posted
WE ALL KNOW HOW THIS ONE RUNS!!!! ANOTHER PR COMING ALSO SO LETS HAVE SOME FUN IN THE AM!!!!!
Senticore, Inc. Closes Merger and Reorganization Agreement Replacing Management and Reducing Existing Liabilities 6/14/2006
SAN ANTONIO, June 14, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Senticore, Inc.'s (OTC Bulletin Board: SNIO) recent 8-K and Schedule 14F-1 filings report the closing of its merger and reorganization plan with Integrative Health Technologies, Inc. ("IHT"). The merger and reorganization was closed on June 3, 2006. At that time, Jay Patel resigned all of his positions, including Chairman and Chief Executive Officer. The Board of Directors appointed IHT's CEO, Dr. Gilbert R. Kaats, Ph.D., as Chairman and Chief Executive Officer of Senticore.
The filings also disclosed that Senticore's current liabilities were reduced by $736,400. "I think it is important for our shareholders to know that this was not the result of the investment of additional funds," said Kaats. "We offset these liabilities by providing the creditors with preferred shares in Taj Systems, Inc., one of our portfolio companies that trades on the Pink Sheets under TJSS. Thus, while our liabilities were reduced, so were our assets," Kaats pointed out.
Senticore used Taj shares to discharge liabilities of $736,400, implying a valuation of $0.28 per Taj share. The open market trading price of Taj shares has increased during 2006 from approximately $0.11/share in January to its current price of approximately $0.32/share. "However, even after offsetting the $736,400 of liabilities with Taj shares, Senticore retains approximately 4,246,394 shares and its controlling interest in Taj," Kaats said.
"The acquisition of Taj Systems shares in November 2005 was accomplished by the previous management team, Jay Patel and Carl Gessner," Kaats explained. "Senticore obtained approximately 7 million preferred shares representing about a 40% ownership and controlling interest in the company. Since then, Patel and Gessner have played an aggressive role in the management of Taj as explained in a series of news releases issued by TJSS." Kaats added that both Patel and Gessner, the latter as President, are continuing to serve as Taj System's Management team.
Senticore's new management team is continuing to focus their energies on its research and development activities, particularly its $1,300,000 grant previously awarded to IHT Research & Development, Inc., one of Senticore's portfolio companies. This grant is to conduct clinical trials involving 400 subjects from ages 8 to 80, to develop a bone-health program. "Our inclusion of adolescents in this study is in direct response to the U.S. Surgeon General's 'call to action' to the healthcare industry in light of a study finding that almost 85% of high school girls are receiving insufficient amounts of bone-building nutrients for normal growth," said Sam Keith, the R & D company's CEO. "This nutritional deficiency is particularly troublesome," Keith pointed out, "since most of the adolescents' bone growth occurs during these critical early years."
"We are currently preparing a press release to update the progress we have made on this study," added Kaats.
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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Thanks Matto love this stock been playing it a while
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Its a real pr and a good runner, we havnt had one of these this week! so get in and go for the ride!! everyone trading needs one so it could be big! just my opinion!
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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matto, juice, et al. ...lend a prediction (not that i'll hold ya to it if it's wrong) :-) just somethin' to get my blood going after this lame day... didn't lose much... just got bored outta my mind.
SNIO --
open: ? close: ? gap: ? high: ? low: ?
GLTA,
-------------------- Cashing checks in two forms: Money and Reality
GLTA, The Phat Man Posts: 1236 | Registered: Apr 2006
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Hey Matto - Already a thread on this one. I'll leave the question here until they close it. Answer if you get a chance. Tks
Posts: 2132 | Registered: Sep 2004
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Doesn't matter to me. I see they usually close one when they catch a dup out here. Your title got me to looking at it. Curiosity gets me every time.
Posts: 2132 | Registered: Sep 2004
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Senticore, Inc. Closes Merger and Reorganization Agreement Replacing Management and Reducing Existing Liabilities
