ERBB Shareholder Update Tranzbyte Corporation issues this update to keep its shareholders informed regarding the DTC trade restriction ("chill") placed on its common shares and the Company's ongoing efforts to have it removed, and other news.
PHOENIX, Nov. 27, 2012 /PRNewswire/ -- Tranzbyte Corporation (ERBB: OTC:PK) is continuing its efforts to remove the DTC deposit restriction ("chill") placed on the company's common stock. Once the chill is removed, Tranzbyte Corp. will be filing the paperwork to apply to a higher exchange and become fully reporting which will enable it to better communicate its current status with its shareholders, new investors, and potential acquisition targets. Although the Company has achieved "current" status on The Pink Sheets (www.otcmarkets.com), the future expansion of its reporting capabilities will afford the company a higher level of transparency when it becomes fully reporting in accordance with SEC rules for publicly traded bulletin board companies.
Regarding its current appeal to the DTC to lift the chill, Tranzbyte has responded to all areas of the DTC inquiry. Following the submission of our response, the DTC has asked the Company to hire an additional outside law firm to review its response. To fully comply, Tranzbyte counsel is in the process of hiring additional outside counsel and completing that DTC request.
Tranzbyte subsidiary, Altitude Organic Corp., is also making solid progress as it continues to build its Arizona Caregiver Network. The company has narrowed down its choice to manage the network and expects to make announcements shortly regarding the first three caregivers with whom it expects to co-venture and name the executive it has chosen to manage the program. The Company intends to support each caregiver with whatever resources are required to establish a top quality-high yield grow for each.
In other news, Tranzbyte's MRI division is the exclusive North and South America distributor for the Cirrus 0.2T MRI machine, (http://finance.yahoo.com/news/tranzbyte-corporation-acquires-exclusive-market-111500021.html) Principle advantages of the Cirrus Open 0.2T MRI are its lower purchase price and lower operating costs. Because it does not require cooling with liquid helium, it is also much safer and more appropriate for use in remote areas. Helium is in dangerously short supply worldwide (http://www.popularmechanics.com/science/health/med-tech/why-is-there-a-helium-shortage-10031229) This shortage could mean that MRI machines throughout the world – most of which need helium to operate - would stop functioning should helium become unavailable. Since the Cirrus/Hurricane MRIs do not require helium to operate, this situation could well represent an opportunity of enormous proportions to the company. The Company is in the process of finalizing its agreement with Hurricane MRI (www.hurricanemri.com) and, once completed, will convey this news to its shareholders.
The Tranzbyte Corporation (www.tranzbyte.com) is a driving force behind Altitude Organic Corporation and ProximaRF. The company continues its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming." Companies that qualify that decide to become public on their own will agree to carve out shares for Tranzbyte and their ERBB shareholders once the spin-out is registered and publicly trading. This year, Tranzbyte acquired ProximaRF – a leading-edge company that produces a line of products supporting leading-edge RFID technology.
Tranzbyte also houses the company's 9-year-old technology division which is actively engaged in the marketing and sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum™ and FlixStix -- technologies that enable distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
ABOUT ALTITUDE ORGANIC CORPORATION
Altitude Organic Corporation (www.altitudeorganix.com) provides business support services to independently-owned retail dispensaries and legally licensed caregivers in states that have approved the use of medical cannabis. AOC continues to drive innovation in the industry through its sales and marketing support services, product research and development, point-of-sale and inventory management technologies, Zazzz™ unique retail product lines, and an expanding family of brands designed to meet the ever-growing demand of the burgeoning medical cannabis industry. Visit http://www.altitudeorganix.com today.
ABOUT PROXIMARF AND APPLIED RFID
Founded in 2006, Applied RFID and its operating subsidiaries (www.proximarf.com), have a versatile and leading-edge portfolio of RFID reader, sensor tag and data logging products based on the ISO 15693 standard of high frequency (13.56Mhz) RFID.
The company has plans to increase its network of global distributors and value-added resellers. With its "Proxima RF" line of RFID readers, sensor tags, sensor probes and data logging products, the Company seeks out opportunities with partners who have a unique software offering within market verticals where the implementation of secure data collection and temperature sensing bring real and immediate ROI to users. These key markets include: food safety, cold chain logistics and healthcare/pharmaceutical as well as factory and field maintenance applications.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Companies and Contacts:
Mr. John T. Martin, Managing Director - Asian Division
Tranzbyte Corporation – Hong Kong
Rm 308, 3/F, Kai Tak Commercial Building
317-319 Des Voeux Road Central, Hong Kong (SAR)
Mr. Brian Cook, Managing Director
Altitude Organic Corporation
14220 N. Northsight Blvd., Suite 139-A
Scottsdale, AZ 85260
Victor J. Elias, President
ProximaRF US Corporate Office:
14220 N. Northsight Blvd., Suite 139-B
Scottsdale, AZ 85260
SOURCE Tranzbyte Corporation