EAST ORANGE, N.J., June 3, 2004 (PRIMEZONE) -- Transportation Logistics Int'l, Inc.(OTCBB:TRPL) announced today that it had purchased Advanced Medical Diagnostics, LLC (AMD) in an all stock transaction. AMD, headquartered in East Orange, New Jersey, is the designer, manufacturer and distributor of a low cost, rapid, self-testing HIV (1+2) Diagnostic Kit.
With the dramatic rise in the incidence of HIV, the precursor of AIDS, especially in the third world countries of Africa, India and Asia, this kit is a godsend. Manually performed, visually read in 15 minutes, with over 99% accuracy, at an under $5.00 retail cost, it easily promotes the company's motto, "Recognition is the First Step."
Mike Margolies, Logistics Chairman and CEO, had this to say about the acquisition: "It isn't often, while striving for profits in today's ultra competitive business environment, to find a product that is not only needed internationally, can be profitably produced and marketed, and helps address and combat the world's biggest unsolved medical dilemma.
"It is our intention to introduce this product to the Health Departments of every government in the most affected countries. We presently have two sales representatives in West Africa, one in each South America and Korea. We are investigating the procedures and costs involved in FDA approval for eventual sales in the United States.
"Key Advance Medical Diagnostics management personnel are all remaining on the team. They include AMD's President, Michael Gilbert and its two Vice Presidents for marketing and manufacturing, Mike Allora and Nick Olivieri. Watch this space for the exciting results of the merger of their technical expertise with TRPL's organizational and financial strengths."
For further information contact Mike Margolies at 845-424-4100.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.