February 23, 2007
NASD Clears Medical Technology & Innovations Inc. To Resume Trading On the OTC Bulletin Board
Medical Technology & Innovations Inc. (OTCBB:MTIV) resumes trading today on the OTC Bulletin Board under the symbol "MTIV." The return of Medical Technology to the OTCBB after a three year hiatus followed the audit of its financials for those years and completion of all of the requisite SEC filings.
Since September 2006, Medical Technology has been developing its wholly owned subsidiary, itLinkz Corporation. itLinkz is a new technology company that has developed a patent-pending software platform to be used in Web 2.0 social networking applications. The Company plans to use this platform to develop and manage social networking Websites targeted at a wide variety of demographic groups. Each Web site launched by itLinkz will feature the name "Linkup" as a common identity and will target users defined by a specific profession, hobby, or special interest. itLinkz's innovative technology platform integrates all crucial Web 2.0 applications, including community building, interactive networking, content generation, blogging, tagging, photo and video sharing, chats, instant messaging, and more.itLinkz's goal is to make it possible for people with common interests to build energized and engaged online communities around these interests. At the same time, the congregation of these communities at one site will give marketers unprecedented ability to reach tightly focused market niches with their online advertisements. The first itLinkz Linkup site, launched on January 31, 2007, is www.NurseLinkup.com. Nurse Linkup is designed to give nurses everything they need to connect and network online. In the coming months, itLinkz plans to launch additional networking websites aimed at golfers, fishermen, equestrians, firefighters and cyclists -- to name just a few.
itLinkz is also in discussions with the sponsors of existing Web sites regarding a license of the itLinkz technology. By using the itLinkz software platform, existing Web sites could provide social networking resources to a more traditional member base. In this way, sites that have historically acted as content publishers would be able to offer a full range of features enabling users to contribute content and build communities utilizing interactive technologies such as blogs, photo and video sharing, and other Web 2.0 innovations included in the itLinkz platform.
The new venture has been funded through a $1 million seed capital investment by Growth Capital Resources, LLC of which Jeremy P. Feakins, MTIV's Chairman and CEO, is the Managing Partner and a majority owner.
"We're pleased to announce that we have been cleared for trading by the NASD," says Jeremy P. Feakins, Chairman and Chief Executive Officer of MTIV. "We believe social networking is a burgeoning business opportunity that will continue to expand into the future. Certainly the dramatic rise of social networking sites over the past couple of years supports that notion. With our advanced technology and our experienced management team, we're confident that Medical Technology & Innovations and itLinkz are well positioned to assume a significant role in the development of online communities."
FORWARD-LOOKING STATEMENT DISCLAIMER
This press release contains certain "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. These statements represent the current beliefs of the Company's management, based on the information currently available to them. Whether management's expectations regarding the future are realized will depend on factors that are, in whole or part, outside management's control, including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors, the interest rate environment, governmental regulation and supervision, seasonality, the effectiveness of distribution networks, the timing of product introductions and acceptance, competitive technologies, changes in industry practices, as well as unforeseen events. Should any one or more of these risks or uncertainties materialize, or should any of management's underlying assumptions prove incorrect, actual results may vary materially from those described herein.