CompuMed corrects first and third graphs of release issued earlier today.--(BUSINESS WIRE)--December 7, 1995-- In BW1046 (COMPUMED) announces foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. on IRSCO Development Company, the first and third graphs should as follows: CompuMed Inc. (Nasdaq Small Cap: CMPD CMPD Charlotte-Mecklenburg Police Department (Charlotte, NC) CMPD Compound CMPD Chronic Myeloproliferative Disorder CMPD Campomelic Dysplasia CMPD Custom Microcomputer Program Design ) today announced that the holder of the notes secured by 2nd and 3rd deeds of trust on the real property owned by IRSCO Development Company, a CompuMed subsidiary, has filed Notices of Default and Election to Sell under Deed of Trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. . The successful conclusion of the OsteoGram(R) licensing arrangement with Merck, announced in September, provides the management of the company with the resources required to focus its efforts on future business opportunities in the healthcare marketplace. The IRSCO Development property no longer fits with the strategic priorities of the company and is not an essential part of the company's core business. At the end of the fiscal year 1995, CompuMed plans to take a write down on the property of about $1.5 million. CONTACT: CompuMed Inc., Manhattan Beach Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. Rod N. Raynovich, 310/643-5106 ext. 119 or Noonan/Russo Communications, Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212/696-4455 Jonathan Fassberg (investor) ext. 248 Rich Tammero (media) ext. 222 e-mail: news@noonanrusso.com |
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