Article Erroneously Reports ZirMed.com Inc. Purchase Information.Business Editors/Health & Medical Writers LOUISVILLE, Ky.--(BUSINESS WIRE)--June 2, 2000 The Louisville, Kentucky  “Louisville” redirects here. For other uses, see Louisville (disambiguation). edition of Business First reported erroneously er·ro·ne·ous adj. Containing or derived from error; mistaken: erroneous conclusions. [Middle English, from Latin err in its June 2, 2000 edition that Medix Resources, Inc (AMEX AMEX See: American Stock Exchange : MXR MXR Mixer MXR Munxar (postal locality, Malta) MXR Mail Exchange Record ) had reached an agreement to purchase ZirMed.com(TM) Inc for the sum of $500,000. The correct information is that the $500,000 is the cost of the option only. Medix has paid an initial $100,000 installment of the $500,000 option price to ZirMed. Under the provisions of the option, Medix has the right to conduct a complete 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. review of ZirMed before making any further installments or deciding to proceed with the acquisition. The final purchase price and details of an acquisition will be negotiated during this time. If Medix determines at any time not to proceed with the acquisition, the amount of the option price that has been funded at that time will be converted into equity of ZirMed. Again, the acquisition is subject to the negotiation and signing of a definitive acquisition agreement, which will include terms and purchase price. For further information contact Terry Minton, ZirMed's vice president of mergers and acquisitions, at 877/494-7633 ext. 386. |
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