• If you live in Minnesota the program provides a 25-percent individual income tax credit.  If you do not generate enough tax liability the difference will be provided as a cash payment.
• If you are not a Minnesota resident, or even a resident of the United States, the entire credit will be given as a cash rebate equivalent to 25% of your investment.
• The program allows a maximum credit or grant of $125,000 per year per individual ($500,000 investment) or $250,000 for those married and filing jointly ($1,000,000 investment).
• The program has allocated $11 million dollars in tax credits for the rest of this year.  So far, about 30 companies have qualified to participate.  It is a first come/ first serve process until the funds are distributed.

Although any prudent investor would not invest in a company only because the investment risk is hedged by government participation, I think the State of Minnesota should be commended in their effort to stimulate the investment process.

Currently, Cardious is looking for qualified investors to invest $1.4MM  to support the next phase of product development resulting in human implantation.  Please contact me if you are interested in learning more.

LifeScience Alley, Minnestota’s medical device trade association, held its annual conference in Minneapolis on Dec. 10.  We were fortunate to be selected as one of three New Technology Showcase Award Winners to present our story to the 1.500 attendees.  Here’s the PDF of our 10-page PowerPoint presentation given by our Chief Technology Officer Kem Schankereli.

With the help of Master communications group, we recently produced an animation of the implant procedure.  Click play to watch this 1 minute, 20 second animation, or download the Flash animation file.

Any questions or comments – please contact me.  Remember, even though this general procedure has been performed in humans many times, our particular procedure is not yet approved for use in humans.