WEST PALM BEACH, Fla.,
March 19, 2012 /PRNewswire/
-- SurgLine International, Inc. (SGLN.PK) and SurgLine,
Inc. ("SurgLine") today announced that the management team and
certain consultants to SGLN and SurgLine have completed the return
of over 1,000,000,000 shares of common stock to the Company.
This announcement is the follow up to the previous press release
whereby the executives of SurgLine had agreed to an additional six
month lock up of the restricted shares they were issued of SGLN in
the September 1, 2011
acquisition.
Thomas Toland, CEO of SGLN and
SurgLine stated, "The return of the billion shares of common stock,
representing over 17% of all of our outstanding shares, by our
management team and others was done in order that we do not further
dilute our other shareholders while at the same time, allowing the
Company to pursue our working capital requirements to grow our
business and other opportunities as may become available. I believe
that by each of us returning 25% of our shares show the long term
confidence we have in becoming a successful participant in the
multibillion markets of surgical and medical implants for spine and
trauma procedures. The returned shares will be utilized
through private placements and other means to purchase inventory
that our distributors require for resale."
In addition Mr. Toland was quoted as saying, "As we continue to
meet with hospitals, surgery centers, insurance companies and
others, the response to our product line, quality and pricing,
continues to open eyes throughout the industry. The cost savings
our Company can bring to our customers, end users, and most
importantly their patients, while maintaining or improving the
quality of their health and healthcare is evident to all. We have
completed additional product fairs in numerous locations and being
able to get additional inventory in the marketplace is our next
step in our business model to grow revenues."
About SurgLine, Inc.
SurgLine (www.surgline.com) sources and distributes high quality
FDA approved medical and surgical products at discount prices,
thereby reducing or eliminating the historical brand premium paid
by healthcare providers including acute care hospitals, surgery
centers, surgical hospital, self insured employers and insurance
companies. SurgLine offers high quality medical and surgical
supplies and products at substantial savings utilizing stocking
distributors and institutional buyers by sourcing products globally
without the historical brand premium and industry markup.
About SurgLine International, Inc.
SurgLine International, Inc. is a holding company that in
addition to SurgLine, wholly owns Nuvo Solar Energy, Inc., a
development stage company that owns unique patent pending solar and
photovoltaic related technology. The Company is also seeking
other business opportunities.
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations as to
future events. However, the forward-looking events and
circumstances discussed in this press release might not occur, and
actual results could differ materially from those anticipated or
implied in the forward-looking statements.
For Further Information Contact:
Thomas Toland
949-698-8485
SOURCE SurgLine International, Inc.