Navigation Links
SETO Holdings, Inc. Signs Agreement to Acquire Advanced Hearing Centers, Inc. and Will Dispose of All Existing Business; New Management to be Installed
Date:5/18/2009

BRIARCLIFF MANOR, N.Y., May 18 /PRNewswire-FirstCall/ -- SETO Holdings, Inc. (Pink Sheets: SETO) announced that it signed a definitive agreement to acquire from Sanjay Srivastava 100% of the capital stock of Advanced Hearing Centers, Inc. ("AHC"), a Maryland corporation formed in 2004 which provides hearing services and retails hearing aids from 11 locations in Maryland and one in Virginia. It is a condition to the closing of the AHC acquisition that the public company shall sell all of SETO's current businesses, i.e., industrial ceramics fabrication and contract manufacturing, to Eugene Pian, SETO's President, in exchange for all the shares of SETO Common Stock he owns, and that Mr. Pian will resign as an officer and director and cease all affiliation with the public company.

The closing is expected to take place on or about May 22, 2009. Following the closing there will be issued and outstanding 77,923,120 shares of the public company's Common Stock, of which the public shareholders will continue to own 7,792,312 shares, or 10% thereof. Sanjay Srivastava, AHC's founder and CEO, will become the owner of 90% of the outstanding Common Stock of the public company and he will become President and CEO of the public company.

The public company will schedule a conference call after the closing to existing and new shareholders. On this call Mr. Srivastava will discuss the public company's business and the forward looking goals of AHC. You also now can go to AHC's web site (877allears.com) or contact Richard Kepler, AHC's Director of Investor Relations, at 410-440-9700.

The public company intends to seek to raise additional capital through a private placement, using the proceeds to help finance expansion of AHC's hearing centers. In addition Mr. Srivastava intends to obtain the necessary audited financial statements and have the public company again make appropriate filings with the Securities Exchange Commission and become subject to the reporting requirements of federal securities laws.

Forward-Looking Statements: Statements in this new release regarding future financial and operating results, future expansion and growth, opportunities for the public company and any other statements about its future expectations, beliefs, goals, plans, or prospects constitute forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements, There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital and economic conditions generally. Forward-looking statements are based on the beliefs, opinions, and expectations of management at the time they are made, and the public company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.


'/>"/>
SOURCE SETO Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. LifeCare Holdings, Inc. Announces First Quarter Results
2. China Pharma Holdings, Inc. Reports First Quarter 2009 Financial Results and Corporate Updates
3. Brandes Proposes 40 yen Per Share Dividend for Mitsui Sumitomo Insurance Group Holdings, Inc. Annual Meeting
4. China Pharma Holdings, Inc. to Report First Quarter 2009 Financial Results on May 15, 2009
5. Duane Reade Holdings, Inc. Reports First Quarter 2009 Results
6. China Pharma Holdings, Inc. Retains Global Investor Communications Team
7. China Pharma Holdings, Inc. Appoints Chief Financial Officer and Board Member
8. JAG Media Holdings, Inc. Announces Update of the Status of its Proposed Acquisition of CardioGenics Inc.
9. Innophos Holdings, Inc. Schedules Call to Discuss First Quarter 2009 Results
10. Zimmer Holdings, Inc. Reports First Quarter 2009 Financial Results
11. Hill-Rom Holdings, Inc. Invites You to Join Its Fiscal 2009 Second Quarter Earnings Webcast
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... ... (PRWEB) February 23, 2017 -- ... to come together to combine its favorite springtime pastime – ... fruit – apples! To celebrate National Nutrition Month, the U.S. ... Madness” bracket tournament – a five-week, five-round online competition spotlighting ...
(Date:2/23/2017)... ... February 23, 2017 , ... HealthPostures, the desk for ... expert sit stand solutions representative to the Minneapolis Home and Garden Show which is ... event that is garnering national attention is the Minneapolis Convention Center. , From ...
(Date:2/22/2017)... ... February 22, 2017 , ... Our high-octane society demands higher ... sharpest brain. , Power On, a mental performance enhancer from Modus Nutrition, provides ... Each capsule contains Cognizin® Citicoline, a branded form of the brain health nutrient ...
(Date:2/22/2017)... ... 2017 , ... Secure Exchange Solutions, the leading provider of ... health information exchanges, physicians and patients, announced today that SES Direct earned the ... IT Module Certification via Drummond Group LLC, an Authorized Certification Body (ACB). This ...
(Date:2/22/2017)... ... February 22, 2017 , ... ... accurately understand each Medicare Advantage member’s risk, identify any gaps-in-coding, as well ... solution helps transform the HCC Risk Adjustment process from a typical fragmented ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... YORK , February 23, 2017 ... states have legalized cannabis for recreational use in 2016. According ... legal cannabis market was worth an estimated $7.2 billion in ... growth rate of 17%. While adult recreational sales are projected ... by 2020, with a 25% CAGR. The market may grow ...
(Date:2/23/2017)... , Feb. 22, 2017 This report analyzes analyzes ... The report provides separate comprehensive analytics for the US, ... Europe , Asia-Pacific , ... estimates and forecasts are provided for the period 2015 through ... markets. Market data and analytics are derived from primary and ...
(Date:2/23/2017)... DEERFIELD, Ill. , Feb. 23, 2017 ... Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited ... Cambridge Cognition Holdings PLC and Ctrl Group Limited, announced ... designed app on an Apple Watch wearable to monitor ... Disorder (MDD). Depression (MDD) is the leading ...
Breaking Medicine Technology: