INR and BFTI
have commenced respective due diligence review efforts and are addressing other major conditions requisite to closing the agreement.
The proposed merger, which is subject to approval by the boards of directors and shareholders of the constituent corporations, and other conditions, involves BFTI's issuing its securities for INR so that after the merger, INR shareholders will hold about 60 percent, and BFTI shareholders will hold about 40 percent of the merged corporation, prior to financing.
Management of BFTI and INR believe that the proposed merger will greatly enhance the ability of the two companies to achieve their common business goals of expanding their human resource team and their product and geographic base and improving their ability to attract necessary additional financing for their operations.
As part of the agreement with SANNES, BFTI
has given them the charge to expand BFTI
's technology markets to include a wide range of viral and infectious diseases.
The BFTI worldwide website was unveiled and is now available day or night to anyone around the world at its internet address, www.
In addition, BFTI announced that the accounting firm of Arthur Andersen & Co.
Because of the successful completion of the first trial, BFTI will begin to build image databases for HIV-infected cells and begin training the Mehica AI software to recognize HIV infected cells.
In conclusion, the trials succeeded in providing BFTI with fulfillment of its first set of objectives to:
The test supplied by BFTI is in the "well" slide format.
This is the first step in a series of steps designed to prepare BFTI for evaluations by the FDA.
already has one FDA IFA test ready to use on the Mehica GP120 and is in the process of getting FDA approval on a second test developed by Virion.