Bio Standard Announces Corporate Combination with Nettel Global Communication Corp.Business Editors/High-Tech Writers VANCOUVER, Wash.--(BUSINESS WIRE)--May 23, 2003 Bio Standard Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BOSD- news) is pleased to announce that, effective today's date, it has consummated an Agreement and Plan of Merger to acquire 100% of the outstanding shares of Nettel Global Communication Corp, a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , ("Nettel") which owns four subsidiaries: Nettel Telecom International (www.netteltelecom.com), VoipXchange.net (www.voipxchange.net), Entec Software (www.entecsoftware.com), and Nettel Trading Corp (www.netteltrading.com). Consideration for the acquisition of Nettel is the issuance of 10,596,290 shares of Bio Standard restricted common stock issued from Treasury following an 1 for 50 reverse recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. . Effective May 23, 2003, Bio Standard changes its name to "Nettel Holdings, Inc.", a Florida corporation, and appoints Michael Nguyen as the new 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 the combined company. The company's web site address is at www.nettelholdings.com. Michael Nguyen, the new President and CEO of the Nettel Holdings, said: "Nettel Global Communication Corp has successfully established itself as a seasoned operator in the areas of telecommunications, software development, and trading and has been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a way to rapidly grow the business from this strong foundation. Using the Bio Standard public company, we plan to grow the company organically and pursue an aggressive Mergers and Acquisitions strategy to acquire the assets of complimentary businesses in Telecommunications, Software Application Outsourcing services, Software Product Developments, Trading, and other related services." About Nettel Holdings: Nettel Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, the most important of which are Telecommunication and Software. The wholly owned subsidiaries 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. of Nettel Holdings are Nettel Telecom International, VoipXchange.net, and EnTec Software. In addition, the Company operates Nettel Trading which offers the trading of Metals, Chemicals, and other commodities. 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. : Except for historical information contained herein, the statements in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies. |
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