Aradyme Corp. Engages Auditing Firm & Investment Banking Group Following Reorganization.Business Editors/High-Tech Writers AMERICAN FORK, Utah--(BUSINESS WIRE)--May 23, 2003 Aradyme Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADYE) announced today that as a result of their recent reorganization, the company's new board of directors has engaged H.J. and Associates, with office in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , as the company's auditing firm. The board's decision was based on the relationship and understanding of Aradyme's business that H.J. has acquired over the last two years. H.J. and Associates has been the auditor for Aradyme's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Aradyme Development Corp. There were no other issues relative to the decision to change the auditing firm. Pursuant to previous shareholder action the board is moving forward to increase authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of common stock from 20,000,000 to 50,000,000 shares, in anticipation of continuing its activities of raising funding, starting with a private placement of up to $5,000,000. The company is working with Bond Capital Management out of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California to manage the company's investment banking needs. This additional funding will allow the company to move forward with its sales and marketing activities to help the company reach its projected sales growth, and hire additional fulfillment staff to assist in the completion of existing and pending contracts. It is anticipated that this funding will allow the company to reach its projected revenue and achieve profitability in the next twelve months based on current business operations. Bond Capital Management, Inc. delivers innovative capital raising, financing and strategic advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . In the private and public markets, Bond Capital raises debt and equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. , initiates, structures and negotiates mergers, acquisitions and divestitures. Aradyme Development Corp. is a "Next Generation" database platform company. It develops and distributes integrated software solutions that help companies manage and grow their businesses. It uses proprietary technology to rapidly build integrated database applications in a drag-and-drop environment that are more powerful, flexible and yet more affordable than today's leading alternatives. Aradyme-based solutions remain flexible to real-time additions, modifications and changes, allowing applications to continually evolve real-time with business processes. Aradyme is currently involved in custom application development in a variety of business sectors and markets. "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 Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Information in this release is subject to uncertainties relating to market conditions, the technology, business plan, market opportunities and other contingencies. The company undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the company's business, please refer to the "Risk Factors" section of the company's SEC filings. |
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