Here may be the reason for the current move upward. Good to see the company making smart decisions for its shareholders.
Friday January 22, 3:41 pm Eastern Time
Company Press Release
COMGEN Terminates Patent Negotiations
RENO, Nev.--(BUSINESS WIRE)--Jan. 22, 1999--COMGEN, Inc. (OTC BB:CGEE - news) announced Friday that, pursuant to its press releases dated November 10, 1998 and November 12, 1999, the Company has terminated its negotiations with Messrs. Rzazewski and Jeffries to acquire certain environmental patents relating to an apparatus and process for reclaiming fuel oil from waste oil.
The decision to terminate negotiations was reached as a result of matters uncovered during its due diligence on the technology.
The Company intends to continue its investigation to locate a viable business venture to become involved with that will increase the share value of the Company for its members. The Company's participation in this business venture may take the form of a merger, consolidation, exchange of common stock for assets, joint venture or other form.
The Board of Directors intends to consider only business ventures which are profitable, or which have in their view growth potential.
The Company currently is a development stage company and has no business operations at this time.
The SEC and NASD have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Directors,
Christos Koumbis
Contact:
COMGEN, Inc.
David Parry, 877/608-1611
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