Canton, CT, Nov. 5, 2013 (GLOBE NEWSWIRE) -- Kelyniam Global Inc. (OTC: KLYG) has successfully resolved the lawsuit with former employee John Mastoloni. Per terms of the settlement agreement, details are confidential. President & CEO Tennyson Anthony stated, "While we cannot disclose details, shareholders should be pleased to know that the matter was resolved for only a fraction of the amount the company had set aside."
As mentioned in the most recent earnings release, Kelyniam will be announcing a new product, expected within the next 2 months.
A bout Kelyniam Global, Incorporated
Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use of CAD/CAM technology to provide patient specific custom implants to assist medical professionals by allowing them to operate more effectively, improve patient care, and reduce health care costs by providing the highest quality products available with today's technology. The company is continually researching and developing new products and processes to help patients live more active and productive lives.
Please visit our website at www.kelyniam.com for more information.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
Source:Kelyniam Global Inc.