Prime Companies Announces Launch of Consumer Dental Service Software
November 11 2008 - 10:01AM
PR Newswire (US)
- Agrees to Major Debt Settlement - ANTHEM, Ariz., Nov. 11
/PRNewswire-FirstCall/ -- Prime Companies, Inc. (Pink Sheets: PCIR)
today announced its new consumer dental service software is now
scheduled for launch by the end of 2008. P. Chris Theotocatos, CEO,
said the "new software will allow consumers to search for the
dentist of their choice, who meets their needs anywhere in the
United States." "We anticipate revenues to begin to be generated by
our new service soon after launching the service," said Stephen
Goodman, CFO. "We are initially offering the service in the Phoenix
area, with a staged nationwide rollout to follow as soon as the
Arizona program is complete." Mr. Goodman also announced that the
District Court of Dallas County, Texas, has approved the settlement
of $3.4 million in debt for 85 million shares to be issued to the
creditors, including Fuselier Holding, LLC, Richardson, Texas, the
Company's largest creditor. "Prime Companies debt is now reduced to
less than $400,000, enabling us to move forward with a much
stronger balance sheet (unaudited)," Mr. Goodman said. Prime
Companies recently announced a new management team and relocation
near Phoenix. Additional information is available at the Company's
web site at http://www.primecompanies.com/. The Company also said
it is preparing for an audit of its financials for the years 2007
and 2008, and anticipates this being concluded by the end of
January 2009. Forward-Looking Statements Statements in this press
release may constitute forward-looking statements and are subject
to numerous risks and uncertainties, including the failure to
complete successfully the development of new or enhanced products,
the Company's future capital needs, the lack of market demand for
any new or enhanced products the Company may develop, any actions
by the Company's partners that may be adverse to the Company, the
success of competitive products, other economic factors affecting
the Company and its markets, seasonal changes, and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release. CONTACT: Prime Companies, Inc. Paul Knopick E & E
Communications (949) 707-5365 DATASOURCE: Prime Companies, Inc.
CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365,
, for Prime Companies, Inc. Web site:
http://www.primecompanies.com/
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