DRGI: Investor Mailbag: Update July 21, 2000
By Admin on Friday, July 21, 2000 - 10:40 am:
Diversified Resources Group, Inc.'s web site is currently
being renovated. The Company has taken many positive steps
over the past months, and specific details will be unveiled
within our newly renovated site in August.
We have provided the following summary information based on
investor questions. Further information will be provided
once the Form 10SB is re-filed with the SEC.
Falls River Land Development
The Company continues to control the rights to the 610 acre
Falls River property located in North Raleigh, North
Carolina, and has, to date, invested approximately
$1,000,000. Several of the United State's largest tract
builders have signed and committed to the development of the
project. The Company has successfully redesigned the
project to increase the number of building lots from 1,600
to over 2,000. We believe that financing of the Falls River
project will be completed by no later than September 30,
2000, and until financing is completed, we cannot announce
our final plans.
The Company's commitment and follow-through with the Falls
River development has allowed it the opportunity to develop
strategic relationships that could provide additional
project opportunities for the Company within the growing
North Carolina Metropolitan marketplace.
Saliva-Based HIV Screen Test
The Company has been notified by Quintiles that it can
expect to receive the final and comprehensive Market
Feasibility Study by the end of August, 2000. This study
will provide pertinent information as to the potential
market size, competition, required price structure and
marketability for the patented test.
Prior studies were conducted by Quintiles including an
in-depth intellectual property study to determine the
strength of the patent and competition of other similar
patents. The results from that study came back favorable,
and caused the Company to believe that it holds the rights
to the only saliva based HIV-1 & HIV-3 screen test that can
be administered and results returned promptly outside of a
clinical laboratory. The favorable response from this study
allowed the Company to move forward to the Market
Feasibility Study.
Favorable results from the Market Feasibility Study will
allow the Company to move to the final step within this
process, Manufacturing Cost Feasibility.
Should the final studies conducted by Quintiles return
favorably, it is important to note that the Saliva-based HIV
screen test is not expected to produce year 2000 revenues.
Cordless Power Corporation
Cordless Power Corporation (CPC) continues to provide the
most cost-efficient cellular telephone products and
accessories on the Internet. CPC has continued to strive to
increase sales and profitability so as to achieve the gross
revenues and profits set forth within the CPC Business Plan.
CPC has entered into negotiations with its suppliers to
restructure its product agreements. Although the
negotiations look promising, there can be no assurance as to
the ultimate outcome of such negotiations.
Form 10
The Company expects to re-file its Form 10SB in August,
2000.
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