Altrimega Health Corporation d.b.a. Creative Holdings & Marketing Corporation Revises Agreement with The Billings Group, LLC.Business Editors MYRTLE BEACH, S.C.--(BUSINESS WIRE)--Dec. 9, 2002 Altrimega Health Corporation, d/b/a Creative Holdings & Marketing Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRHM CRHM Christian Reformed Home Missions ) announced today that it has revised its October 2, 2002 Letter of Intent with The Billings Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control whereby Creative is to acquire 25% of The Billings Group, LLC for a proposed $250,000 equity investment and loan package totaling $150,000. Closing on this transaction is anticipated to be completed early in January 2003. New terms See suggestions for new terms. of the deal call for Creative to enter into a Joint Venture Agreement with The Billings Group, LLC, based in Pennsylvania, whereby Creative will provide funding for marketing programs designed to grow The Billings Group into one of the premier hotel brokerage firms in the country. Under the new deal, Creative is to provide up to $100,000 for marketing programs and will share in all commissions earned from hotel brokerage revenues by The Billings Group. The Billings Group currently has brokerage listings in excess of $60,000,000 and hopes to grow listings to $250,000,000 over a three year period with the aid of marketing funds to be provided by Creative. The Billings Group is a commercial real estate developer and broker focused primarily on site evaluation, construction, management, company selection, financing, consulting, franchise negotiations and sales of small and medium sized hotel projects throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Doug Billings, Chief Executive Officer of The Billings Group, LLC, is known for his creation of the hotel marketing division of the Resolution Trust Corporation (RTC See real time clock. ), where he directed the marketing and divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of hundreds of hotels that had been taken over by the federal government during the savings and loan crisis The Savings and Loan crisis of the 1980s was a wave of savings and loan association failures in the United States in which over 1,000 savings and loan institutions failed in "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time. . Having served on numerous boards of directors for the hospitality industry, including the Board of Directors of the International Association of Holiday Inns, Mr. Billings is a frequent speaker at property conferences nationwide. Currently, Mr. Billings is a member of the Advisory Board for the Resort Tourism Management Program at Coastal Carolina University in Conway/Myrtle Beach, S.C. Stockholders and other interested parties may direct their questions to: info@creativeholdings.com With the exception of historical information contained in this press release, this press release includes 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. . These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; market demand and acceptance of products; the impact of changing economic conditions; business conditions in the Internet and telecommunications industries; reliance on third parties, including potential suppliers, licensors, and licensees; the impact of competitors and their products; risks concerning future technology; and other factors detailed in this press release and in the company's Securities and Exchange Commission filings. |
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