LONDON--(Marketwire - May 10, 2010) - ChromoCure, Inc. (PINKSHEETS: KKUR) issued preliminary investor guidance on its recently announced $29,000,000 Merger and Acquisition of Genome Research Group.
Merger and Acquisition Agreement
On May 7, 2010, the Company completed the equity-based Merger and Acquisition Agreement with Genome Research Group, a private company that develops proprietary cancer analysis systems and related therapeutic technologies and treatment protocols. The transaction results in significant increases to shareholder equity and reductions in long-term liabilities.
The transaction is valued at $29,000,000 representing the valuation of the GRG operations and assets, including GRG's proprietary advanced therapeutic modeling protocols and algorithms utilizing hypothermic modulation and resonance. Included also is GRG's therapeutic results and findings, methodologies and proprietary knowledge in the non-toxic and non-invasive treatment of cancer.
Merged Operations, Capabilities and Direction
The amalgamated company will:
- Operate under new GRG management;
- Integrate both Companies' operations and Intellectual Property (IP) assets;
- Be renamed Genome Research Group;
- Move its main operations to GRG's base in London, UK.;
- Continue its collaboration and research initiatives in the United States as well as expanding these efforts throughout Europe;
- Possess complementary detection and therapeutic technology and protocols, comprised of ChromoCure's advanced detection system and GRG's full line of therapeutic protocols and technology;
- Possess the first time real-time progression monitoring and remission detection;
- Provide the world's first cure research fully integrated system for the precise measurement of treatment and results;
- Establish a worldwide network of diagnostic and research collaborations with continuous collection of cancer specimen and test result data.
Investors can anticipate updates on the following:
- Elimination of prior corporate debt and addition of new technology assets.
- Appointment of industry professionals to the Company's Advisory and Business Development Boards.
- New additions and expansions to the Company's Intellectual Property assets
- New technology and Joint Development agreements and status reports on current projects
- Full business plan information and regular technology briefings on the company's technology development, licensing and distribution
- Full disclosure documents and financials posted with the OTC Disclosure Service
- Further updates on research collaborations, laboratory partnerships, and research initiatives, including the expansion of Pathologist Collaborative Research (PCR) program in North America, the Euro Zone and the rest of the world
- Continue support of the groundbreaking Project Boveri: Find the Cure Initiative
Financial Reporting and Regular Disclosures
The Company believes transparency is essential to an orderly and healthy market in its stock. The updated financials reflecting the $29 million asset acquisition, merger and resultant share restructuring, together with updates on name change, new website and other operational updates will be released as part of the Company's ongoing OTC disclosure practices.
SEC "Fully reporting" and regular SEC filings
The Company does not intend to become a "SEC fully reporting" company and subject itself to the burden of SEC filings. The Company believes the massive time and cost burdens of maintaining SEC filings are a material threat to the company's operations and profitability. The company will maintain public disclosures that meet or exceed SEC 'reporting' criteria.
Revenue Projections and Market Analysis
The Company receives many inquiries regarding its technology, sales projections, and market strategy. The Company intends to disclose and make public several important components of its business plan combined with technology overviews and project updates. These disclosures will contain various analyses of specific sectors of the industries we target. Contained within the market surveys and analyses will be revenue projections. Upon release of the disclosures and posting on the Company's web site, they will be filed with the OTC Disclosure Service to ensure all investors access to current information.
Recent Stock Price and Market Valuation
Many stockholders have queried the Company's recent low stock price. The Company has only recently revised and expanded its business plan after a lengthy overhaul of operations. The Company's current share price may not be an accurate reflection of the company's actual value. The Company believes its market capitalization will steadily, and perhaps dramatically, improve with each passing week as more learn of the company's technology, vision, and its performance.
Management believes the transaction to be of significant long-term shareholder value and furthers the Company's transition to research, technology development, and licensing as a source of significant long-term and recurring revenues and equity appreciation; as the companies leverage their combined technologies, research knowledge and industry relationships.
About Genome Research Group, Inc.
The Company develops and provides proprietary cancer detection systems and related therapeutic technologies. The Company's proprietary cancer detection system locates and measures unique genomic characteristics found in 100% of all cancers and never found in normal cells. The Company's detection technology has a proven and effective accuracy of 100% for all cancers at all stages. The Company's proprietary Therapeutic Modeling Protocols provide statistical modeling and prediction tools for the measurement and monitoring of cancer progression and remission. The Company also applies its technology and knowledge to cancer cure and therapeutics research. The Company owns proprietary cancer detection systems and related therapeutic technologies and proprietary techniques for non-toxic and non-invasive cancer therapy utilizing hypothermic modulation and resonance. The Company's proprietary CS200 Chromosomal Scanner has been proven accurate and efficient in the measurement of the unique genomic characteristic found in 100% of all cancers and never found in normal cells. The Company's detection technology has an effective accuracy of 100% for all cancers at all stages. GRG's advanced Therapeutic Modeling and Treatment Protocols combined with its industry and medical research collaborations validate its leadership role in Cancer Detection, Therapy and Cure.
The Company believes its technology will become the worldwide gold standard for cancer detection, progression measurement, and research for both therapy and cure. The Company also applies its technology and knowledge to cancer cure and therapeutics research.
This release contains statements or projections regarding future performance that is forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's filings contain various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.