Zaxis International Debt Load Retired.Business Editors HUDSON, Ohio--(BUSINESS WIRE)--Jan. 23, 2002 Zaxis International (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ZAXS), a protein separation based Biotechnology Company, today announced a 70% reduction in its balance sheet debt through the retirement of over 1 million dollars in demand notes and conversion of over 700,000 in notes payable. "Our fundamentals are very strong and the retirement and conversion of this outstanding debt will help provide future support for our continued growth," said Len Tannen, President and Chief Executive Officer of Zaxis International. "We look forward to developing new opportunities to work with premier sources of financing going forward." "The confidence shown in Zaxis by the note holders, has given the Zaxis management team the ability to eliminate the majority of its debt," said Ronald Hanson, Chairman of the Board for Zaxis International. "We are now in position to continue implementing our business plan and to grow our market share." Zaxis International is a leader in the custom formulation and manufacture of pre-cast polyacrylamide gels pol·y·a·cryl·a·mide gel n. A hydrated polymer consisting of a long chain of amide groups, used as a medium for substances that undergo gel electrophoresis. for protein separation and purification purification, in religion, the ceremonial removal of what the religion deems unclean. The usual agents of purification are water (as in baptism), bodily alteration (as in circumcision), and fire. applications in Genomic, Proteomic and Life Science research and manufacturing markets. The Company's proprietary formulations and manufacturing techniques, combined with the use of disposable 100% glass cassettes, provides the highest resolution, separation and reproducibility commercially available today. Zaxis International provides both standard and custom OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and pre-cast gels for resale by manufacturers and distributors of diagnostic kits, DNA sequencers A DNA sequencer is an instrument used to automate the DNA sequencing process. DNA sequencers have become more important due to large genomics projects and the need to increase productivity. and 2-Dimensional protein separation systems. In addition Zaxis International distributes its branded products to large end users such as Proteomics, Pharmaceutical and Biotechnology organizations who require gel documentation and reproducible product performance. Zaxis recently announced the availability of a large format all glass 2D gel for use with Amersham Bioscience's Ettan DALT DALT Declarative Agent Languages and Technologies DALT Department of the Army Liaison Team DALT Distributed Artificial Life Toolkit DALT District Achievement Level Tests DALT Danish Autolog Team DALT Drop Altitude II System, a major component of the rapidly expanding Proteomics research market today. For more information about Zaxis International Inc. and its products, please visit our website at www.zaxis-inc.com or call us at 877.246.8665. This press release contains 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. within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, which may cause the Company's results to differ materially from expectations. These risks and uncertainties include, but are not limited to, certain market risks, the ability of Zaxis International to develop and commercialize the products that are subject to this program and other risks and uncertainties in the Company's Securities and Exchange filings. |
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