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Marathon Group Announces Deal With N.I.R. Group, LLC
BROOKLYN, N.Y., Sept. 23 /PRNewswire/ -- Marathon Group (formerly Pediatric Prosthetics) (Pink Sheets: PDPR) today announced that it signed a deal with the N.I.R. Group, LLC to fund the new direction of the company by providing up to ($100,000) dollars. The funding terms outline an immediate cash infusion and an additional ($1 million) dollar line of credit upon which the company can draw upon. The credit line is in the form of convertible debentures and will allow the company to invest in marketing and advertising campaigns as well as working capita and minor acquisitions. Marathon went public in December 2009 and focused primarily on growing the Company. After the recent reverse merger of the privately wholly owned subsidiary Marathon Health Care Corp. in December 2009, the focus of the re-energized company is now on growth. Details of the funding as well as the company's financial statements are in the process of being prepared for filing and disclosure under the Alternative Reporting Standards on Pink Sheets.
"We are firmly committed to disclosing the recent events that have transpired, as well as financial history of this company for the past two fiscal years. Our legal and accounting departments are working diligently to have these filings and disclosure made within the next two weeks. I sincerely hope that our commitment to communicate with our shareholders and the public about our new business model demonstrates to investors that we are very serious about building a company that provides value, continuity, and return on investment in this very expanding industry," stated MacDonald Tudeme, Marathon's new CEO, who further added, "The prospects for future development are encouraging and once the initial company disclosure and financial information is filed we will continue to update our shareholders and the public on a regular basis through filings and Press Releases to communicate news and major developments."
For further information regarding this company, please visit http://www.marathonhcc.com.
Safe harbor language
This document contains forward-looking statements including, without limitation, statements regarding the company's expectations, beliefs, intentions or future strategies. All forward looking statements included in herein are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward looking statements. Actual results could differ materially from those projected in the forward looking statements. The Company cautions investors that its business and financial performance are subject to substantial risks and uncertainties. This document and the information contained herein are confidential. Accordingly, this document and its contents are to be held in complete and strict confidence and may not be disclosed, published, reproduced, copied, or distributed in whole or in part in any manner whatsoever without the express written consent of the Company.
SOURCE Marathon Group
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