When you reply to yourself, you know you have an underfollowed and thinly traded stock on your hands. RYBO continues to be a disappointing investment despite a potentially huge worldwide market for Royce's products. But, the following release could be seen as good news:
(IRVINE, CALIFORNIA July 14, 1997) - Royce Biomedical, Inc.
Company president Mr. Ken Pappas is pleased to release the
following report to our shareholders to inform them as to
the most recent status of the company and to identify the
companies future developments.
In our ongoing efforts to continue with our corporate
development, Royce has appointed the following individuals
to our management team:
Mr. Asad Zaidi, BSC., BS, Biomedical Engineering, MBA
Dr. Krishan Sharma, Ph.D, Director of International Business Development
Dr. Gregory Cullen, Operations Consultant - S.A.C. Medical
Dr. Ian Buchanan, Technical Consultant
A formal individual news announcement will be made by the
company to fully convey the curriculum vitae of each new
appointee to Royce and their responsibilities in the next
two weeks.
Royce's Board of Directors is pleased to announce the
acquisition of Immuchem Technology Inc. of Huntington Beach, California.
The terms and conditions of the agreement were
such that Royce was successful in acquiring all technologies, trademarks,
patents, copyrights, technical data and formulas
of Immuchem. This acquisition expands Royce's existing
product line to incorporate cutting edge technology such as
"Lateral Flow" or "One Step" technology for infectious
diseases. We believe very strongly due to feedback from our distributors
that this new line of diagnostic test kits will
be eagerly accepted by the medical community and public in
both
our domestic and foreign markets.
Royce is pleased to announce that for the period ended
ecember 31, 1996 and the first two quarters of 1997 our
overall coordination between the development of our products
and the implementation of those products to global markets
has proved to be very successful. We have been able to
identify and work successfully through the complexities and
demands of foreign Ministry of Health requirements and have
been successful in the following countries.
Charles F. Payne, Director of Foreign Marketing & Sales is
pleased to announce the following countries have granted
approvals to Royce Biomedical Inc.'s products for sale.
PANAMA DISTRIBUTOR: PAYLESS PANAMA,
COSTA RICA Mr. Estaban Diaz, President
EL SALVADOR
HONDURAS
NICARAGUA
CARIBBEAN
BRAZIL DISTRIBUTOR: KIRSCHNER PHARMACEUTICAL IMPORTS LTD.
Dr. Eric Kirschner, President
CHINA ROYCE OFFICE: Dr Zhi Fen Jing
Director of Business, China
HONG KONG DISTRIBUTOR: D.K. GLOBAL TRADING LTD.
KOREA Mr. Ray Jung, President
INDIA JOINT VENTURE CHMOKU LTD.
PARTNER
POLAND DISTRIBUTOR: CAN POLISH TRADING CO. LTD.
Dr. Roger Hodkinson, President
LITHUANIA DISTRIBUTOR: SAGO INTERNATIONAL LTD.
Mr. Sam Gold, President
GREECE DISTRIBUTOR: PALEOGIIANNIS PHARMACEUTICAL
IMPORTS LTD.
Mr. Bill Paleogiiannis, President
Royce Biomedical Inc, is pleased to report that the board
of directors have reached a decision regarding Dr. Chan
Patel and Am Tech Scientific. Royce has elected to allow
its Option To Purchase of Am Tech Scientific including all technologies
owned and developed to lapse. Royce's Board
of Directors and Advisory Board believe and have agreed
that AM TECH Scientific does not possess the means to
accurately mass produce Royce's product lines.
Furthermore, Royce and Dr. Patel have agreed that Dr. Patel
should no longer sit on the Board of Directors for Royce
Biomedical Inc. and that the acceptance of his proffered
resignation was the best solution for both parties.
Therefore we are announcing at this time that Dr. Chan
Patel has resigned and Royce will no longer require his
services for any consulting or for the manufacturing of
any of Royce's products.
Royce is pleased to announce at this time that we have
entered into an O.E.M. manufacturing agreement with
Specialty Biosystems Inc. of San Diego Ca.. Specialty
Biosystems Inc. is a manufacturer of diagnostics test
kits. Through the course of our negotiations Royce is
confident that Specialty possesses the means and anility
to mass produce Royce's products consistently and
effectively. Royce is very pleased to have entered
into this agreement. Furthermore Royce and Specialty
are currently discussing and entering into a Memorandum
of Understanding for official negotiations to commence
with the aim being to formalize a contract over the next
60 days for the possible acquisition of Specialty
Biosystems Inc. by Royce Biomedical Inc.
Royce Biomedical, Inc. (RYBO - OTC Bulletin Board) is a state-of-the-art
developer, manufacturer and marketer of
rapid result medical diagnostic test kits with offices in
Irvine, California, Beijing, China, & Vancouver, British
Columbia, Canada. Royce is maintaining its objectives for
rapid and consistent growth through the implementation of a progressive
sales and marketing program both in the United
States, Canada and International.
For further information or a copy of our Investors
Communication Package please contact Steven Marakis or
Stephan Atoui at 1-800-661-7844, or visit our web site
at www.roycebiomedical.com.
Ken Pappas
President |
