Bio-One CEO Buys More Shares and Announces Status on Acquisitions & Funding
Wednesday June 4, 12:34 pm ET
ORLANDO, Fla.--(BUSINESS WIRE)--June 4, 2003--Bio-One Corporation (OTCBB:BICO - News; "Bio-One" or the "Company"). Armand Dauplaise, the Bio-One President and CEO stated that "I want to personally apologize to our shareholders for the slowness in completing our first round of acquisitions. As a way of reaffirming my commitment I have recently purchased more shares as well as continuing to defer a portion of my salary. I believe that my purchase of 1,020,000 shares through the market during the past 7 months is a strong demonstration of my commitment to build long-term shareholder value. My decision is based on continued confidence in the Company's business strategy and the current price of the stock, which management believes is significantly undervalued. I anticipate that other shareholders will continue doing the same in the open market based on market conditions.
"I want our shareholders to know that we are currently in the final stage of negotiating the terms and conditions of acquisitions representing revenues of $40 million with EBITDA of $4 million. The purchases will be completed with a combination of equity and debt financing, which has been committed by credible sources. We anticipate further announcements within 30-60 days," Mr. Dauplaise continued.
This is not a reco to buy! Please do your DD!
