posted
BICO's Reorganization Plan Approved and Merger Authorized
Monday , October 18, 2004 08:04 ET
PITTSBURGH, Oct 18, 2004 (PRNewswire-FirstCall via COMTEX) -- BICO Incorporated (Pink Sheets: BIKO) announced today that the Bankruptcy Court for the Western District of Pennsylvania has approved its Chapter 11 Reorganization Plan, which permits BICO to merge with cXc Services, Inc. The court order approving BICO's plan was consented to by the Securities and Exchange Commission as well as the Pennsylvania Department of Revenue.
BICO has entered into a letter of intent to merge with cXc Services, Inc. (website is http://www.cxcservices.com/ .) It is anticipated that the merger will be completed in the very near future.
Anthony Paterra, CEO and member of the Board of Directors stated that, "We are very excited about the future of the company. We believe that cXc has a very exciting product and an opportunistic and extremely well developed business model. We believe that this product could have significant potential. In addition, we are pleased that not only will the creditors receive stock in the new company, but also, all current common shareholders will retain their shares. The creditors have shown their support by overwhelmingly approving the plan."
BICO's corporate offices are located in Pittsburgh, Pennsylvania.
For further information contact: Anthony Paterra, Chief Executive Officer Phone: 412 279-1059
posted
It's always hard to predict cause so many factors can change the direction of a stocks. But, for now, IMO, it's going up on a few bumps here and there...and if we see a nice uptrend for a few days, it might give confidence to the market and get the attention of a lot more people...
REsistance on chart at .0020, .0025, .0036(52w hi)
Malloy
quote:Originally posted by stockfreak: what does anyone really think this stock will do in the next few weeks.
posted
BICO Enters Into Formal Agreement of Plan to Merge
Wednesday, October 27, 2004 09:09 ET
PITTSBURGH, Oct 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- BICO, Incorporated, (Pink Sheets: BIKO) announced today that they have entered into an Agreement and Plan of Merger with a private California based company, cXc Services, Inc. (website is http://www.cxcservices.com) with the surviving entity continuing as the publicly traded company under the BICO, Inc. name and the trading symbol BIKO. The foregoing is in accord with BICO's Chapter 11 Reorganization Plan approved by the U.S. Bankruptcy Court, Western District of Pennsylvania and consented to by the Securities and Exchange Commission as well as the Pennsylvania Department of Revenue. It is anticipated that the merger will be completed in the very near future.
cXc Services, Inc. ("cXc") is a new company which will be both a distributor of Internet appliances and an advertising and content publisher, delivering content and other fee-based services, including ISP, telephone services, video conferencing and e-commerce fulfillment directly to its appliances. cXc is the exclusive North American distributor of Amstrad's em@iler web phones. Amstrad is a British company that has been in the consumer electronics business since 1972 manufacturing PC's, audio equipment, and television "set top" boxes as well as telephones. The key features of the latest model, the E3 include: e-mail management, internet access, built-in video camera, USB port, EMV compliant smart card reader, SMS/MMS messaging, built-in digital voice mail, full-duplex quality hands free speakerphone, Linux operating system and Mobile Explorer browser. The E3 is in the final process of gaining FCC, UL and Canadian Industries approval.
BICO's corporate offices are located in Pittsburgh, Pennsylvania.
For further information contact: Anthony Paterra, Chief Executive Officer Telephone: 412-279-1059
This news release may include comments that do not refer strictly to historical results and may be deemed to the forward-looking with in the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among other things, statements about expectations of future events, revenues, cash flow and performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to consummate the merger, develop its new business, the company's ability to develop appropriate strategic alliances, raise working capital and successful development and implementation of technology, acceptance of the company's products and services, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.
SOURCE BICO, Incorporated
CONTACT: Anthony Paterra, Chief Executive Officer of BICO, Incorporated, +1-412-279-1059
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