Business
Medcore Holdings Inc. Announces Corporate Reorganization and Acquisition of Intellectual Property
Medcore Holdings Inc. Announces Corporate Reorganization and Acquisition of Intellectual Property.
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[{"type":"text","content":" Normal 0 false false false MicrosoftInternetExplorer4 Medcore Holdings Inc. (Pinksheets: MEDC) announced that as part of its corporate reorganization, it has approved a name change to Advanced Defense Technologies, Inc., approved a 1-for-500 reverse-split and appointed new officers and directors. The Company will announce its new trading symbol as soon as it is assigned by FINRA. Until such time, the Company’s common stock will trade under its current symbol (MEDC.PK). On December 22nd, 2009 the Company purchased the patents, technology, contracts, ongoing relationships, research projects, research and development funded by government contracts and exclusive rights to use its patents from RST Scientific Research Inc. In conjunction with this asset purchase the Company decided to change its name to Advanced Defense Technologies and focus on developing new breakthrough technologies for military defense systems, homeland security and large-scale communications systems.This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include all statements other than those made solely with respect to historical facts. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results or performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Forward-looking statements in this press release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot provide any assurances regarding future results. We undertake no obligation to revise or update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.","length":2722,"tagName":"div"}]