5 Starliving Online Inc. Announces an Agreement With Viral Genetics Inc.Business Editors, High-Tech Writers SEATTLE--(BUSINESS WIRE)--Sept. 19, 2001 5 Starliving Online Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :HTHV) announced today that it has entered into an Agreement and Plan of Exchange with Viral Genetics genetics, scientific study of the mechanism of heredity. While Gregor Mendel first presented his findings on the statistical laws governing the transmission of certain traits from generation to generation in 1856, it was not until the discovery and detailed study of Inc., that provides for the acquisition of Viral Genetics in exchange for 29,750,580 shares of 5 Starliving Online common stock. As a result of the transaction, that is expected to close before the end of September, Viral Genetics will become a wholly-owned subsidiary of 5 Starliving Online Inc. and the former stockholders of Viral Genetics will own approximately 79% of the then issued and outstanding common stock of 5 Starliving Online. Completion of the transaction is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the stockholders of Viral Genetics agreeing in writing to exchange their shares of Viral Genetics for shares of 5 Starliving Online. Viral Genetics, Inc., a development-stage California corporation, was founded in 1995 to discover, develop and commercialize therapeutic and diagnostic systems for the treatment of viral diseases viral diseases Diseases caused by viruses. Long-term immunity usually follows viral childhood diseases (see chickenpox). The common cold recurs into adulthood because many different viruses cause its symptoms, and immunity against one does not protect against others. . 5 Starliving Online, Inc. was founded in 1998 to develop an e-commerce business model designed to service the unique needs of the international affluent consumer. The prior acquisition agreement between 5 Starliving Online and Viral Genetics dated April 20, 2001, which was the subject of a preliminary proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. filed with the Securities and Exchange Commission, was terminated and the preliminary proxy statement was withdrawn. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Reform Act of 1995: Except for the historical information herein, the matters discussed in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties including, but not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices, and other factors discussed in the Company's various filings with the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion