China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that its wholly owned subsidiary, SurgLine will deliver its first surgical instrumentation products to one of Denver's largest acute care hospital systems for use by one of its outpatient surgery centers.
Mr. Thomas Toland, CEO of SurgLine, was quoted as saying "We are very pleased to be working with Tandem Receivable Solutions and its first hospital client in the Denver marketplace. We believe that this delivery of surgical instruments and implantable products will be a great opportunity for us to showcase our high quality, value priced products in the Denver marketplace. We are confident that this not only will lead to future orders with this particular customer, but gives our Company additional credibility to take advantage of further opportunities in the Midwest."
During the past few days the Company has received numerous shareholder inquiries regarding share ownership and dilution. As discussed in the 8K filed on September 8, 2011 all of the shares of common stock issued pursuant to the SurgLine acquisition (equal then to 80% of total shares outstanding) were restricted shares, which are not eligible for sale for six months under Rule 144 and are also subject to 1% volume limitations. The Board of Directors and major shareholders are meeting today to consider a lock-up agreement for an additional period of time as well as other restrictions. The Company believes these measures will align shareholder and management interests in creating the confidence in management's objective of building long term value.
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