Bodytel Scientific Inc. ("Company") was incorporated in Nevada as a development stage company on April 4, 2005, with a mission to create a comprehensive, trusted, state-of-the-art online marketplace for buyers and sellers of new and used cellular (cell) phones. Since its inception, the Company has strived to gain a large number of postings of cell phones from a variety of sources, including individuals, businesses, and not-for-profit enterprises that will appeal to a broad market of interested buyers.


Commencing in December 2006, the Company embarked on an aggressive transition in its Business Plan from developing a state-of-the-art online marketplace for new and used cellular telephones to a Company seeking to marketing state-of-the-art monitoring products and services to diabetic patients.


On December 6, 2006, the Company entered into a joint venture arrangement with Safe-com GmbH & Co. KG ("Safe-com"). Under this arrangement, the Company retained 50% ownership of the joint venture under the name of GlucoTel Scientific, Inc., a Nevada corporation ("GlucoTel Scientific"), in return for an investment of $1,250,000 USD. Safe-com transferred to the joint venture: All received trade marks or trade marks which are currently in approval for GlucoTel, all patent applications for GlucoTel, the IP Rights and Source Code for the GlucoTel Software running on the mobile phones, the IP Rights and Source Code for the Webserver and Portal, the design prototype, the rights for the design of the meter, the negotiated contracts with the manufacturers of the meter and the strip manufacturer, the working prototypes of the meter, all marketing and promotional equipment (booth, roll ups, flyer, etc.) and all blueprints and architectural studies of the glucose meter. Safe-com, for the transfer of the assets to the joint venture, also obtained a 50% interest and was reimbursed $265,000 in research and development expenses by the joint venture.