Community Medical Transport, Inc. Announces Transaction With ServiceWorld, Inc.Business Editors NEW YORK--(BUSINESS WIRE)--June 5, 2000 Community Medical Transport, Inc. announced today that it has sold 192,032 shares of its common stock, constituting approximately 19% of its outstanding shares prior to sale, to ServiceWorld, Inc. Subject to stockholder approval, ServiceWorld, Inc. will purchase additional shares to give it 51% of our stock. The Company, as a result of ServiceWorld, Inc.'s involvement entered into a forbearance Refraining from doing something that one has a legal right to do. Giving of further time for repayment of an obligation or agreement; not to enforce claim at its due date. A delay in enforcing a legal right. agreement with its lender. Finally, we have an arrangement, also subject to shareholder approval, to consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. a merger agreement with ServiceWorld, Inc. after which ServiceWorld, Inc. will own a substantial majority of our shares of Community Medical Transport, Inc. No terms of the transactions have been announced. ServiceWorld, Inc. is an international company operating three divisions in the areas of environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, , commercial and industrial maintenance services, health facility services and residential services. Community Medical Transport, Inc., through its subsidiaries, provides medical transportation and other specialized transportation services in the New York-New Jersey metropolitan area. 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. 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 which are not historical facts contained in this press release are forward-looking statement 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 involve certain risks and uncertainties including but not limited to risks associated with the merger process and actions of its lender. |
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