BioShield Announces Commitment for a Private Placement Valuing Its Medical E-Commerce Subsidiary at a $140MM Market Cap.NORCROSS, Ga.--(BUSINESS WIRE)--July 1, 1999-- BioShield Technologies, Inc. (Nasdaq: BSTI BSTI Bangladesh Standards and Testing Institute BSTI Basic Scientific and Technical Information ) announced today that it has received a commitment for up to a $15MM private placement from several investors valuing its medical e-commerce subsidiary at $140MM. The Company has poised the subsidiary for future growth in this rapidly expanding market segment. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Internet Strategy Business Weekly, $208 billion will be spent over the Internet on medical related products and services in the year 2000. Commenting, Co-Chairman, 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. Timothy Moses said: "BioShield is quite optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future of our medical Internet subsidiary, as the acceptance of Internet use by doctors and patients is clearly widening. Currently the e-commerce site is anticipated to be launched within the fourth quarter of 1999. Due to the broadening of our site, a new branded name for our medical Internet subsidiary is being developed by iXL (Nasdaq: IIXL)." BioShield Technologies is comprised of four business divisions for the sale, distribution, and development of antimicrobial antimicrobial /an·ti·mi·cro·bi·al/ (-mi-kro´be-al) 1. killing microorganisms or suppressing their multiplication or growth. 2. an agent with such effects. , biostatic and medical related products for the internet medical markets, retail, industrial & institutional and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and markets. Statements in this news release that are not historical 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. . These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in any forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the company, including, but not limited to, risks and uncertainties related to new developing technologies, dependence on collaborative partners, the inherent complexity and uncertainty regarding the development of products, BioShield's early-stage development, the result of research and development efforts, future capital needs, and the uncertainty of additional funding and government regulations and other factors which are detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. BioShield does not undertake to revise or update any forward-looking statement to reflect events or circumstances that may arise after the date hereof. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion