Hard To Treat Diseases, Incorporated Announces: Spin-Off of Cavit Sciences, Inc.
Wednesday June 14, 8:00 am ET
DELRAY BEACH, FL--(MARKET WIRE)--Jun 14, 2006 -- Hard To Treat Diseases, Incorporated (HTTD) (Other OTC:HTDS.PK - News) announces that the Company’s Board of Directors voted to spin-off its wholly-owned subsidiary, Cavit Sciences, Inc., to HTTD shareholders of record on June 13, 2006.
HTTD had previously assigned certain of its patent application rights and related assets to Cavit Sciences, Inc. (“Cavit”), a corporation formed as a wholly-owned subsidiary of HTTD. Cavit shares were issued to HTTD as consideration for the assets acquired by Cavit.
HTTD will distribute the Cavit shares as a stock dividend to the HTTD shareholders of record as of June 13, 2006. HTTD expects to pay the stock dividend on or about September 30, 2006. |
