Macada Holding, Inc. Announces Company Update
January 22 2010 - 6:30AM
Marketwired
Macada Holding, Inc. (PINKSHEETS: MCDA) announced the GCNV deal has
been canceled due to the structure of the company, and most
important it is not right for the shareholders. And the future
structure of what management is looking for to complete its plans
and vision.
Management intends to sell the company's subsidiary Lyfetec,
Inc. together with its assets to a more structured company and move
onto the OTC Bulletin Board as a reporting company. Management
stated that Macada Holding, Inc. has completed its audit on
Lyfetec, Inc. and will begin auditing Macada soon after the
acquisition is completed and closes next month. The company is now
in the process of finalizing definitive agreements regarding its
recently announced for Lyfetec to be acquired with a company
positioned to accommodate our needs. To this end, management will
increase the transparency of the company through public disclosure
and the posting of financial statements of Lyfetec, Inc. and the
new company.
Management stated that Lyfetec's continued focus will be in the
medical industry, and that the acquiring company will be released
upon completion of the closing, in addition to acquisition
agreements. As a fully reporting company, management has continued
to target other medical industry companies for acquisition which
are in place after the closing.
Once all deals are completed, Macada Holding shareholders will
receive a pro rata dividend of the new parent Bulletin Board
Company while retaining their Macada Holding shares. As of today's
date, the company's share structure is still the same.
Lyfetec, Inc. also announces, as of today that the company is
exploring the opportunity of an acquisition and merger of its first
pharmacy, two medical clinics and a distribution company with a
major national Pharmacy chain as a customer. Lyfetec, Inc.,
together with the clinics, plans to open its own laboratories for
the testing of our blood line test kits. We presently have
professional relationships in the United States and
Internationally, the company's global private brand license and
distribution rights with their manufacturing products to a broad
range of personal health monitoring and screening test kit products
and services, Lyfetec will be one of the first to market with over
150 medical kits with a unique position in this changing global
consumer health market. Our boxes for the first 8 major products
shall be completed next week.
Under the terms of the definitive agreement, the acquisition and
merger will be effected with a combination of Lyfetec preferred and
common stock, and is scheduled to close soon.
Management stated that more information will be released
subsequent to closing.
Safe Harbor Provision
This news release includes forward-looking statements, including
with respect to the future level of business for the parties. These
statements are necessarily subject to risk and uncertainty. Actual
results could differ materially from those projected in these
forward-looking statements as a result of certain risk factors that
could cause results to differ materially from estimated results.
Management cautions that all statements as to future results of
operations are necessarily subject to risks, uncertainties and
events that may be beyond the control of Macada Holding, Inc. and
no assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to,
the ability to procure, properly price, retain and successfully
complete projects, the availability of technical personnel, changes
in technology and competition.
Contact: Steven Cohen 954-772-2640
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