Integrative Health Technologies, Inc. Announces Merger Agreement with Senticore, Inc.
Thursday May 25, 4:47 pm ET
SAN ANTONIO, May 25 /PRNewswire/ -- Integrative Health Technologies, Inc. (IHT) announced the signing of a merger agreement in which it will become a wholly owned subsidiary of, and transfer its assets and outstanding shares to, Senticore, Inc. (OTC Bulletin Board: SNIO - News), a business development company.
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IHT and its subsidiary, Health and Medical Research Center, have been engaged in the research and development of nutritional and healthcare products and technologies for over 20 years. Relying on the advice and guidance provided by its highly qualified Scientific Advisory Board (www.ihtglobal.com), IHT receives grants from a number of leading companies in the healthcare and nutrition industries to conduct independent studies of the safety and efficacy of products and supplements designed to facilitate weight loss while improving bone health, blood chemistries, and quality of life. Its assets include a national database of over 40,000 measurements of bone density, lean and fat mass, and blood chemistries obtained from some of the most sophisticated technologies available. It contains data from people residing in every state in the union from measurements obtained from IHT's five mobile testing units.
"The database is a virtual scientific gold mine for the purpose of examining the relationships between the various measurements, and can aid in the development of prediction models designed to personalize nutritional and medical recommendations to the individual's unique physiological and biochemical requirements," said Dr. Joel Michalek, a university professor on IHT's Scientific Advisory Board.
"There is no doubt that the measurements of changes in lean, fat and bone mass contained in the database are going to have a profound effect on how we view weight loss," said Dr. Harry G. Preuss, a member of IHT's Scientific Board, Professor of Medicine at Georgetown University and former President of the American College of Nutrition. "We are re-framing the way we think about weight loss and paying much more attention to the kind, not the amount, of weight that is lost. Obviously, losing muscle and bone mass is hardly indicative of healthy weight loss," added Dr. Preuss.
The company has derived its income from ongoing from research and consulting contracts with its healthcare and nutritional clientele. As of May 15, 2006, IHT had an un-audited balance sheet indicating assets of $8,097,515 and liabilities of $522,952. "We need to underscore the 'un-audited' nature of these figures until we obtain an independent audit, which will be filed as an amendment to our Form 8-K within 71 calendar days of closing," said IHT's CEO, Gilbert R. Kaats, PhD.
IHT will become Senticore's largest portfolio company and, in conjunction with the merger, IHT's management team will replace Senticore's management after the SEC's required 10-day waiting period. At that time, the company will continue to operate as a business development company, but will limit its acquisitions and its research and development, to the healthcare and nutritional industries utilizing its networking connections that have been developed over the past 20 years.
Forward-Looking Statement: Statements that are not historical facts are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, and the effect of adverse publicity, litigation, competition and other factors that may be identified from time to time in the Company's public announcements.
Contact Person: Gilbert R. Kaats
Integrative Health Technologies, Inc.
gil@hmrcenter.net
(210) 824.4416
