clickNsettle.com, Inc. and Cardo Medical, LLC Announce Merger Agreement

MIAMI and LOS ANGELES, June 19 /PRNewswire-FirstCall/ -- Cardo Medical,
LLC, a company engaged in the development of orthopedic medical devices, and
clickNsettle.com, Inc. (OTC Bulletin Board: CKST), a publicly-traded company
with no active operations, have signed a merger agreement pursuant to which
Cardo Medical will become a wholly owned subsidiary of clickNsettle. After
the merger is completed, clickNsettle will be renamed Cardo Medical, Inc., and
will be headquartered in Los Angeles. The merger is expected to close in the
third quarter of 2008, and the company intends thereafter to apply to have its
shares listed on the American Stock Exchange (AMEX).
Simultaneously with the signing of the merger agreement, Dr. Phillip
Frost, former chairman and chief executive officer of IVAX Corporation, and
others invested $9.5 million in Cardo Medical. Certain other investors will
make up to an additional $4 million investment in Cardo Medical before the
merger is consummated. Proceeds from these investments are expected to be
used to close on the acquisition of the outstanding equity interests of three
partially owned subsidiaries of Cardo Medical, and to enable Cardo Medical to
accelerate its research and product development. Following such acquisitions,
Cardo Medical will directly and indirectly own 100% of the equity interests of
Accelerated Innovation, LLC, Cervical Xpand, LLC and Uni-Knee, LLC.
Under the terms of the merger agreement, it is expected that clickNsettle
shareholders will own approximately 5.56% of the combined company on a fully
diluted basis upon consummation of the merger. The current holders of Cardo
Medical's membership interests will own between 64.44% and 66.67% of
clickNsettle following the merger, and the new investors in Cardo Medical will
own between 27.78% and 30.0% of clickNsettle following the merger, in each
case, depending on the total amount of the investment in Cardo Medical prior
to the merger. The merger is subject to customary covenants and several
conditions.
Following the merger, the board of directors of Cardo Medical, Inc. will
consist of five directors to be appointed by Dr. Andrew Brooks and two
directors to be appointed by Dr. Phillip Frost. Dr. Brooks, an orthopedic
surgeon and the president and CEO of Cardo Medical, will be the CEO of the
company following the merger.
Dr. Brooks commented, "Cardo Medical is excited to partner with the Frost
investors as we view their investment as a significant endorsement of our
current product portfolio and validation of our forthcoming product pipeline."
Glenn L. Halpryn, who is the current chairman and president of clickNsettle,
stated that Cardo Medical's scientific and management team has extensive
experience in the orthopedic device space. Mr. Halpryn also said that he is
pleased that clickNsettle has this opportunity to enter the orthopedic medical
device market, which he believes has growth potential in view of the
demographic trend of an aging population.
About Cardo Medical, LLC
Cardo Medical, LLC, along with its partially owned subsidiaries,
Accelerated Innovation, LLC, Cervical Xpand, LLC and Uni-Knee, LLC, focuses on
product development, marketing and distribution of orthopedic and spinal
medical devices. The companies' product portfolio includes devices for spinal
motion preservation and fusion, hip replacement and unicompartmental knee
replacement.
Cardo Medical has received FDA clearance to market its Total Hip System,
Cervical Plate/Screw System, Spine Pedicle Screw/Rod System, Patello-femoral
Arthroplasty, and Uni-Knee Arthroplasty (UKA). Additional innovative products
are in Cardo Medical's product pipeline pending FDA submission and clearance.
This press release contains "forward-looking statements," as that term is
defined under the Private Securities Litigation Reform Act of 1995 (PSLRA),
regarding product development efforts and other non-historical facts about
expectations, beliefs or intentions regarding the business, technologies and
products, financial condition, strategies or prospects. Many factors could
cause actual activities or results to differ materially from the activities
and results anticipated in forward-looking statements. These factors include
those described in our filings with the Securities and Exchange Commission, as
well as risks inherent in funding, developing and obtaining regulatory
approvals of new, commercially-viable and competitive products and treatments,
including the risks that any products under development may fail, may not
achieve the expected results or effectiveness and may not generate data that
would support the approval or marketing of products for the ailments being
studied or for other ailments. In addition, forward-looking statements also
may be adversely affected by general market factors, competitive product
development, product availability, federal and state regulations and
legislation, the regulatory process for new products and indications,
manufacturing issues that may arise, patent positions and litigation, among
other factors. We do not undertake any obligation to update forward-looking
statements. We intend that all forward-looking statements be subject to the
safe-harbor provisions of the PSLRA.
SOURCE clickNsettle.com, Inc.

Glenn L. Halpryn, President, clickNsettle.com, Inc., +1-305-573-4112