Taylor Madison Acquires Telzuit Technologies, Inc. and Completes a Securities Offering.ORLANDO, Fla. -- Telzuit Technologies, Inc. d/b/a BioPatch Systems ("Telzuit" or the "Company") and Taylor Madison Corp. (Pink Sheets:TMDN TMDN Theater Missile Defense Network ) announced today that they have closed a definitive Share Exchange Agreement, providing for the acquisition by Taylor Madison Corp. ("Taylor Madison") of all of the issued and outstanding shares of Telzuit for an aggregate of 2,207,723 Series B Preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. of Taylor Madison. In connection with the transaction, Taylor Madison will soon change its name to "Telzuit Medical Technologies, Inc." Upon completion of the acquisition of Telzuit, Donald Sproat was elected to serve as President, Chief Executive Officer, and Chief Financial Officer and was named as a director of Taylor Madison, James Madison, James, 1751–1836, 4th President of the United States (1809–17), b. Port Conway, Va. Early Career A member of the Virginia planter class, he attended the College of New Jersey (now Princeton Univ.), graduating in 1771. Tolan was elected to serve as Senior Vice President of Business Development of Taylor Madison, and Michael Vosch was elected to serve as Senior Vice President of Product Development of Taylor Madison. Each of Messrs. Sproat, Tolan, and Vosch are also officers of Telzuit. Also in conjunction with the transaction, Taylor Madison is pleased to announce that it has concluded a private placement with institutional and other accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". in excess of $500,000. The Company issued 10% Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. and Class A Warrants to the group of investors. Midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Partners & Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as the sole placement agent in this transaction. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Donald Sproat, President and Chief Executive Officer of Taylor Madison and Telzuit, "The development of our business model calls for rapid growth, and the completion of the share exchange with Taylor Madison is an important step in that development. Being a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. should allow us to raise additional capital and accelerate the placement of our initial product as well as fund the brisk development of successive products." "We are pleased that our acquisition of Telzuit was completed in a timely fashion," notes Michael B. Wellikoff, former Chairman of Taylor Madison Corp. "We believe that the acquisition of Telzuit Technologies is in the best interest of all Taylor Madison shareholders." About Telzuit Technologies, Inc. Telzuit Technologies, Inc. is dedicated to providing advanced mobile medicine for people worldwide. The first step in this mission will initially take the form of our state-of-the-art, FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved, Bio-Patch Wireless Heart Monitor. This is a full 12-lead, completely wireless, Holter monitor Hol·ter monitor n. A portable device used to measure the electrical activity of the heart over an extended period of time, allowing detection of intermittent arrhythmias and other electrical disturbances. which is new to the marketplace. The Company anticipates that the product will be available to patients and physicians during the 2005 calendar year. Telzuit is also building its own dedicated intranet as a platform to handle several of the products it will be releasing, including its initial product. More information on Telzuit, its business model, and its products can be found on its website: http://www.telzuit.com. About Midtown Partners & Co., LLC Originally founded in May 2000, Midtown Partners & Co., LLC is an investment bank focused on private placement investment banking opportunities. The investment banking group at Midtown Partners & Co., LLC was founded on the premise that client relationships and industry focus are keys to the success of emerging growth companies. Such companies require investment banking services from a firm with a unique understanding of the marketplace and the nature of these transactions. Additional information can be found at http://www.midtownpartners.com. The corporate offices of Taylor Madison and Telzuit are located at 5422 Carrier Drive, Suite 306, Orlando, FL 32819. Questions may be addressed to James Tolan, Senior Vice President of Business Development, at (407) 354-1222. Forward-Looking-Statement: Except for factual statements made herein, the information contained in this press release consists of 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. that involve risks and uncertainties, including the effect of changing economic conditions, competition within the credit and security industry, customer acceptance of products and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Taylor Madison and Telzuit results could differ materially from those contained in such statements. These forward-looking statements speak only as of the date of this release, and Taylor Madison and Telzuit undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release. |
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