Auxer Announces Agreements with Fina Air of Puerto Rico and NEA HOLDINGS, INC.Business Editors TRAVERSE CITY, Mich.--(BUSINESS WIRE)--April 21, 2003 THE AUXER GROUP, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AXGI) announced today it has entered into a passenger service connector agreement with Fina Air of Puerto Rico and pursuant to this agreement has signed a Letter of Intent and Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. for the purchase of Two (2) former Boeing-Douglas DC-9-32 passenger aircraft (Mfg. Serial Numbers 47172 registry N926L and 47174 registry N929L) from NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen HOLDINGS, INC. of Delaware. Both of these DC-9-32 aircraft were formerly operated by Trans World Airlines Trans World Airlines, commonly known as TWA, was a major American airline company that was acquired by American Airlines in April 2001. For many years it was headquartered at the Kansas City Downtown Airport, as well as midtown Manhattan in New York City. ("TWA") and are configured with 100 seats (16 First Class and 84 Economy Class). Negotiations are underway with Evergreen Air Center, Inc. of Marana, Arizona to perform the heavy maintenance work packages, including avionics upgrades with the latest in GPS navigation technology including fresh customized paint, installation of over water equipment and possible interior reconfiguration upon delivery. The maintenance work package, repainting and other updates will take approximately 45 to 60 days. Robert J. Scott, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Auxer, stated, "Fina Air gives us a working relationship that will provide a low cost vehicle to transport Caribbean passengers to and from our Viva Airlines subsidiary's Dominican Republic hubs. Fina will complement Viva as well as providing significant cost savings. The DC-9-32's will be used in the Fina operation and supported by a cost sharing or lease agreement". Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, competition, new products, and technological changes, intellectual property rights and other risks. |
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