Centrex Retains American Financial Group, Includes $500K Bridge Loan
FRIDAY , MARCH 05, 2004 01:24 AM
Mar 5, 2004 (financialwire.net via COMTEX) -- (FinancialWire) Centrex, Inc. (OTCBB: CNEX) has retained First American Financial Group, a private equity firm with offices in New York, to act as a financial consultant for the Company.
Centrex has signed a term sheet with First American for up to $3.5 million in funding which includes an initial bridge loan of $500,000. The financing is contingent upon entering into definitive documentation. First American is a boutique Financial Services firm specializing in procuring capital for emerging growth small-cap and micro-cap companies.
"We are pleased to be associated with Centrex, a company that is in the process of developing a technology to provide for the immediate detection of agents that could be used in bioterrorism or biowarfare against the U.S.," stated Bill Rogers, Managing Director of First American.
Centrex owns the exclusive worldwide license to develop, manufacture and market the Single Molecule Nucleic Acid Detection (SMD) technology developed at Los Alamos National Laboratories. SMD offers important advantages over existing DNA and RNA detection methods as well as culture-based test methods for the detection and identification of bacteria and viruses.
SMD technology, in combination with an easy-to-operate lab card device and integrated reader, is expected to be responsive to the need for rapid, user friendly and cost effective solutions for point-of-use analyses of a variety of bacterial and viral organisms. This unique technology eliminates the need for amplification of the target DNA by recognizing the unique DNA or RNA fingerprint of the target organism. This reduces the possibility of false positive and negative test results -- common concerns frequently identified with other test procedures.
Centrex is currently developing a fully automated, network-capable system for detecting microbial contamination in air, food and water. The proposed device is a simultaneous multi-channel detection system that is compact, fully automated and capable of monitoring the presence of biological agents in air, food and water.
Centrex was enrolled in Investrend Research's unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following, but its coverage is presently suspended due to the company's failure to provide access to the analyst as required by the issuer standards of the Association for Investment Management and Research.
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CNEX: Filed 8-K Regarding Subsidiary Formation Revocatn (Mar-02 PR)
WEDNESDAY, MARCH 03, 2004 05:04 PM
In a new 8-K filing, Centrex Inc (OTCBB: CNEX) disclosed a previous press release, originally from March 02, 2004, regarding Subsidiary Formation Revocatn.
READ COMPLETE SEC FILING FOR DETAILS
CNEX CENTREX INC
FALA FIRST AMERICAN BANCORP
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Centrex Retains First American Financial Group
WEDNESDAY, MARCH 03, 2004 01:28 PM
TULSA, Okla., Mar 3, 2004 (BUSINESS WIRE) -- Centrex, Inc. (OTCBB:CNEX) today announced that FIRST AMERICAN FINANCIAL GROUP, a private equity firm with offices in New York, has been retained to act as a financial consultant for the Company. Centrex has signed a term sheet with FIRST AMERICAN for up to $3.5 million in funding which includes an initial bridge loan of $500,000. The financing is contingent upon entering into definitive documentation. FIRST AMERICAN is a boutique Financial Services firm specializing in procuring capital for emerging growth small-cap and micro-cap companies.
"We are pleased to be associated with Centrex, a company that is in the process of developing a technology to provide for the immediate detection of agents that could be used in bioterrorism or biowarfare against the U.S.," stated Bill Rogers, Managing Director of FIRST AMERICAN.
Centrex owns the exclusive worldwide license to develop, manufacture and market the Single Molecule Nucleic Acid Detection (SMD) technology developed at Los Alamos National Laboratories. SMD offers important advantages over existing DNA and RNA detection methods as well as culture-based test methods for the detection and identification of bacteria and viruses.
SMD technology, in combination with an easy-to-operate lab card device and integrated reader, is expected to be responsive to the need for rapid, user friendly and cost effective solutions for point-of-use analyses of a variety of bacterial and viral organisms. This unique technology eliminates the need for amplification of the target DNA by recognizing the unique DNA or RNA fingerprint of the target organism. This reduces the possibility of false positive and negative test results -- common concerns frequently identified with other test procedures.
Centrex is currently developing a fully automated, network-capable system for detecting microbial contamination in air, food and water. The proposed device is a simultaneous multi-channel detection system that is compact, fully automated and capable of monitoring the presence of biological agents in air, food and water.
This press release contains certain forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business. Those uncertainties are discussed in the Company's SEC filings.
SOURCE: Centrex, Inc.
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