Bio-Friendly Corporation Issues Statement Regarding American Technologies Group.Business Editors MONROVIA, Calif.--(BUSINESS WIRE)--Dec. 21, 2000 American Technologies Group Fails to Post $50,000 Bond Bio-Friendly Corporation's corporate counsel, Michael Stoller, today issued the following statement: "After checking with the court, records reveal that American Technologies Group Inc. (ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant ) -- (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ATEG ATEG Assembly for the Teaching of English Grammar ) failed to meet the December 14, 2000, deadline imposed by the Judge to post a $50,000 bond with the preliminary injunction A temporary order made by a court at the request of one party that prevents the other party from pursuing a particular course of conduct until the conclusion of a trial on the merits. A preliminary injunction is regarded as extraordinary relief. . Since ATG could not come up with the bond, there are no restrictions on Bio-Friendly to use its trade name Might-Tron(TM). ATG has now lost every claim on which they were attempting to obtain a Temporary Restraining Order temporary restraining order: see injunction. against Bio-Friendly Corporation," said Stoller. "Bio-Friendly Corporation has now begun counter-claims against ATG for its frivolous lawsuit. Certain creditors and other claimants are considering legal action against ATG including filing for a petition for involuntary bankruptcy," Stoller said. Peacock Financial Corp. is a shareholder of privately held Bio-Friendly Corp. Safe Harbor 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: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to delays in testing and evaluation, completion of the clinical trials, positive results of the clinical trials, government approval, market acceptance of new technologies or products and other risks. |
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