Banyan Corporation Sees Royalty Increase for First Quarter 2004.Business Editors/Health/Medical Writers LOS ANGELES--(BUSINESS WIRE)--May 26, 2004 Banyan Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BANYE) and its subsidiary, Chiropractic chiropractic (kīrəprăk`tĭk) [Gr.,=doing by hand], medical practice based on the theory that all disease results from a disruption of the functions of the nerves. USA, Inc., announced their royalty income has increased 42% during the first quarter of 2004 from fourth quarter 2003. Michael Gelmon, Banyan 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. , stated, "We are delighted to see substantial increase in our royalty income and look forward to substantial increases over the long-term." "The foundation has been laid and the infrastructure is now in place enabling our incoming royalties to strengthen our bottom line," concluded Banyan President Cory Gelmon. Contact Banyan Corporation Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at (877) 788-1940. For more information about Chiropractic USA, visit the Chiropractic USA Web site at www.ChiropracticUSA.net. About Banyan Corporation Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses. Currently the company's subsidiary, Chiropractic USA, Inc., is focusing on the development of branded chiropractic clinics throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. by way of acquisitions of existing clinics as well as franchising chiropractic clinics under its marks and uniform operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and practices. The company's other subsidiary; Banyan Financial Services, Inc., is providing practice finance solutions to the chiropractic, medical, dental and healthcare communities. 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 provides a "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. " for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. For a description of additional risks and uncertainties, please refer to Banyan's filings with the Securities and Exchange Commission. |
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