PHOENIX, April 28 /PRNewswire-FirstCall/ -- Motion DNA Corporation (Pink Sheets: MTDX), announced today that Formula 51-2, LLC, an Arizona investment company, has made a bonafide offer to acquire all of the outstanding shares of the company at a price of $2.50 per share.
The offer was made in a letter dated April 26, 2005 directed to Zig Ziegler, President of Motion DNA Corp. The offer is subject to the approval of the Motion DNA board of directors, among other conditions, as set forth in the letter.
Motion DNA’s board of directors is currently considering the terms and conditions of the offer. If accepted the company will follow-up with an announcement to current shareholders a date and time for the appropriate shareholder meeting along with all information on the offer including the directors’ recommendations as to whether or not they should accept the offer. Motion DNA is required to submit a response or counter to the offer by Friday, April 29, 2005.
The company desired to keep the negotiations secret until a final the final deal could be reached. But after under advice of legal counsel decided to communicate the offer to shareholders before the company issued a response, which is due on Friday.
About Formula 51-2, LLC:
Formula 51-2, LLC is an Arizona investment company. The company was organized under the laws of the state of Arizona on June 6, 2003, by former NFL all-pro football player Jamir Miller. Now retired from professional football where he starred on teams in Cleveland and Arizona, Miller has under taken several business ventures including, a real estate development company, food processing center, and several other business ventures. Formula 51-2’s mission is to locate and enhance existing, undervalued businesses through investments, mergers and acquisitions.
About Motion DNA:
Motion DNA Corporation provides diagnostic testing for medical professionals and sports organizations. Motion DNA’s biomechanical analyses and detailed reports provide its customers and consumers with solutions for preventing injuries, identifying physical limitations, diagnosing pre-existing injuries related to biomechanics, and improving physical performance levels. For additional information on the company, please visit the company website at http://www.motiondnacorp.com/.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
For more information on Motion DNA Contact: Investor Relations Motion DNA Corporation 15023 N. 73rd Street Scottsdale, Arizona 85260 1.877.425.7734 toll free 480.425.7734 phone 480.991.7736 fax
Motion DNA Corporation
CONTACT: Investor Relations of Motion DNA Corporation, toll free,+1-877-425-7734, or +1-480-425-7734, or fax, +1-480-991-7736
Web site: http://www.motiondnacorp.com/