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:7/23/2014)... (PRWEB) July 23, 2014 DuPont Pioneer ... business as vice president of Agricultural Biotechnology (ABT), effective ... where he served most recently as president, chief executive ... and business leadership in the seed and crop protection ... Paul E. Schickler , president of DuPont Pioneer. ...
(Date:7/23/2014)... 23, 2014  GrowBLOX Sciences, Inc. (OTCQB: GBLX), a medical ... filing for two medical marijuana dispensary locations in ... to the Clark County, Nevada dispensary ... as previously announced.  GrowBLOX Sciences, CEO Craig ... new applications for dispensaries in the City of ...
(Date:7/23/2014)... Plainsboro, N.J. (PRWEB) July 23, 2014 ... Lineberger Comprehensive Cancer Center has joined its Strategic ... the Strategic Alliance Partnership program, UNC Lineberger will ... team to raise awareness of its cutting-edge research ... Experts from UNC Lineberger will work with OncLive ...
(Date:7/22/2014)... NJ (PR Web) July 21, 2014 (PRWEB) July ... Center for Biomaterials, at Rutgers University. , ... information and ideas across the full spectrum of ... on selected research and development topics that represent ... Activities have been programmed to:, ...
Breaking Biology Technology:DuPont Pioneer Names Neal Gutterson to Lead Agricultural Biotechnology 2DuPont Pioneer Names Neal Gutterson to Lead Agricultural Biotechnology 3GrowBLOX Sciences, Inc. Files for Two Additional Medical Marijuana Dispensaries in Las Vegas 2GrowBLOX Sciences, Inc. Files for Two Additional Medical Marijuana Dispensaries in Las Vegas 3OncLive Expands Its Strategic Alliance Partnership Program With the Addition of UNC Lineberger Comprehensive Cancer Center 2OncLive Expands Its Strategic Alliance Partnership Program With the Addition of UNC Lineberger Comprehensive Cancer Center 3The 2014 NJ Symposium on Biomaterials Science Earns Society for Biomaterials Endorsement 2
... Detailed data from,a randomized Phase 2 study with PROSTVAC(TM) ... presentation was made by Philip Kantoff,MD, Professor of Medicine, ... also the principal investigator of the study. , ... that were reported,in October 2008. In the Phase 2 prospective ...
... (Nasdaq: PCYC ) today announced that it filed ... Exchange Commission (the "SEC") for a rights offering to its ... the distribution of non-transferable subscription rights to purchase shares of ... a subscription price to be determined. Assuming the rights ...
... Technology with High Definition MS (HDMS) Defines New Levels ... Opens New Frontiers in Scientific Discovery , , ... WAT ) announced today the introduction of a powerful ... System. Taking qualitative and quantitative quadrupole time-of-flight mass spectrometry ...
Cached Biology Technology:PROSTVAC(TM) Data Presented at the ASCO Meeting Demonstrates the Potential for Significant Increases in Life Expectancy in Late-Stage Prostate Cancer 2PROSTVAC(TM) Data Presented at the ASCO Meeting Demonstrates the Potential for Significant Increases in Life Expectancy in Late-Stage Prostate Cancer 3Pharmacyclics Files Registration Statement for Rights Offering 2Pharmacyclics Files Registration Statement for Rights Offering 3Pharmacyclics Files Registration Statement for Rights Offering 4Waters Introduces New SYNAPT G2 with Greater Power, Versatility and Speed Than Any Other High-End Mass Spectrometer 2Waters Introduces New SYNAPT G2 with Greater Power, Versatility and Speed Than Any Other High-End Mass Spectrometer 3Waters Introduces New SYNAPT G2 with Greater Power, Versatility and Speed Than Any Other High-End Mass Spectrometer 4Waters Introduces New SYNAPT G2 with Greater Power, Versatility and Speed Than Any Other High-End Mass Spectrometer 5Waters Introduces New SYNAPT G2 with Greater Power, Versatility and Speed Than Any Other High-End Mass Spectrometer 6
(Date:7/23/2014)... personalized cancer medicine, (the WIN consortium), recently announced that ... University will be one of its six new ... in the Tri-State Area. The goal of WIN is ... the patient by forging collaborations between partners in academia, ... WIN consortium means Jefferson cancer patients will have access ...
(Date:7/23/2014)... local and national governments struggle to deal with ever-growing ... refining the picture of just how much there is ... ACS journal Environmental Science & Technology , their ... developed countries discard floods into just seven developing countries ... who live there. , Knut Breivik and colleagues note ...
(Date:7/23/2014)... NY -- The potential for clinical use of ... therapeutic strategies has previously been hindered by the ... of tumors. The ability to use etoposide treatment ... treatment of heart disease, specifically acute myocardial infarction, ... Cells and Development , a peer-reviewed journal from ...
Breaking Biology News(10 mins):New partnership brings more personalized cancer treatment to Philadelphia 2
... Research!America Chair John Edward Porter says federal budget negotiations ... "The rancorous budget debates between the White ... in science and innovation is tenuous at best if spending ... the House and Senate would put funding for medical research ...
... tend to give their developing embryos short shrift, but ... the babies once they,re born, according to a study ... Stress changes the way animals allocate energy. ... that help the body to access stored energy. But ...
... remember faces and voices of several known individuals. Similarly, ... of known individuals after a number of years. Markus ... Biology of the University of Vienna show in their ... ravens differentiate individuals based on familiarity. Additionally, they discovered ...
Cached Biology News:Lizard moms may prepare their babies for a stressful world 2
PC based system for advanced chemifluorescent, chemiluminescent, fluorescent and colorimetric, microarray and microscope imaging and analysis....
PC based system for superior chemifluorescent, chemiluminescent, fluorescent and colorimetric, microarray and microscope imaging and analysis....
Rabbit Polyclonal antibody to Perilipin Applications: This antibody is useful for Western blot anlaysis where a band at ~60 kDa is seen....
Conveniently document gels, films and membranes with a high quality thermal printer. , Compact, footprint printer , Supplies 256 gray scale for high resolution, archive-quality thermal film prints...
Biology Products: