GelStat Announces the Retention of WSR Consulting, Inc. to Lead Its Corporate Financial Initiatives

To implement these initiatives, WSR Consulting's principals will work closely with GelStat's executive management team, board of directors and GelStat's marketing consultants (U.S. Marketing, Ltd) to increase its transparency with the investment community and build shareholder value. Future plans and accomplishments will be communicated through press releases, conferences calls and quarterly financial reports. Furthermore, WSR Consulting has agreed to accept 144 restricted stock as its entire compensation for its 12-month engagement. Adrian G. Goldfarb, co-founder and President of WSR Consulting stated, "We want to send a signal to the financial community that we believe in the future of GelStat. To make that message loud and clear we have agreed to 100% equity compensation. Our incentive is clearly aligned with GelStat's investors to build long-term shareholder value."

Bill Colucci, President of GelStat, stated, "We are pleased to be working with WSR Consulting at this phase of the Company's transformation and welcome the addition of experienced personnel to our team. It is our belief that this team will assist us in moving GelStat Corporation forward."

WSR Consulting's principals bring to GelStat over 50 years of combined experience in accounting, executive management, strategic planning and corporate financial experience. They also have experience in international business to assist with the planned expansion into those markets. The following are brief bios of the primary consultants that will be working with the Company.

Adrian G. Goldfarb - Co-Founder/President, WSR Consulting, Inc.

Mr. Goldfarb has more than 25 years experience in a number of different technology companies including IBM and a Fujitsu subsidiary. In addition to extensive international experience in a variety of management roles, he served as General Manager for the European affiliate of The Weather Channel and was responsible for turning around its European operations after multiple years of losses under previous management. He has most recently been involved in the private equity space, both as a management consultant and investor and recently concluded the sale of one of those companies to a large European investment group. Mr. Goldfarb specializes in the turnaround and growth of emerging companies with a focus on strategic planning and prudent financial management. Mr. Goldfarb is a graduate of Rutgers University in New Jersey with a BA in Business Administration specializing in Finance.

Gerald N. Kieft - Co-Founder, WSR Consulting, Inc.

Mr. Kieft is the founder and President of Wall Street Resources, Inc. and a co-founder of WSR Consulting, Inc. Mr. Kieft began his career in the finance industry as an analyst for the Loan Source in 1991, providing debt-funding sources for small businesses through Small Business Association (SBA) loans. Subsequently, Mr. Kieft has worked as a buy-side analyst for a hedge fund, a sell-side analyst for a boutique brokerage firm and as a consultant to high net worth individuals and emerging growth companies at a number of financial institutions including Prudential Securities, Legg Mason Wood Walker and Raymond James & Associates. Throughout his career in the finance industry, Mr. Kieft has helped numerous emerging growth companies obtain financing and gain market awareness, while providing quality information on micro and small capital companies to the investment community. Mr. Kieft is a graduate of Eastern Illinois University, where he earned a Bachelor of Science in Business degree, majoring in Finance, as well as a Bachelor of Arts degree, majoring in Economics.

Michael R. Hull, CPA - Managing Director - CFO Services, WSR Consulting, Inc.

Mr. Hull joined WSR Consulting, Inc. in 2008 as its Managing Director of CFO Services. After graduating from college, Mr. Hull spent 11 years auditing both public and private companies for Price Waterhouse, advancing from audit staff to audit senior manager. Upon leaving Price Waterhouse, he accepted the position of CFO for BCT International, a public company that is a franchisor of wholesale printing businesses with annual network sales of $107 million. Subsequently, he worked for Resources Global Professionals, where he was a member of a team that assisted a $4 billion subsidiary of a $40 billion multinational company in complying with Section 404 of the Sarbanes Oxley Act of 2002. Most recently, Mr. Hull served as the CFO of BabyUniverse, a public company traded on Nasdaq. His responsibilities included preparing the annual 10-K and quarterly 10-Qs filed with the SEC and coordinated the annual financial statement audit and quarterly reviews. Mr. Hull is a 1985 graduate of the University of Central Florida with a B.S.B.A. in Accounting. He has been a Certified Public Accountant since 1986 and is a member of the Florida Institute of Certified Public Accountants, a member of the American Institute of Certified Public Accountants, and a member of the Financial Executives Network Group.

Ronnie Sue Goldfarb, R. N. - Operations Manager, WSR Consulting, Inc.

Ms. Goldfarb began her nursing career at a large medical center as a staff nurse. She has held positions at Squibb Pharmaceutical, FHP Health Care, a large California insurance company which is now a United Health Care company and a European division of Abbott Laboratories. Most recently, she was a Disease Management Coordinator at a large Florida health insurance company where she was involved with the establishment of their Disease Management program. Ms. Goldfarb is a graduate of The University of Vermont School of Nursing with a Bachelor's of Science in Nursing. Currently, Ms. Goldfarb holds her RN License in the state of Florida. Previously, she has held licenses in New Jersey, Virginia, California and the United Kingdom.

ABOUT WSR CONSULTING, INC.

WSR Consulting, Inc. is a diversified business development and corporate financial management company that provides emerging growth companies with interim CFO and COO executive services, SEC filing support and Section 404 C compliance.

ABOUT GELSTAT CORPORATION

GelStat Corporation is dedicated to providing safe and effective over-the-counter (OTC) treatments for pain and inflammation. GelStat's first product, GelStat Migraine, is sold through retail chain stores, independent retailers and pharmacies, and direct to consumer channels. GelStat Migraine is a sublingually (under the tongue) administered OTC medication for acute relief from the pain and associated symptoms of migraine. Over 90 percent of the 30 million Americans with migraine use OTC headache remedies, generally aspirin or other non-steroidal anti-inflammatory drugs. Americans spend $2.6 billion each year on 600 million units of such products, although they are believed to be effective for only about 25 percent of those with moderate to severe migraine.

The Company also has a suite of additional, effective healthcare products that address large consumer markets. GelStat(TM) Arthritis is the second available product to utilize GelStat's patent-pending formulation and is provided as a daily use, sublingual dissolving tablet. The Center for Disease Control estimates that, in its many forms, arthritis affects up to 70 million Americans. The Company has also developed "GelStat(TM) Sinus" and "GelStat(TM) Sleep," and believes that each of these products performs well and is effective for its intended use. The National Institute of Allergy and Infectious Disease estimates that 37 million Americans are affected by sinusitis every year, with at least 20 million more suffering from allergies. Approximately 70 million Americans are reported to be "problem sleepers." For more information, visit www.gelstat.com

Safe Harbor Statement Under the Private Securities Litigation Act of 1995

With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of GelStat could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors, please review our SEC filings.