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American Diversified Holdings Corporation Obtains Satisfactory Financing to Complete Merger of Cloud Computing Company Rebel Networks(April 07, 2011)
DEL MAR, Calif., April 7, 2011 (GLOBE NEWSWIRE) -- Further to the Company news release of February 28, 2011, where among other things American Diversified Holdings Corporation (Pink Sheets:ADHC) (www.americandiversifiedholdings.com) announced that it has signed a letter of intent to acquire Mississauga, Ontario based cloud computing company Rebel Networks, ADHC is pleased to report that it has secured satisfactory financing to complete this merger. This facility will not only provide the equity funding necessary for the acquisition of Rebel Networks, but will also allow for the purchase of a number of other companies in the Cloud Computing arena considered attractive by both parties.
Ernest B. Remo, Chairman/CEO, said today that "This agreement will allow ADHC to close the proposed acquisition of Rebel Networks well within the original timeframe agreed upon in the original Letter of Intent between the two Companies. We are hopeful of completing this transaction before the end of May, 2011."
Domenic Macchione, President and CEO of Rebel Networks, Inc., stated: "As businesses of all sizes review and upgrade their IT infrastructure and architecture they are realizing that a shift to the Cloud is beneficial in cutting costs, allowing rapid deployment, and have full scalability. Once customers move to the cloud they take full advantage of greater operational efficiency, better quality of service and rapid scalability. Today we see our shared and dedicated hosting customers moving into our cloud offerings either through Hosted Exchange, Virtualization, or on our pure grid cloud platform. "
Macchione also said, "Our relationship with ADHC will allow us to acquire traditional hosting companies who are faced with pressure from their existing customer base to provide new cloud services. The acquisitions will not only increase our immediate revenue, but also allow us to move customers to new cloud service offerings."
ABOUT REBEL NETWORKS
Rebel Networks is a leading provider of outsourced Internet infrastructure and related managed web solutions. Rebel Networks services include the provision of self- managed and fully managed dedicated servers, unmanaged collocation services, domain names services, Web Design, Application Development, & shared web hosting solutions. Rebel Networks deploys secure, scalable, high performance business solutions to customers ranging from small, emerging businesses to large, and enterprise corporations. For more information visit www.REBELNETWORKS.com
ABOUT CLOUD COMPUTING
Cloud computing describes computation, software, data access, and storage solutions that do not require end-user knowledge of the physical location and configuration of the system that delivers the services. Parallels to this concept can be drawn with the electricity grid where end-users consume power resources without any necessary understanding of the component devices in the grid required to provide the service. Cloud computing is a natural evolution of the widespread adoption of virtualization, service-oriented architecture, autonomic and utility computing. Details are abstracted from end-users, who no longer have need for expertise in, or control over, the technology infrastructure "in the cloud" that supports them. Cloud computing describes a new supplement, consumption, and delivery model for services based on Internet protocols, and it typically involves provisioning of dynamically scalable and often virtualized resources. It is a byproduct and consequence of the ease-of-access to remote computing sites provided by the Internet. This frequently takes the form of web-based tools or applications that users can access and use through a web browser as if it were a program installed locally on their own computer.
American Diversified Holdings Corporation (Pink Sheets:ADHC) is a publicly traded Company headquartered in Del Mar, California. ADHC is developing a unique software platform for the Mobile Health Care Market as the medical profession gears up to go electronic for Electronic Health Records (EHR) and also for direct patient monitoring and information. ADHC's EHR and mHealth.
Divisions will focus on Mobile Health Care Applications for iPhone(TM), iPad(TM), Android(TM) and other Smartphone and Tablet Mobile Devices. ADHC will be developing applications for the iPhone, iPad, Android and Other Mobile Devices tailored for specific ailments and protocols to allow medical professionals to monitor patients, get instant feedback and constantly adjust treatments to allow greater flexibility and response time in meeting individual patient needs. Electronic Health Records is the main focus of Federal Funding in the Hitech Act, and mHealth or mobile Health is a term used for the practice of medical and public health, supported by mobile devices. The term is most commonly used in reference to using mobile communication devices, such as mobile phones for Health Services and information. With the advent of Smartphones, Tablet devices and the pervasiveness of broadband and the internet, the future of Medical Care will be designing software to connect these devices in a uniform and secure manner.
This press release contains forward looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the company's plans to change and are in no way intended to guarantee that the company will be successful in executing its plans. American Diversified Holdings common stock currently trades on the over-the-counter "Pink Sheets" under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of ADHC, and no inference has been made that this release contains all such information.
CONTACT: Investor Relations Department Inquiry
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