Company News: Page (1) of 1 - 12/14/11 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook

Metiscan Announces CTB Settlement

(December 14, 2011)

DALLAS, TX -- (Marketwire) -- 12/14/11 -- Metiscan, Inc. (PINKSHEETS: MTIZ) today announced its settlement with the China Trust Bank (CTB). Although, the details of the Settlement are to remain confidential, the impact of this settlement significantly reduces Metiscan's liabilities by $2,108,332.

"The CTB settlement is very positive for our Company and our shareholders," commented Curtis Gung, President & CEO of Metiscan, Inc. "The CTB settlement and our ability to reduce other liabilities over the past nine months has yielded Metiscan a total reduction of $7,501,572 in liabilities since year end 2010."

Balance Sheet Overview:


--------------------------------------------------------------- Balance Sheet Data (US$) 9 Months Ended 12 Months Ended Sept 30th, 2011 Dec 31st, 2010 Total Assets 19,947,497 20,898,797 Total Liabilities 5,887,051 13,388,623 ---------------------------------------------------------------

Metiscan, Inc. is a public holding company traded on the Pink Sheets under the symbol MTIZ. Its sole, majority owned subsidiary Aclor, Inc. is an international manufacturer and supplier of private label paper products. Aclor's customers include some of the most recognized and reputable office supply mass retailers worldwide and also include the largest consumer and office retailer in the United States. Aclor produces composition notebooks, spiral notebooks, wireless notebooks, and filler paper in its factory located in Nuevo Laredo, Tamaulipas, Mexico.

Safe Harbor Statement: Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Metiscan's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact Information
Dylan Yarter
214.872.6570
Email Contact
www.stockorange.com


Copyright @ Marketwire

Page: 1


Related Keywords: METISCAN, PCAOB, MTIZ, MTIZ: PINK, Penny, Stock, Audit, OTCBB, Healthcare, USA, China, Marketwire, Inc., , china, mexico, Other,

HOT THREADS on DMN Forums
Content-type: text/html  Rss  Add to Google Reader or
Homepage    Add to My AOL  Add to Excite MIX  Subscribe in
NewsGator Online 
Real-Time - what users are saying - Right Now!

Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved