Applies to -- COX -- ESTG
ELAST Technologies Announces Immediate Chiropractic Market Opportunity for Its ELAST Device
ELAST Technologies Announces Immediate Chiropractic Market Opportunity
for Its ELAST Device
6 LAS VEGAS, Aug 17, 2000 (BUSINESS WIRE) -- ELAST Technologies, Inc., (OTC-BB:
ESTG) www.elast.com announced this afternoon that it will be working with the
World Chiropractic Alliance to market the ELAST Device(TM) in its current stage
of development to chiropractors. The World Chiropractic Alliance ("WCA"),
founded in 1989, is a non-profit "watch-dog" and advocacy organization, which
represents more than 60,000 chiropractors worldwide (approximately 50,000 in the
US). The WCA has determined that, in its current stage of development, the ELAST
Device(TM) can provide vital measurements to the chiropractic practitioner and
WCA Founder and President Terry A. Rondberg, D.C., has agreed to assist ELAST
Technologies in the marketing of the Device to the chiropractic community. 6 The
ELAST Device(TM) is a patented, non-invasive diagnostic tool designed to
accurately diagnose allergies, as well as food and chemical sensitivities
immediately without any of the pain or expense associated with currently
employed testing methods. The ELAST Device(TM) is being designed to test for
allergies and sensitivities non-invasively through means of simple exposure and
is based upon the clinical observation that the normal flow of electricity in
the human body is altered when its immune system is exposed to a substance to
which it is sensitive or allergic. 6 The non-invasive nature of the ELAST
Device(TM) is possible because the device measures the body's electrical
response when it is exposed to an allergen. It is this very measurement of the
body's electrical responses that is of great use to the chiropractic community.
Chiropractors have long sought objective means to measure and thereby validate
their treatment protocols. The ELAST Device's ability to measure the body's
electrical response is such an objective test. 6 Thomas F. Krucker, ELAST
President and CEO, announced this marketing opportunity this afternoon during
his address to the members of the Regional Investment Bankers Association (RIBA)
during its Chicago Capital Conference at the Ritz Carlton Four Seasons Hotel.
Mr. Krucker stated, that even with very conservative financial assumptions, the
chiropractic market can provide a strong revenue stream for the Company in the
near term. With the assistance of the WCA, ELAST Technologies is confident that
the WCA's member chiropractors will be quite eager to use the ELAST Device(TM)
in their practices, and by employing a leasing program coupled with a fee per
test the cost would be minimal to the chiropractor. ELAST Technologies projects
total revenues for the first year, based on 500 units leased, to approximate
$4.5 million. 6 ELAST Technologies, Inc., is a research and development
enterprise whose primary business is the development of the ELAST Device(TM).
The U.S. allergy testing market is estimated to be a $6 billion annual market
(and is estimated to be a $12 billion annual market worldwide).
6 This news release contains forward-looking statements. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performance and underlying assumptions and other statements
that are other than statements of historical facts. These statements are subject
to uncertainties and risks including, but not limited to, product development
and consumer demand and acceptance, changes in technology, ability to raise
capital, the availability of appropriate acquisition candidates and/or business
partnerships, economic conditions, impact of competition and pricing, capacity
and supply constraints or difficulties, government regulation and other risks.
All such forward-looking statements whether written or oral, and whether made by
or on behalf of the Company are expressly qualified by these cautionary
statements and any other cautionary statements which may accompany the
forward-looking statements. In addition, the Company disclaims any obligation to
update any forward-looking statements to reflect events or circumstances after
the date hereof.
CONTACT: ELAST Technologies, Inc., Las Vegas
Michael Nanry, 877/ELASTEC (877/352-7832)
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