CARDIFF, Calif., Oct. 28 Jedi Mind, Inc. (Pink Sheets: JEDM) (www.jedimindinc.com) announced that the company is now debt free and has an excellent cash position to expand both the gaming and medical divisions through the rest of 2009 and into 2010. Jedi Mind has in excess of $500,000 of working capital which is being used to hire additional top quality programmers, expand their facility and upgrade computer hardware and software applications to the latest standards.
Jedi Mind also expects sales of their first game to provide additional working capital toward the end of 2009 and into 2010. Additional items the company is working on include: Expanding the board of directors by mid 2010. The board will consist primarily of individuals outside of the company with experience in the gaming industry, medical industry as well as professionals with strong marketing and business experience. Jedi Mind also expects a significant expansion of the medical division through next year as well. A number of additional demonstrations and trade shows to demonstrate the company's software applications with the wireless headset are expected to take place as well.
"We feel that we have started this business correctly; it's a process that has a number of steps and there are no short cuts if you want to be successful. We cleaned up all of the debt in our company and currently operate with over a half of a million dollars in capital," stated Brent Fouch, CEO of Jedi Mind, Inc. "We have seen significant interest in our software applications on both the gaming and medical side; we are in discussions with programmers, doctors and a number of other individuals to facilitate our expansion," concluded Fouch.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
SOURCE Jedi Mind, Inc.