posted
I'm out, cutting my losses, couldnt take anymore of this pain. I dont have the patience to hold this, i needed to free up some funds anyways. Money to be made elsewhere! GL to all still in this!
-------------------- All posts are my opinion only!! Do your own DD!!
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BioStem (BTEM) Announces: Merger With Cryobanks International, Inc. Accelerates as Due Diligence for $9.0M Financing Nears Completion BioStem, Inc. (OTCBB: BTEM) announced today that Cryobanks International, Inc. (Cryobanks), which has agreed to be acquired by BioStem, Inc., has supplied specifically requested corporate documents and information to Samarium Technology Group, Ltd. (STG), the private investment fund, in efforts to satisfy all requirements needed to complete the $9.0M capital infusion previously announced on March 15, 2007. It is the belief of the Cryobanks organization that STG will complete the proper due diligence by mid May. STG has indicated that a meeting finalizing the due diligence process, will be scheduled within the first two weeks of May at the Altamonte Springs, Florida offices of Cryobanks International, Inc.
In the event that STG completes the due diligence to its satisfaction, and the financing closes as agreed in the previously announced letter of intent, Cryobanks will have satisfied the final remaining condition to the closing of the Agreement and Plan of Merger with BioStem, Inc. In such event, the merger would proceed to closing as originally contemplated.
"We are excited to be moving closer to what appears to be our final stages within this merger process. Cryobanks, in addition to its continued growth, has responded with a positive sense of urgency in fulfilling all requests submitted to date. We are confident that the process of obtaining the described capital infusion will be completed as anticipated, and the merger will proceed to be finalized in the very near future," stated Marc Ebersole, CEO of BioStem, Inc.
About Cryobanks:
Cryobanks International is located in Altamonte Springs, FL. The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant. There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,700 donated cord blood units placed on international registries including The National Marrow Donor Program. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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Cryobanks International, Inc. Nears Completion of Due Diligence for $9.0 Million Financing Cryobanks International, Inc. (CI) announced today that it has provided a substantial amount of documents and information to the $9.0 million investor as previously announced on March 15, 2007. The investor sent a list of due diligence questions to CI, and CI is hopeful that the investor will complete due diligence by mid May. The investor has indicated that a due diligence meeting at CI's offices in Altamonte Springs, Florida, will be scheduled within the first two weeks of May.
In the event the investor completes due diligence to its satisfaction, in its sole discretion, and the financing closes as agreed in the previously announced letter of intent, then CI will have satisfied the final remaining condition to the closing of the Agreement and Plan of Merger with BioStem, Inc. (OTCBB: BTEM). In such event, the merger would proceed to closing as contemplated in the Agreement and Plan of Merger. There can be no assurance that the investor will approve due diligence or close the financing.
About Cryobanks:
Cryobanks International is a corporation located in Altamonte Springs, Florida. The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant (BMT). There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,700 donated cord blood units listed on international registries including the National Marrow Donor Program. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.
Safe Harbor Statement
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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posted
Same scenario as back in March...Very manipulated...Believe we will see 2 to 3 pr's a day for the next couple of weeks...alot of activity....Nice atm if played with that in mind
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BioStem (BTEM) Announces: Cryobanks Experiences Remarkable Growth of Over 300 Percent in Four Years; Completed Tax Filings Show First Year of Profitability Company Celebrates Entrance to 14th Year of Business BioStem, Inc. (OTCBB: BTEM) announced today that Cryobanks International, Inc. (Cryobanks), which has agreed to be acquired by BioStem, Inc., has experienced remarkable growth as its organization announces an increase of over 300 percent in the past four years. Cryobanks additionally celebrates two monumental milestone as tax filings are completed which result in its first year of profitability, as well as an entrance into its 14th year of business.
The Cryobanks Company has seen its business grow all over the world in a short period of time, establishing licensees in Athens, Greece and Delhi, India. Eight additional facilities are under contract, including one in Bangkok, Thailand, which will open within the next 60 days.
"While we've had tremendous success, we also want the cord blood industry to continue to grow," says Dwight C. Brunoehler, Founder and President of CI. "Public education will be the key to ensure growth and an understanding of the overwhelming benefits of cord blood donation at delivery."
With one of the largest cord blood inventories in the country and a growing presence nationally and internationally, CI has become a leader in the industry. Accredited by the American Association of Blood Banks, the Company is one of 13 cord blood banks worldwide that form the National Marrow Donor Program's Center for Cord Blood, providing physicians and their patients access to the most diverse inventory of cord blood units in the world. Its inventory of more than 9,700 units of cord blood donations is part of international registries available to anyone who needs a transplant. That inventory has grown by more than 50 percent over the last four years.
About Cryobanks:
Cryobanks International is located in Altamonte Springs, FL. The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant. There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,700 donated cord blood units placed on international registries including The National Marrow Donor Program. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.
Safe Harbor Statement
This press release contains "forward-looking statements" by the Company. These statements relate to future events or financial performance and transactions, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements, to be materially different from those contemplated by the forward-looking statements. There can be no assurance that the acquisition described herein will successfully close. We undertake no ongoing obligation, other than that imposed by law, to update these statements. Factors that could affect results, levels of activity, performance or achievements and cause them to materially differ from those contained in the forward-looking statements include the failure to complete the merger of BioStem, Inc. (OTCBB: BTEM) and Cryobanks International, Inc., which cannot be assured and which remains subject to financing conditions contained in the previously announced Agreement and Plan of Merger, the failure of the financing announced on March 15, 2007 to close, which cannot be assured and remains subject to completion of due diligence by the investor, and other factors that can be found in BioStem's filings with the Securities and Exchange Commission.
BTEM Announces: Cryobanks' International Licensing Campaign Propels Forward as Eight Facilities Are Now Under Contract; Campaign Targets 11 Additional Countries Producing Over $25M in Revenues BioStem, Inc. (OTCBB: BTEM) announces: Cryobanks International (Cryobanks), which has agreed to be acquired by BioStem, Inc., has implemented an expansion to its global marketing campaign due to the heightened demand for licensing of its world-recognized cord blood technology. In addition to the eight facilities presently under contract, the marketing & sales campaign will now encompass over 11 countries with revenue projections exceeding $25M.
Cryobanks, which possess one of the world's largest cord blood stem cell inventories, intends to implement its cord blood technology through multiple international licensing agreements through representation by contracted industry experts. Through each licensing agreement, Cryobanks will receive large initial compensation as well as annual royalties.
According to Cryobanks' CEO, Dwight Brunoehler, "The overwhelming demand for the unique service that Cryobanks provides taxes our in-house staff to the limit. Having local representation on the ground in each targeted country will help to identify and prioritize our opportunities."
At the time of writing, Cryobanks has facilities in Athens, Greece and Delhi, India. Of the eight facilities under contract, the Bangkok, Thailand location is expected to open within the next 60 days. Detailed revenue breakdowns as well as progress updates covering the presently operating facilities will be released in the near future.
About Cryobanks:
Cryobanks International is located in Altamonte Springs, FL. The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant. There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,700 donated cord blood units placed on international registries including The National Marrow Donor Program. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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