Looks like no deal on the harp...yet. Looking at the trading action today, word must have leaked that the merger was off. This PR below is a bit confusing....is this a "merger" or a buyout? We're now waiting until at least the beginning of Dec, and the newly proposed merger/buyout looks imminently more complicated than a simple merger. It could be a good chance to pick up some cheapies in the coming month for the true believers.
XTend Medical Corporation (XMDC) Moves Forward on Merger With BioHarp Korea
SUN VALLEY, CA and SEOUL, KOREA -- (Marketwire) -- 11/18/09 -- XTend Medical, (PINKSHEETS: XMDC), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, today announced the company is in the final stages of completing the merger between XTend Medical Corporation and BioHarp, Korea.
The company issued the following statement: "We're proud to announce XTend has finished their meetings in Korea with BioHarp. While we originally intended to just merge operations, XTend feels it will be in the best interest to purchase the assets wherein the newly merged entity would own the BioHarp medical device in its entirety. This insures the company has sufficient assets for proper company valuation as we look to begin the process of moving to a higher exchange. As this will involve both securities and cash, it is imperative to properly investigate any tax implications or other fees that may have an affect on both companies to insure the company is following proper procedures for the regulatory agencies. We will consult with our corporate counsel and CPA to insure we protect the company and complete this with the proper documentation and approvals. Mr. Lee will be traveling to Los Angeles at the beginning of December to meet with us to discuss the operational aspects of the new entity as we move forward," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
About XTend Medical
XTend Medical is a company that specializes in the manufacturing and distribution of the latest in telemedicine and telehealth solutions for the healthcare industry. Their dedication to insuring the products and services offered to healthcare organizations, third-world countries, and physician groups are at the forefront of medical technology. Their continued efforts in identifying global companies with true product potential in the healthcare industry puts them in an advantageous position to capitalize on a global basis. For further information, please contact them at info@bioharpunius.com.
The new website can be located at www.bioharpunius.com
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
CONTACT
info@bioharpunius.com
