DCLT Merger News info
Data Call Technologies, Inc. to Be Acquired by Lab Amazon Group, Inc.
21 minutes ago - Marketwire
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DCLT 0.0521 73.67%
As of 9:46 AM ET 9/28/10
Data Call Technologies, Inc. (OTCBB: DCLT) today announced that it has signed a letter of intent to be acquired by Lab Amazon Group, Inc. ("Lab Amazon"). Lab Amazon is a private company engaged in the discovery, development, production and distribution of high quality, safe and effective natural products for pharmaceutical applications. Lab Amazon products are directed at large available markets with largely unmet therapeutic needs. Lab Amazon is in the process of submitting its first candidate EDWD31 (Lab Amazon's wound care product) to the U.S. Food and Drug Administration and the European Commission for approval.
The Company's initial product, EDWD31 is a topical bacteriostatic formula which effectively treats a broad spectrum of wounds, sores, infected post-operative incisions, and shows much promise with several other dermal diseases. EDWD31 was developed by the late Dr. Ennio T. Devoto (an Italian Marine Biologist who had explored the Peruvian Amazon over the last forty years). The EDWD31 product is complete (no further development is necessary). EDWD31 is the first in a line of many products that will arise from the research conducted to date and the basis for the development of future applications.
Lab Amazon will acquire Data Call in its entirety for an undisclosed amount. Upon completion of the acquisition, Lab Amazon will become the public company with Data Call becoming a wholly owned subsidiary of Lab Amazon. Lab Amazon has agreed to provide Data Call with the necessary funding to further market and expand its current digital signage products and to seek diversification of its business. Lab Amazon has already identified several acquisition candidates for the diversification of Data Call's business.
Both companies contemplate the signing of a definitive merger agreement within the next thirty days.
"Data Call continues to show strong growth even during this harsh economic environment. This merger will empower Data Call to attain new heights in its current market and grow rapidly into others. Through this opportunity, our further diversification will strongly enhance our bottom line, as well as our core competencies and increase shareholder value," stated Tim Vance, Data Call's CEO.
About Data Call www.datacalltech.com.
About Lab Amazon www.labamazon.net
Statements contained herein, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information. The company takes no obligation to update or correct forward-looking statements and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
Contact:
Tim Vance
866-219-2025 x207
