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SNIO (.016)Announces Dividend and Application to Change Its Name to Integrative Health Technologies, Inc. Jun 28, 2006 7:00:00 AM
SAN ANTONIO, June 28 /PRNewswire-FirstCall/ -- Senticore, Inc. (OTC Bulletin Board: SNIO) has declared its first dividend in the history of the company. The cash dividend will be distributed to all shareholders of record on close of business on June 30, 2006. The amount and timing of the dividend will be based on funds derived from sale of its 882,353 shares in AdZone Research, Inc., which the company received December 29, 2004 from a joint venture transaction with AdZone. The acquisition and intent to dividend the shares was announced in the company's Security and Exchange Commission's filings of Forms 10-KSB for 2004 and 2005 and was contingent upon AdZone's registration of the shares or the application of Rule 144.
Dividend
"While questions may be raised as to the wisdom of distributing this asset as a dividend in light of the company's current liabilities and the absence of any net profits since the company was formed in 1999," said Gilbert R. Kaats, Senticore's CEO, "there were a number of considerations that led to this decision. These include:
(1) we wanted to honor the commitment the previous management made to the shareholders, (2) the business of AdZone does not fit Senticore's strategic focus on healthcare and nutrition, (3) a review of Senticore's financials for the second quarter of 2006 has revealed that the company has sufficient liquid assets to offset all of its current liabilities, and (4) Senticore's increased assets suggest that for the first time in the history of the company, it will report a net profit for the second quarter of 2006."
Name Change
Application for a name change from Senticore to Integrative Health Technologies is consistent with Senticore's increased emphasis on the acquisition of healthcare and nutritional portfolio companies. Although incomplete at this time, additional information on the company's healthcare emphasis can be found on it website, www.ihtglobal.com .
Forward-Looking Statement: Statements that are not historical facts are forward-looking statements. The Company, through its management
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quote:Originally posted by JimSC: Thanks, Juice, for the daily PR thresd. It's a great contribution. I hope many members can chip in and help your project.
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