The Quantum Group, Inc. Announces the Closing of $3 Million Convertible Debt Financing
19 Março 2007 - 10:41AM
PR Newswire (US)
WELLINGTON, Fla., March 19 /PRNewswire-FirstCall/ -- The Quantum
Group, Inc. (OTC:QTUM) (BULLETIN BOARD: QTUM)
(http://www.qtum.com/) announced today that it has closed on $3
million of convertible debt financing. The terms of the financing
will be disclosed in a Current Report on Form 8-K shortly to be
filed with the Securities and Exchange Commission. The offer and
sale of the Company's securities was made pursuant to exemptions
from the registration requirements of the Securities Act of 1933,
as amended. All of the offers and sales of the Company's securities
were made exclusively to accredited investors in offers and sales
not involving a public offering insofar as the purchasers in the
private placement were accredited investors purchasing the
securities for their own account and not with a view towards or for
resale in connection with their distribution. The private placement
was conducted without general solicitation or advertising. This
filing shall not constitute an offer to sell or the solicitation of
an offer to buy the securities, nor shall there be any offer or
sale of the securities in any state in which such offer,
solicitation or sale would be unlawful. The Quantum Group, based in
Wellington, Florida, is one of Florida's largest community based
healthcare provider systems. In conjunction with its subsidiary
companies, Renaissance Health System of Florida, Inc. (RHS)
(http://www.rhsfl.com/) and QMed BILLING, Inc.
(http://www.qmedbilling.com/), Quantum provides administrative and
support services to the Florida managed care industry as well as to
the physicians of Florida. Through our growing number of nearly
1,300 contracted physicians and multiple managed care relationships
in the state of Florida, we are strategically positioned to bring
increased efficiencies to the over $100 billion Florida healthcare
industry. According to an article published in the August 22, 2006
edition of the New York Times (By Gina Kolata), "By 2030, predicts
Robert W. Fogel, a Nobel laureate at the University of Chicago
Graduate School of Business, about 25 percent of the G.D.P. will be
spent on health care, making it "the driving force in the economy,"
just as railroads drove the economy at the start of the 20th
century." Certain statements contained in this news release, which
are not based on historical facts, are forward-looking statements
as the term is defined in the Private Securities Litigation Reform
Act of 1995, and are subject to substantial uncertainties and risks
in part detailed in the respective Company's Securities and
Exchange Commission 10-KSB, 10-QSB, S-8 and 8-K filings, that may
cause actual results to materially differ from projections.
Although the company believes that its expectations are reasonable
assumptions within the bounds of its knowledge of its businesses,
expectations, representations and operations, there can be no
assurance that actual results will not differ materially from their
expectations. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-looking statements include the company's ability to execute
properly its new business model, to raise substantial and immediate
additional capital to implement its continuing business model, the
ability to attract and retain personnel -- including highly
qualified executives, management and operational personnel, ability
to negotiate favorable current debt and future capital raises,
ability to manage the care of its patients with reasonable medical
loss ration, ability to negotiate beneficial managed care
agreements with a diversified and expanding provider base, continue
to supply the services needed by the HMO clients as well as the
growing list of physician clients and the inherent risk associated
with a diversified business to achieve positive cash flow. In light
of these risks and uncertainties, there can be no assurance that
the forward-looking information contained in this press release
will, in fact, occur. Media Contact: Danielle Amodio Vice
President, Corporate Communications The Quantum Group, Inc.
561.798.9800 DATASOURCE: The Quantum Group, Inc. CONTACT: Danielle
Amodio, Vice President, Corporate Communications of The Quantum
Group, Inc., +1-561-798-9800 Web site:
http://www.thequantumgroupinc.com/ http://www.qtum.com/
Copyright