Sagemark Consummates $2.5 Million Sale of Trident Growth Fund, L.P.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 -- The Sagemark Companies Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SKCO), a national owner and operator of positron emission tomography positron emission tomography: see PET scan. positron emission tomography (PET) Imaging technique used in diagnosis and biomedical research. (PET) medical diagnostic imaging centers, today announced that it has consummated the sale to Trident Advisors, Inc. of its 24.1% limited partnership interest in Trident Growth Fund, L.P. for a purchase price of $2,570,000, $625,000 of which was paid in cash at the closing of the transaction and the balance paid by Trident Advisor's four year Secured Promissory Note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. in the principal amount of $1,945,000. "We are pleased with the completion of the sale of our limited partnership interest in Trident Growth Fund, L.P. to Trident Advisors and believe that this transaction enhances shareholder value, providing capital to develop additional PET imaging centers to grow our medical imaging portfolio and strengthen our position in the medical diagnostic imaging industry," commented Ted Shapiro, Sagemark's President and Chief Executive Officer. About The Sagemark Companies Ltd. Sagemark owns, operates and administers out-patient medical diagnostic imaging centers that utilize positron emission tomography (PET), and PET and computed tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. (PET/CT PET/CT Positron Emission Tomography and Computed Tomography ) imaging systems. PET is an advanced medical diagnostic imaging procedure used by physicians in the detection and staging of certain cancers, coronary disease and neurological disorders including Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. . One toll-free phone call routes callers to any of the Company's seven imaging centers: 866.WE SEE FURTHER (866.937.3338). Forward Looking Statements This press release contains forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For a complete list of risks and uncertainties, please refer to the Risk Factor section of the Company's Form 10-KSB for the year ended Dec. 31, 2005 filed with the Securities and Exchange Commission. |
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