Check this out SSP. You've noticed QTEK in the past, check
out the last two QTEK PR's........note the impact date I put
in Bold
This past Monday's Press Release.........
SOURCE: Quintek Technologies, Inc.
Quintek Forms New Subsidiary for Treating AIDS
CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 22, 2001--Quintek Technologies, Inc. (OTCBB:QTEK - news) announced a major milestone established in its ongoing program to increase shareholder value by developing or acquiring new and unique technologies, establishing a subsidiary as a home for each technology, and spinning-off the subsidiary as an independent public company.
Quintek has obtained the rights to distribute a proprietary line of therapeutics for the treatment of AIDS/HIV within third world countries. Although the therapies have not been fully tested and evaluated in formal trials, study trials have proven them to be very effective in reversing this condition. In addition, the therapies provide a number of benefits over conventional drug therapies in that they are low in cost, simple to administer, have minimal to no side effects, and are particularly suitable to support large scale patient treatment programs.
To launch this technology, Quintek has formed ``PanaMed'' as a subsidiary, taking an initial 10% equity position through a stock swap transaction. Quintek plans to distribute the PanaMed shares to Quintek shareholders in the future as a key part of its spin-off strategy.
PanaMed plans to conduct formal clinical trials in selected third world countries, with the first of these to commence early next year with over 2,000 participants. Upon completion of the first of these trials, PanaMed expects to launch an ongoing product approval and treatment program to progressively provide treatment access to the tens of millions of people infected with this disease. PanaMed holds an exclusive license to distribute the therapies.
PanaMed will pursue a variety of sources for funding the treatments, including: 1) United Nations, 2) participating country governments, and 3) US and foreign humanitarian foundations.
For more information on PanaMed, call 888/787-0485.
About Quintek
Quintek supplies chemical-free equipment, software, media, and services used to preserve digital data and insure against information loss due to catastrophic events, computer virus, technology obsolescence, equipment failure, media degradation, change in formatting standards, and software incompatibility.
Quintek's strategic alliances include: Kitron, Saab, Eastman Kodak, Anacomp, and Imation. Customers include: TRW, Lockheed-Martin, US Navy, Aramco, Duke Power, Dresser Industries, Smiths Industries, Carolina Power & Light, Baltimore Gas & Electric, Lufkin Industries, Whirlpool, Zenith, PG&E, GTE Airfone, Caltrans, NASA, JPL, Southern California Edison, Westinghouse, among others. With an environmentally superior solution, Quintek has a significant competitive advantage in a worldwide market estimated at $2.5 billion per year.
Quintek intends to make stock oriented investments and launch promising new subsidiaries, from time to time as opportunities arise, in order to build shareholder value without diverting attention from the company's primary business line. This is Quintek's second project of this nature, the first was Microshield Technology Inc. (www.microshieldtechnologies.com), a private company in the business of manufacturing and distributing products used in shielding consumers from the hazards of cell phone radiation. An update on Microshield's progress will be released in the near future.
This document contains forward looking statements. There are certain important factors that could cause results to differ materially from those anticipated by the statements made above. Additional information on these and other factors will be included on future 10-Q and 10-K reports.
Yesterday's Press Release.........
PanaMed to Select Site for Clinical Trials
CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 25, 2001--Quintek Technologies Inc. (OTCBB:QTEK - news) announced its newly formed subsidiary, PanaMed, has initiated discussions with representatives from several third world countries to select a site for conducting clinical trials using PanaMed's proprietary line of therapies for treating HIV/AIDS.
The first phase of the trials, expected to start in January 2002 and last for 6 months, will focus on treating 60 patients infected with advanced stages of this disease. Phase 2 trials are structured to treat 2,000 people and are expected to start in mid-summer 2002, once successful results are shown from Phase 1.
The trials will be conducted under highly structured guidelines, with patient status baselined prior to the first treatment and then monitored frequently throughout the trial to ensure an accurate historical record of patient progress.
A portable, state-of-the-art blood analysis and recording system will be used to capture and store a complete blood panel and other pertinent information on each person treated. The records will be sent, on a daily basis, to a central database for consolidation and safe storage at a remote site.
Once the clinical trials are complete, PanaMed plans to proceed with an aggressive program to treat an estimated 35 million people within the territories authorized in PanaMed's exclusive licensing agreement. Revenues are expected to range from $700 to $5,000 per patient, with the exact amount depending on the location, patient condition and other pertinent factors.
For more information on PanaMed, call 888/787-0485.
Quintek holds a 10 percent equity position in PanaMed as the result of a stock swap transaction executed in conjunction with the recent formation of PanaMed. This is an investment made by Quintek to increase shareholder value without diverting attention from the company's primary business line.
Happy Investing!
KZAP |
