LAS VEGAS, NV -- (Marketwired) -- 07/09/14 -- Cytta Corp. (OTCQB: CYCA) is pleased to announce that it has entered into a Letter of Intent with EraStar, Inc., a Las Vegas based marketing business, to merge the two Companies. EraStar, Inc. is a dynamic marketing company that offers the following services: Marketing for Public Institutions, Public Relations Activities, Product Telemarketing, Support Services, Business Development Consulting, Lead Generation, and more.
With the addition of EraStar's world class operations, management, marketing and logistics team to the Cytta technology team, the combined entity will be well situated to continue servicing existing clientele as well as introduce Cytta technologies to a broader US marketplace.
The launching of the Cytta Doctor Direct program and completed sales to the first two medical practices has been consummated. Cytta has been seeking a full operations team to roll the program out in Las Vegas and ultimately develop a full scale National sales and marketing program. Cytta has also been seeking a telemarketing group to market the Cytta Connect system to Doctors, Family practices and Concierge Medical practices as well as logistics and expanded office space.
When discussing these needs with the EraStar group, it was determined that EraStar was uniquely qualified to supply the majority of the immediate Cytta requirements. In particular the Chief Operating Officer of EraStar had considerable experience in the roll out and introduction of new products and is expected to prove instrumental in assisting Cytta in managing its operations.
Vanessa Luna, Chief Operating Officer of EraStar, stated: "The opportunity to design and implement the full Cytta rollout as the product is being introduced is very exciting. By guiding and designing all the elements of the Cytta operations going forward, I am extremely confident we can handle what I expect will be a major new tele-monitoring technology advance."
The direct telephone outreach needed to contact medical professionals was ideally suited for the well trained EraStar Communications and telemarketing group. With the EraStar team already very familiar with the Cytta Connect system and model, it will not be difficult to seamlessly and very quickly begin marketing the Doctor Direct Cytta Connect systems to the US medical community.
Steffan Dalsgaard, CEO of EraStar, stated: "Cytta's leading edge technology combined with our global marketing efforts will enable us to very quickly introduce the opportunity this product represents to large numbers of medical professionals who are struggling with falling Medicare reimbursement rates. Additionally, it will allow Doctors to deliver better quality care to their patients while developing an additional income stream."
Cytta President, Erik Stephansen, stated: "This merger of our technology and EraStar's operational expertise brings marketplace excellence to the forefront. We are very excited for customers, employees and investors who have been supportive of our growth."
While the Letter of Intent is not binding on either party, the two Companies expect to execute a final definitive merger agreement and execute the transaction within the very near term.
About Cytta Corp.
Cytta Corp. is an open source remote monitoring ubiquitous connectivity platform known for its highly scalable and secure Healthcare telehealth solutions. In addition to the Doctor Direct program, we are now offering the Cytta Connect technology to the Oil & Gas industry and will make available our remote data capture highway that connects monitoring devices seamlessly to a cloud-based data repository. Our remote data capture system works over our Special Purpose Network utilizing 4G LTE AT&T domestic and international SIMS, a proprietary smartphone based, Mobile, Satellite, and WiFi open source platform, and cloud-based data repository. The Cytta Connect technology automatically connects all remote monitoring devices to Cytta's cloud-based data repository creating real time communication for the Healthcare/Telehealth and Oil & Gas industries.
Safe Harbor Statement
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company's Form 10-K for the year ended September 30, 2013, and other subsequent Securities and Exchange Commission filings.
Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward looking statements, whether as a result of future events, new information, or otherwise.