American Diversified to acquire two new companies.WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 16, 1996--American Diversified Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ADGI) announced Thursday the signing of Letters of Intent and Preliminary Purchase Agreements for the acquisition of two new companies. One company is a biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. company dealing in medical products and services with extensive source and marketing agreements in South and Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. as well as proprietary procedures for screening and monitoring cancer treatment. The company has offices and laboratory facilities at a medical center in Miami. The second company is a computer company which has a system that can be used in ADGI's telemedicine programs. The basic unit is a PC communicator that will be directed and serve very specific and specialized markets. The unit is unique in many aspects and very different from a normal laptop or conventional computer. ADGI feels these entities enhance the programs and goals of the company and are synergistic with the overall direction of ADGI. The company feels appropriate acquisitions and mergers will expedite growth and thus revenues. Due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. is being completed on both of the companies and the post merger/acquisition consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge should meet the asset and net worth requirements for NASDAQ Small Cap with the stock price being the remaining element to be satisfied. The company has an aggressive goal to achieve Small Cap designation as soon as practically possible. The acquisitions are tax free stock exchanges with restricted stock being utilized for the acquisitions. The company anticipates the completion of the acquisitions within the next 2-3 weeks. ADGI is a diversified medically oriented company with affiliates, joint-venture partners and operations in South and Central America, West and Central Africa as well as 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. . CONTACT: American Diversified Group Inc., West Palm Beach 800/793-4469 |
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