"Guardian Technologies Merger Update"; Vairex Completes First Round of Funding.Business Editors and Technology Writers CAREFREE, Ariz.--(BUSINESS WIRE)--July 10, 2001 Guardian Technologies International, Inc. (Nasdaq/SC:GRDN GRDN Garden (postal suffix) ), announced today that merger candidate Vairex Corporation has completed an initial round of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. providing sufficient cash flow to enable Vairex to reduce payables and ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale staffing to meet its 2001 business plan. "With our first round of financing behind us, we are aggressively pursuing additional equity infusions from several sources and assisting Guardian in the completion of the Proxy covering the merger which will be delivered to shareholders in the near future," stated Vairex CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Ski Milburn. ABOUT VAIREX (For more information, visit Vairex's website at www.vairex.com) Vairex was founded in 1987, to develop advanced, proprietary, oil free compressor technology for automotive and industrial applications and has been engaged in the emerging fuel cell industry for over six years. The Company's technical leadership has led to two major DOE development contracts and prototype sales to industry leaders such as Ballard, GM, Energy Partners and others. Most recently Vairex has delivered evaluation units to McDermott Technology and Fiat. ABOUT GUARDIAN Guardian, through its wholly-owned subsidiary Guardian Security & Safety Products, Inc. (GSSP GSSP Global Boundary Stratotype Sections and Points GSSP Generally-Accepted System Security Principles (NSSOG) GSSP Gifted Student Services Plan (Kentucky Department of Education) ), serves the law enforcement, security and military communities and the global security industry. GSSP's majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , ForceOne, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , manufactures a variety of high-end ballistic protective equipment including patented personal protection devices commonly referred to as body armor. Guardian, through its wholly-owned subsidiary Guardian Steel, is engaged in structural steel fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and provides among its products, structural steel used primarily in military base refurbishments and other projects under Federal contract. The statements made in this press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the Company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended September 30, 2000 and its report on Form 10-KSB for the year ended December 31, 1999, may affect the results achieved by the Company. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion