Cavit Sciences Inc. (CVIT) enters into contracts with McCoy Enterprises LLC to finalize merger agreement.PATERSON, N.J. -- Cavit Sciences Inc. (CVIT CVIT Cardiovascular Interventional Technology CVIT Combat Vehicle Institutional Trainer (Marine Corps) CVIT Computer Vision Information Technology ) Cavit management has been negotiating with Randall McCoy and Joe Connell principle owners of McCoy Enterprises LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to merge our companies. Maggie Smyth, 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 Cavit states, "We all feel very good about this fit so we have added a breakup breakup The division of a company into separate parts. The most famous breakup to date was the 1984 division of AT&T (formerly, American Telephone & Telegraph Company). This breakup was intended to increase competition in the communications industry. clause to show our commitment to each other". "McCoy" has been working on getting final FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval for their Cultured Skin Substitute (PermaDerm[TM]). Their CSS (1) See Cascading Style Sheets. (2) (Content Scrambling System) The copy protection system applied to DVDs, which uses a 40-bit key to encrypt the movie. has already been given Orphan Drug orphan drug, drug developed under the U.S. Orphan Drug Act (1983) to treat a disease that affects fewer than 200,000 people in the United States. The orphan drug law offers tax breaks and a seven-year monopoly on drug sales to induce companies to undertake the Status by the FDA and will be indicated for children under 12 years old with 50% or more body surface burned. Along with the merger agreement "Cavit" and "McCoy" are working together to secure a $16,000,000 Loan to facilitate and get final FDA approval for the first indication of "PermaDerm[TM]" this should be accomplished in the next few days. Maggie Smyth interim CEO of Cavit states, "This agreement to finalize our merger has been long and hard, but both sides realize that as a team we see a bright and prosperous future for the Shareholders of our Company and the patients who will benefit most from the development of "PermaDerm[TM]". Joe Connell, Chief Operations Officer of McCoy, also states "We have taken all serious efforts to see that "PermaDerm[TM]" gets to market as fast as possible for the people that need it. As we grow and develop new indications for our CSS we see our mergered companies as a leader in Skin Cell Regeneration. We expect to have PermaDerm[TM] available in 2010 for its first indication." Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements made by Cavit. Additional factors that would cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Cavit's filings with the SEC. |
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