Mr. Richard Schnoor reports

VODIS ANNOUNCES DEBT SETTLEMENT WITH DIRECTOR

Vodis Pharmaceuticals Inc. has agreed to settle a total of $79,274 in outstanding debt owed to a director for expenses and costs incurred by the director on behalf of the company. The debt will be settled by the issuance to the director of a total of 466,318 common shares of the company at a deemed price of 17 cents per share. In consideration of the director's past payment on behalf of the company of expenses and costs necessary to sustain the company's operations, the company has agreed to issue to the director an additional 326,422 common shares of the company as a bonus at a deemed price of 17 cents per bonus share. The debt shares and the bonus shares will be subject to a hold period of four months starting on the date the shares are issued.

We seek Safe Harbor.