Longview, TX - October 29, 2002 RTIN Holdings (NASD OTC BB: RTNH), announced today that collectively with its' subsidiaries, "Safe Med Systems Inc.T" and "Safescript Pharmacies Inc.T", the company has entered into an Expansion Agreement with Safescript Pharmacies of Kentucky, Inc., for the purchase price of $957,000 to open and operate Safescript Pharmacies utilizing the Safe Med Systems technology in the markets of Ohio, Indiana, and Michigan, as well as additional markets in Kentucky and West Virginia. In addition to the up front fees RTIN Holdings, Inc. will receive a license fee of $20,000 for each Safescript Pharmacy opened and an ongoing licensing payment of 4% of gross sales. Safescript Pharmacies of Kentucky has completed its obligations under the previous territorial license agreement and contributed an additional compensation towards the expansion rights.
Curtis A. Swanson, President & Chief Operating Officer of RTIN Holdings stated, "In light of the fact that Safescript Pharmacies of Kentucky, Inc. has completed the payment of the purchase price for their initial territory and have demonstrated the resources necessary to purchase these additional markets, the Company felt it was in the best interest of all parties to move forward with the Expansion Agreement." Mr. Swanson further stated "We continue to hold fast to our business model of growing the Safescript Pharmacy concept nationally through the growth of Company owned stores as well as utilization of strategic market partnerships throughout the country and abroad."
Kent Freeman, President and CEO of Safescript Pharmacies of Kentucky, Inc. stated, "We plan to aggressively pursue opening of additional markets in our area. Our goal is to provide our customers with the best service available while at the same time adding value to the investment of our shareholders." Mr. Freeman further stated, "Although we are yet to open the first pharmacy we have been diligently working to bring the Huntington, West Virginia Safescript on line as soon as possible. It is very important to us to get the first pharmacy on line as quickly as possible and operating smoothly from the start. Therefore we are progressing carefully and methodically to insure the companies' success. Mr. Freeman went on to say, "Behind the scene a lot of work has already been accomplished and we have an excellent group of professionals working in the companies best interest. Our investors are as excited as I am about the future of Safescript."
Stanley L. Swanson, CEO of RTIN Holdings, Inc. stated, "Our Company remains committed to implementing this business model for the purpose of increasing shareholder value while at the same time working to eliminate the deaths, injuries, and billions of dollars in costs, associated with prescription related errors." Mr. Stanley Swanson further stated, "We are very excited about this expansion by Safescript Pharmacies of Kentucky, Inc. and are devoted to the success of Mr. Freeman and his company and investors as well as all our market partners throughout the United States."
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. For additional information please visit our website at www.rtinholdings.com
Contact: Thomas Aigner at tomaigner@rtinholdings.com or by telephone at 903-557-1543.
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. Other risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB filed with the Securities and Exchange Commission. Such forward-looking statements involve risks and uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.
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