Navigation Links
Favrille Announces Execution of Non-binding Term Sheet for a Merger Transaction
Date:10/24/2008

SAN DIEGO, Oct. 24 /PRNewswire-FirstCall/ -- Favrille, Inc. (OTC Bulletin Board: FVRL) announced today that it has entered into a non-binding term sheet for a reverse merger whereby Favrille would acquire all of the capital stock of a private company, MyMedicalRecords.com, Inc. ("MMR"), in a stock for stock merger that would result in MMR becoming a wholly-owned subsidiary of Favrille. If the proposed transaction is consummated on the terms set forth in the non-binding term sheet, at the effective time of the merger, the existing equity holders of MMR would own approximately 64% of the equity of Favrille on a fully diluted basis. The existing equity holders of Favrille would own approximately 29% of the Company. Approximately 7% of Favrille's equity would be newly issued to certain creditors as settlement for a portion of the outstanding debt obligations. Favrille is in the process of negotiating with its creditors to settle its current liabilities and is required to make disclosures to creditors regarding the potential merger as part of the settlement process. Favrille's progress in settling its creditor claims, consistent with a creditor plan that is outlined in the non-binding term sheet with MMR, is a condition to the signing of a definitive agreement for the proposed merger. It is anticipated that post merger, Favrille's common stock will continue to be traded on the OTC Bulletin Boards.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080404/LAF521LOGO)

The proposed merger is subject to completion of mutual diligence and the negotiation of a definitive agreement. Any definitive agreement will contain conditions to closing, including a requirement to complete specified creditor settlements, and the approval of the proposed merger by the MMR stockholders. There can be no assurance that the parties will be able to reach a definitive agreement or consummate the pro
'/>"/>

SOURCE Favrille, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Favrille Announces Receipt of Nasdaq Letters
2. Favrille Announces Resolution of Debt Obligations and Plans for Maximizing Assets
3. Favrille Announces Workforce Reduction
4. Favrille Announces Results from Phase 3 Registration Trial of Specifid in Patients with Follicular B-Cell Non-Hodgkins Lymphoma
5. Favrille Reports First Quarter 2008 Financial Results
6. Favrille to Host Conference Call and Live Webcast to Discuss First Quarter 2008 Financial Results on May 8, 2008
7. Favrille Reports Fourth Quarter and Year End 2007 Financial Results
8. Favrille Announces $21.1 Million Registered Direct Offering
9. Favrille to Present at BIOCOM Investor Conference, Acumen BioFin Rodman & Renshaw Healthcare Conference and CIBC World Markets Healthcare Conference
10. Favrille to Host Conference Call and Live Webcast to Discuss Third Quarter 2007 Financial Results on October 25, 2007
11. Favrille to Present at BIO InvestorForum
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/24/2014)... Boston, MA (PRWEB) December 23, 2014 ... presentation, Dr. James L. Sherley, director of the Adult ... attention on an often overlooked and under appreciated unique ... “Asymmetric Self-Renewal by Distributed Stem Cells: Misunderstood in the ... his message to congress participants. He gave the ...
(Date:12/24/2014)... MD (PRWEB) December 23, 2014 ... into law H.R. 83, the Omnibus and Continuing ... first time, made hydrocephalus a condition eligible to ... Programs (CDMRP) administered by the Department of Defense ... with its allies on Capitol Hill, is celebrating ...
(Date:12/24/2014)... Dallas, Texas (PRWEB) December 23, 2014 ... on methyl mercaptan such as its definition, ... also presents product specification, manufacturing process, and ... regions, technology and applications. The analysis also ... survey, marketing channels, industry development trend and ...
(Date:12/24/2014)... The report expects global cell isolation and ... also provides a carefully analyzed data about the vital ... market. , Full Copy of Report @ http://bit.ly/1yUxy0T ... for cell expansion will keep witnessing growth at an ... to be driven by rapid technological advancements, government funding ...
Breaking Biology Technology:Adult Stem Cell Technology Center, LLC’s Director Sherley's Address on What’s Holding Back Regenerative Medicine Featured on Omics Group Website 2Adult Stem Cell Technology Center, LLC’s Director Sherley's Address on What’s Holding Back Regenerative Medicine Featured on Omics Group Website 3Adult Stem Cell Technology Center, LLC’s Director Sherley's Address on What’s Holding Back Regenerative Medicine Featured on Omics Group Website 4Rare Brain Condition Now Eligible for Department of Defense Research Dollars 2Worldwide Methyl Mercaptan Market 2015-2020 Forecasts on Development & Trends Now Available at ReportsnReports.com 2The Cell Expansion Market is Expected to Reach $14.8 billion by 2019 - New Research Report by MarketsandMarkets 2The Cell Expansion Market is Expected to Reach $14.8 billion by 2019 - New Research Report by MarketsandMarkets 3
... sciences for 2004 and what impact will these have on the ... the land of biotech and pharmaceuticals, the answer could be: , ... cardiovascular side effects and the resultant scrutiny on the FDA for ... the way, the recent Pfizer debacle with Celebrex in the last ...
... Larry Landweber knows networks. The University of Wisconsin-Madison ... forge some of the early international channels of the Internet. ... and its all about finding the right applications to ... WTN from Washington, D.C., where he works for the ...
... competition soon. A coalition of research and metropolitan ... an incubator for start-up biotech companies. , ,The ... new companies in, said representatives of the Milwaukee Biomedical ... attract companies to the area. , ,Guy Mascari, director ...
Cached Biology Technology:The greatest life-science developments of 2004 2The greatest life-science developments of 2004 3The greatest life-science developments of 2004 4The greatest life-science developments of 2004 5The greatest life-science developments of 2004 6The greatest life-science developments of 2004 7Landweber on networks, open source, and NSF budget cuts 2Landweber on networks, open source, and NSF budget cuts 3Landweber on networks, open source, and NSF budget cuts 4Milwaukee research alliance sees need for incubator 2
(Date:12/10/2014)... Dec. 8, 2014 You,ve been here before: you ... can,t remember your password, site key or the answer to ... first grade teacher? Today, Hoyos Labs ... app that will finally put an end to the frustration ... TM . 1U leverages a user,s smartphone to acquire ...
(Date:12/10/2014)... CIE San Diego has launched an innovative ... tissue that enhances care coordination among social service and ... information; earned a second $1 million grant from the ... aging in community and; will be recognized as a ... 4-6p. CIE San Diego today announced ...
(Date:12/5/2014)... Calif. , Dec. 4, 2014 ... has boosted investments in new testing and inspection ... also given rise to a range of innovative ... the requirements of Generation Y, which is generally ... As a result, product development strategies of test ...
Breaking Biology News(10 mins):The Password is Finally Dead: Launch of 1U Mobile App Eliminates Need for All Usernames and Passwords 2The Password is Finally Dead: Launch of 1U Mobile App Eliminates Need for All Usernames and Passwords 3Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 2Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 3Community Information Exchange San Diego Launches Pilot, Secures $1 Million Expansion Grant, and Becomes a "Live Well San Diego" Partner 4Emerging Technologies Enable Smarter Monitoring of Assets, Push Industrial Testing, Inspection and Monitoring Market 2Emerging Technologies Enable Smarter Monitoring of Assets, Push Industrial Testing, Inspection and Monitoring Market 3Emerging Technologies Enable Smarter Monitoring of Assets, Push Industrial Testing, Inspection and Monitoring Market 4
... NY - JDRF said today that it has recognized the ... accelerating the pace of science in understanding the autoimmune attack ... the severe complications of this chronic and life-threatening disease. ... are Dr. Jeffrey A. Bluestone, Director of the Diabetes Center ...
... it much harder to evade justice in future, thanks to an ... tiny tags just 30 microns* in diameter and invisible to ... cartridges. They then attach themselves to the hands or gloves of ... completely. Crucially, some of these ,nanotags, also remain on ...
... United States die every year from uncontrolled infections of ... pushing the boundaries of molecular science to find new ... measure of an immune system protein within 24 hours ... can predict survival in children, yielding a powerful tool ...
Cached Biology News:JDRF announces 2008 Scholar Award recipients 2JDRF announces 2008 Scholar Award recipients 3Guilt on their hands: tiny 'tags' could help to solve and deter gun crime 2Immune system protein accurate predictor of survival in pediatric septic shock 2Immune system protein accurate predictor of survival in pediatric septic shock 3
... Fixed clamp trays and universal trays ... Magnetic drive Shaking speed: ... 25 mm amplitude Clamps ... 2000 ml, including Fernbach flasks ...
... convenient, and efficient Denatured protein concentration following ... spin column to make handling easy. The ... which were electro-eluted in their Denatured condition. ... high binding capacity fo all pH values. ...
In Western blotting antibodies recognize 94 K protein band, which corresponds to S-layer protein...
High affinity antibodies recognizes HSP70 protein from human cardiac tissue. Could be used for Westerb blotting application, ELISA....
Biology Products: