Struthers, Inc. Signs Letter of Intent to Acquire up to 100% Interest in SeaSearch Scientific Corporation.Business Editors CHARLESTON, S.C.--(BUSINESS WIRE)--June 8, 2004 Struthers, Inc. (PINK SHEETS: STTJ), announced today it had signed a Letter of Intent to acquire up to a 100% interest in a privately held oceanographic search, recovery of marine antiquities, documentaries, and salvage company with industry leadership. SeaSearch Scientific Corporation (SSC SSC Secondary School Certificate SSC Standard Systems Center (USAF) SSC State Services Commission (New Zealand) SSC Swedish Space Corporation SSC Salem State College (Massachusetts) ), with its experienced world-renown management team carries out archeologically sensitive recovery of valuable international cargoes and artefacts from shipwrecks This list of shipwrecks is of those ships whose have been located. Africa East Africa
SeaSearch Scientific Corporation SSC is a leader in the development of recent successes of historic and international shipwreck shipwreck, complete or partial destruction of a vessel as a result of collision, fire, grounding, storm, explosion, or other mishap. In the ancient world sea travel was hazardous, but in modern times the number of shipwrecks due to nonhostile causes has steadily search, salvage and recovery operations Operations conducted to search for, locate, identify, rescue, and return personnel, sensitive equipment, or items critical to national security. . The company uses the latest technological innovations in marine survey and search and recovery. The immediate focus is raising the cargo of located shipwrecks in its targeted locations, currently 7 found vessels. "Aaron Playle, president of SSC, commented, " Through sound financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against of both internal and third party generated projects, SSC utilizes the latest technology and world-leading management expertise. This is accomplished by acquiring a number of active marine companies with an excellent history of lucrative search and salvage operations; for example SSC acquired the Marine Cargo Recovery Group of the UK, and Sub Sea Services Ltd., the survey and salvage group In an amphibious operation, a naval task organization designated and equipped to rescue personnel and to salvage equipment and material. based out of Abu Dhabi Abu Dhabi (ä`b  thä`bē, zä–, dä–), Arab. Abu Zabi, sheikhdom (1995 pop. 928,360), c. , United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. ". Playle describes; " Historically, the discovery of shipwrecks is frequently by accidental find. However, SSC, on the other hand, leaves nothing to chance. We use the latest advanced technology, academic and technical research. Once a wreck with an appropriate cargo has been targeted and/or located, an exploration and recovery license will be negotiated with the government, family, insurance group or company who may own the rights to that shipwreck and/or the territorial waters territorial waters: see waters, territorial. territorial waters Waters under the sovereign jurisdiction of a nation or state, including both marginal sea and inland waters. within which it is located. Currently, SSC has a number of promising permits for specific areas, and is in the process of receiving "Salver in Possession" rights on other sites". Douglas Beatty, president of Struthers, Inc. stated; "Our goal is for Struthers to gain a strong foothold in the significant international oceanographic marine antiquities business. And also the very lucrative survey and salvage of modern day shipwrecks." Beatty went on to say; "Struthers is very fortunate to join forces with SSC. Its president Aaron Playle enviably holds title to the highest profile investment and recovery project in world history. Aaron licensed and salvaged the porcelain cargo from the Tek Sing, a Chinese junk that sank in 1822, with the loss of over 2000 lives. It is known as China's very own Titanic. Sale of the porcelain cargo resulted in the largest marine antiquities auction in history. Lasting over 10 days and raised more than $23,000,000USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , the Tek Sing had sales of over 350,000 pieces of Chinese Ming and Chang Dynasty porcelain. The site still has hundreds of thousands of valuable porcelain pieces still left to be recovered. The value of the Ming and Chang Dynasty porcelain has increased substantially since the auction, and Struthers expects to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this lucrative collectors market. " About Struthers, Inc.: Struthers, Inc. seeks to continuously acquire technology and businesses that offer its shareholders exception growth opportunities. This press release does not constitute an offer to sell or a recommendation to purchase any securities. This press release may contain forward-looking statements 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. , including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful execution of the company's plan of operation, changes in the company's anticipated earnings, continuation of current contracts, changes in other applicable regulations, and other factors detailed in the company's filings with the Securities and Exchange Commission. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The marine industry is very fluid and undergoing changes from time to time. The company does not undertake to update these changes as they occur; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public. |
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