<<I have heard that the illicit opiate class drugs have made a HUGE come-back in popularity. What's anyones take on this technology and the prospects for them amounting to anything in terms of their 24 hour turn around technology?>>
DTOX is an interesting company! First of all CITA Biomedical, Inc. is a reporting company which filed a revised 10QSB on Feb. 5, 1999. Number of shares outstanding as of Dec. 14, 1998 was 11,499,929. DTOX had been an inactive shell company since Dec, 1994. On August 12, 1998 it acquired 100% of CITAmeria, Inc., which has a great web site:
cita1.com
Its name was changed from Southwestern Environmental Corp to CITA Biomedical, Inc. Management is currently seeking additional merger candidates.
AVIA originally purchased CITAmerica, Inc., on Feb 24, 1998:
ON FEBRUARY 24, 1998, AIC ACQUIRED CITA AMERICAS, INC. CITA OPERATES CLINICS ASSOCIATED WITH HEALTH CARE FACILITIES TO TREAT CHEMICAL DEPENDENCIES, UTILIZING ULTRA RAPID OPIATE DETOXIFICATION AND STRUCTURED AFTERCARE REINTEGRATION TREATMENT. CITA WAS ACQUIRED FOR 375,000 SHARES OF RESTRICTED COMMON STOCK, VALUED BY AIC AT $1,875,000 (THE STOCK PRICE AT THE CLOSING DATE OF THE TRANSACTION). BECAUSE THE BUSINESS OF CITA WAS NOT TRAVEL-RELATED, AND AIC HAD DECIDED TO CONCENTRATE ON TRAVEL-RELATED BUSINESSES, ON JULY 28, 1998, AIC ENTERED INTO A LETTER OF INTENT TO SELL CITA TO SOUTHWESTERN ENVIRONMENTAL CORP. IN EXCHANGE FOR $2,200,000 WORTH OF SOUTHWESTERN'S CLASS A PREFERRED STOCK. THIS SALE CLOSED ON AUGUST 31, 1998. THE PREFERRED STOCK RECEIVED BY AIC IS CONVERTIBLE INTO $2,200,000 WORTH OF COMMON STOCK (DETERMINED BY THE MARKET PRICE) AT ANY TIME AFTER JULY 29, 1999.
AVIA issued several news releases on CITAmerica:
futuresuperstock.com
futuresuperstock.com
futuresuperstock.com
During mid 1998 a merger was born between POKR and AVIA with the board members of POKR eventually taking over the board of AVIA. Clearly, they became uninterested in non-travel related businesses and put CITAmerica up for sell.
futuresuperstock.com
CITA Biomedical has been paying off all its obligations with stock:
On August 4, 1998, 1998, the Company issued 4.2 million shares of common stock to Tanaka Capital Limited in exchange for a note payable in the amount of $150,000 and accrued interest totaling $46,255 at June 30, 1998.
On September 20, 1998, the Company issued 200,000 shares of common stock to a consultant who consulted with the Company on reorganization and restructuring.
On September 20, 1998, the Company issued 500,000 shares of common stock to a consultant who consulted with the Company on reorganization, restructuring, and acquisition strategies and provided investment-banking services
On September 20, 1998, the Company issued 200,000 shares of common stock to the President of the Company in satisfaction of deferred compensation totaling $13,000 at June 30, 1998.
On September 20, 1998, the Company issued 200,000 shares of common stock to the Secretary of the Company in satisfaction of deferred compensation totaling $13,000 at June 30, 1998.
On August 12, 1998, the Company purchased all of the outstanding shares of common stock of CITAmerica, Inc. from Aviation Industries, Inc. pursuant to a Stock Purchase Agreement entered into in July 1998. The purchase was paid through the issuance of non-voting convertible preferred stock of the Registrant. The Company plans to file Form 8-K disclosing the acquisition. The president of the Company received 2.1 million shares of CITAmerica, Inc. common stock in connection with the acquisition. CITAmerica, Inc. is a Nevada corporation engaged in investigation and treatment of addiction. In conjunction with the purchase, the Company changed its name.
There is still debate on the process within the Medical Community; however, the following long-term study seems to be very promising:
pslgroup.com
The idea for this company started as CITA International in Spain:
drugdependence.com
Impression: Sells for about the same price as RDIM and it has a working web site. Probably less risk than RDIM. Currently the company appears undiscovered. I am a little concern that the share price is up about 100% over the past couple of days. I wouldn't mind owning some of it, but I haven't decided what a good entry point would be. Any ideas??
For what's it worth, Cisco
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