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[ biotech news ] BioTech Medics Announces Update From Bagell, Josephs & Co., LLC, CPAs
BioTech Medics Announces Update From Bagell, Josephs & Co., LLC,
CPAs
DALLAS, Aug. 4 -- Keith Houser, CEO of BioTech
Medics, Inc., (OTC Pink Sheets: BTMD) announced today that BTMD's
CPA firm of
Bagell, Josephs & Co., LLC has advised BTMD that they have completed
the 2002,
2003 & 2004 compilation of Corbel Holdings, Inc., financials.
Corbel was the
predecessor company to BioTech Medics, Inc. Corbel's Final 2004 IRS
Form 1120
as of December 7, 2004, (the date of the closing on the reverse
merger of BTMD
and Halolaser Biotherapy, LLC) indicates that Corbel Holdings, Inc.,
closed
its books with a $2,239,492 business loss.
Corbel Holdings, Inc. (formerly stock symbol: CBLH) was a real
estate and
property management holding company. Corbel owned property in
Tampa, Florida.
The disposition of the property took place in 2004 prior to the
December 7,
2004 reverse/merger.
"BTMD is negotiating for a business and medical office building
property
in Dallas," said Keith Houser. "We are seeking a property that can
provide
BTMD room for growth corporately and more space for our Dallas Pain
Management
& Wellness Center Clinic." We have narrowed our focus to a specific
property
that will provide a legal means for BTMD to incorporate the Corbel
2004
$2.239 million loss carry-forward advantageously. BTMD has made
application
for a commercial loan on the property, expects to have the terms
finalized
soon and a closing before the beginning of this fall.
BioTech Medics is the distributor for the NeuroLase Therapeutic
Medical
Device for the temporary reduction of muscular, skeletal and
arthritic pain.
Safe Harbor for Forward-Looking Statements
This press contains forward-looking statements within the
meaning of The
Private Securities Litigation Reform Act of 1995 (the "Act"). In
particular,
when used in the preceding discussion, the words "plan," "confident
that,"
"believe," "scheduled," "expect," or "intend to," and similar
conditional
expressions are intended to identify forward-looking statements
within the
meaning of the Act and are subject to the safe harbor created by the
Act.
Such statements are subject to certain risks and uncertainties and
actual
results could differ materially from those expressed in any of the
forward-
looking statements. Such risks and uncertainties include, but are
not limited
to, the ability of the company to have adequate financing, market
conditions,
the general acceptance of the Company's products and technologies,
competitive
factors, timing, and other risks described in various Company
publications.
SOURCE BioTech Medics, Inc.
Web Site: www.biotechmedics.com
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