TSPN NEWSSSS
SAN DIEGO--(BUSINESS WIRE)--May 16, 2002--Following a key meeting on Wednesday, May 15th, 37Point9 (OTCBB:TSPN) came to a verbal agreement on two acquisition targets, representing approximately $10 million in annual sales.
Basic terms were agreed upon and a timetable set for their implementation. Corporate focus will be on the Far Eastern medical market, with specific expertise to operate in mainland China under "hard to obtain" key government licenses in certain major provincial markets.
According to Doug Brown, president of 37Point9, "We expect to be able to announce a formal agreement-in-principle following a pre-set trip to China, along with an independent review of the companies' books and records, so that we will be able to meet the required timetable for certified audits. These two acquisitions will then form the basis of our overall corporate strategies."
About 37Point9
37Point9 is a development stage company in which new management came on board last fall. Its objective is to form a medical distribution company, developing its own products plus rights to distribute others, with primary emphasis in the Far East, using the mainland China/USA corridor as its focal point.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. 37Point9 disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
CONTACT: 37Point9
Doug Brown, 888/420-4042
KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: GOVERNMENT MEDICAL
SOURCE: 37Point9 Today's News On The Net - Business Wire's full file on the Internet
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