EnXnet, Inc. (EXNT.OB) recently updated shareholders with its business operations.
The Company has been making rapid progress in two distinct areas over the past months. The Corporate Update focused mainly on both the Multimedia Gift Card(TM) and their obtained foreign object detection system for use in medical operating rooms.
The most significant news discussed was regarding the Multimedia Gift Card(TM) and the fact that EXNT is now ready to begin delivering product in time for the 2007 Holiday Season.
The Company described how EXNT’s ThinDisc(TM) technology makes this new gift card possible and how the Company believes that this is the only multimedia solution to the current static gift card market. The Company CEO went on to detail how the deep level of interactivity the Multimedia Gift Card(TM) provides marketers an unprecedented format to speak one-on-one with their customers.
Mr. Corley continued with an update on the Medical D-Tect-OR, LLC obtained foreign object detection system. This system is designed to locate any operating room disposables or surgical instruments to avoid them being left inside the human body after an operation. Mr. Corley stated that the product has been proven in the laboratory already, but more importantly, field units should be ready for testing by the end of 2007.
Finally, and importantly for the investment community, Mr. Corley addressed questions regarding the company’s capital structure. When asked if there were plans to raise money through the issuance of additional shares, Mr. Corley stated, “At this time, we currently have roughly 30 million shares outstanding and I do not see any significant change in that moving forward.”
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