ecstatic that DDI has joined the BlackBerry® ISV Alliance Program," said Paul Lisenby, C.E.O. of Hathaway Corporation. "The BlackBerry handset is a natural platform for our Vibrameter device that is used to detect neuropathy conditions. Working with a company of the caliber of Research In Motion is a tremendous step forward for DDI's corporate development and we look forward to additional progress with Research In Motion as we continue to advance DDI's business model and bring tremendous shareholder value to Hathaway."
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.
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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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