Centrex Retains American Financial Group, Includes $500K Bridge Loan
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.
The Investrend Research program is the largest in the world and includes a
number of safeguards to reduce or eliminate conflict. These systems, including
media coverage and endorsements, may be accessed at
www.investrendresearch.com
Investrend Research is a member of the FIRST Research Consortium and
participates in the organization's standards development panel for independent
research providers. The "Standards for Independent Research Providers"
may be viewed at www.firstresearchconsortium.com.
The Dow Jones (NYSE: DJ) Newswires has stated that independent research has been
growing in credibility over the past 18 months, specifically citing Investrend
Research, and the New York Times (NYSE: NYT) has reported a survey by Charles
Schwab & Co. (NYSE: SCH) reveals an astonishing 78 percent of active
stockholders now "value research from independent firms over analysis by
Wall Street firms with financial ties to the companies they are rating." A
survey at Investopedia reveals that 74.7% of investors say that "legitimate
fee-based research is objective and useful," and 70.9% say that a company that
enrolls for "legitimate fee-based research is making a positive statement
about its investment potential."
Enrollment fees for Institutional coverage were $23,400, and the fees were paid
by the company. There is an open invoice for $13,700 remaining on account. There
are never any fees associated with FinancialWire, which independently covers a
wide range of corporate news, including but not limited to those that are or
have been enrolled in Investrend's platforms.
Complete information about any company enrolled in an Investrend shareholder
empowerment platform, including those of its affiliates and independent analysts
and webcasters, including disclosures and disclaimers, is available at the
company's InvestorPower page at
www.investrend.com/company/list.asp?sPathParam=yes , and on each report
and press release, and investors are advised to read those disclosures carefully
before trading in the equities of any enrolled company.
For up-to-the-minute news, features and links click on
www.financialwire.net
FinancialWire is an independent, proprietary news service of Investrend
Information, a division of Investrend Communications, Inc. It is not a press
release service and receives no compensation for its news or opinions. Other
divisions of Investrend, however, provide shareholder empowerment platforms such
as forums, independent research and webcasting. For more information or to
receive the FirstAlert daily summary of news, commentary, research reports,
webcasts, events and conference calls, click on
www.investrend.com/contact.asp
The FinancialWire NewsFeed is now available in multiple formats to your site or
desktop, free. Click on: www.investrend.com/XmlFeeds?level=268
URL: www.financialwire.net
(C) 2004 financialwire.net, Inc. All rights reserved.