Diversified Resources Group, Inc. Announces Closing of Falls River Real Estate Property.Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--Feb. 8, 2001 DRG DRG, n the abbreviation for diagnosis-related group. DRG see dorsal respiratory group. DRG Diagnosis-related group Managed care A unit of classifying Pts by diagnosis, average length of hospital stay, and , Inc. d/b/a Diversified Resources Group, Inc. (Pink Sheets:DRGI), a Sarasota, Florida Sarasota is a city located in Sarasota County on the central west coast of Florida, USA. Its official limits include Sarasota Bay and several barrier islands between the bay and the Gulf of Mexico. based company, announced today that on January 31, 2001, it successfully sold its interest in the Falls River Real Estate Property in Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. , and that the Company has collected all due amounts from the sale. Specific details of the closing will be made available in the Company's 8-K filing with the Securities and Exchange Commission (SEC) within the required timeframe. The closing of the Falls River property has provided the Company with the working capital necessary to proceed with final negotiations to acquire an already-identified operating company operating company A business that engages in transactions with outsiders. . The Company hopes to announce the acquisition along with specific details within the next few weeks. Company officials stated that, "the closing of the Falls River property took longer than expected, and we thank our investors and shareholders for their patience with us in dealing with the delays associated with the closing. We hope to reward our shareholders' patience with the details of this exciting new acquisition, and are pleased to announce that we are filing additional updated documents with the SEC in anticipation of applying for qualification of the Company's securities for listing on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. ." This press release shall not constitute an offer to sell securities under an exemption from registration pursuant to Regulation D, Rule 504 of the Securities and Exchange Commission. Statements regarding the company's expectations about new and exciting products, future financial performance and other forward looking statements are subject to various risks and uncertainties, including, without limitation, demand and acceptance of new and exciting products, technological advances and product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive factors and the availability of capital to finance growth. |
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