RTIN Holdings has released the following press release. More information may be found at www.rtinholdings.com
Longview, TX - March 26, 2002 RTIN Holdings (NASD OTC BB: RTNH), announced today that RTIN Holdings, Inc. collectively with its' subsidiaries, "Safe Med Systems Inc.T" and "Safescript Pharmacies Inc.T", entered into a License Agreement with RxSystems, Inc.., a Nevada Corporation, for the purchase price of $5 million to open and operate "Safescript Pharmacies Inc." utilizing the "Safe Med Systems Inc. T" technology in their west coast markets. In this agreement RTIN Holdings, Inc. will receive $500,000.00 in cash and $4.5 million of RxSystems, Inc. convertible preferred stock along with $20,000.00 for each new pharmacy opening and a 4% royalty on gross revenue. For a more in depth look at the markets in which the company is expanding and or selling licenses go to www.rtinholdings.com/cmsa.htm
Curtis A. Swanson, President & Chief Operating Officer of RTIN Holdings stated, "This transaction is the first of three planned synergistic partnerships designed to keep RTIN's Safescript Pharmacies, 'the first to market', in all their geographical market places. Licensee agreements allow the company to rapidly rollout in multiple markets simultaneously and capture a revenue stream that otherwise could be lost to outside competition. Other benefits of this market strategy include the non-dilutive generation of capital, and a significant equity stake in the like company, which will create additional value for our shareholders. This license agreement is part of our strategy to meet or exceed the original projections of the business plan, as well as facilitate an efficient national expansion over the shortest time period."
David Parker, CEO of RxSystems, Inc. stated," We are extremely excited to have secured our License Agreement with RTIN Holdings Inc. The opportunity to exploit a single variable proven business model in major markets is indeed extraordinary. We were fortunate to obtain markets geographically concentrated on the west coast with a population density exceeding 38 million people. Ultimately a market of this size should yield upwards of 150 pharmacies. Therefore it is our plan to rollout immediately and aggressively to establish the Safescript Pharmacies brand up and down the west coast from Seattle to San Diego."
David Lee, President of Safe Med Systems, Inc. stated, "This is a tremendous opportunity for us to expand the Safe Med Systems database and doctor pool. In addition to programs we are negotiating with other pharmaceutical companies, this transaction allows us to expand the Safe Med Systems technology more rapidly and gain market share for this exciting system."
Safe Med Systems, Inc. T is a medical communications/technology company that provides state-of-the-art, hand-held prescription units loaded with patent-pending software and secure, broadband wireless technology. Safescript Pharmacies Inc. T is the preferred retail pharmacy provider that specializes in filling prescriptions generated by the Safe Med Systems technology. Because pain management specialists and their patients have been under-served by the pharmacy industry and annual expenditures for pain management is approaching $100 billion in the U.S. (and is expected to grow), the companies are initially targeting physicians who frequently treat chronic pain. For additional information on both Safe Med Systems Inc. T and Safescript Pharmacies Inc. T see our web site at www.rtinholdings.com
RTIN Holdings, Inc. is a public holding company whose stock trades on the fully reporting NASD OTC BB.
Contact: Thomas M. Aigner / Director of Investor Relations tomaigner@rtinholdings.com or by telephone at 817-788-9716
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. The most important factors that may cause actual results to differ from expectations are the speed with which the Company is able to install the MedEx/Pegasus business system into the Safe Med and Safescript business system, the speed with which the Company is able to open pharmacy locations, the ability of the Company to obtain acceptance of the ZipScript by doctors and patients, the availability of the necessary capital for start-up costs and the risk of competitive technology innovations. Other risk factors are l!
is!
ted in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking Statements involve risks, uncertainties and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.
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