Caduceus Software Systems ("The Company") Announces a Joint Venture and Also an Agreement
Johnston, RI, November 27, 2017 (Newswire.com) - The Joint Venture is between Caduceus Software Systems (OTC:CSOC) ("The Company") and Yvoty Informatics -- a hardware manufacturer of electronic micro-components. It has a broad license agreement to sell and distribute and repackage and market and create partners for a very useful product called the Fleet Meter (patent pending).
The Fleet Meter is an electronic device that detects the proper service interval for heavy machinery such as skid loaders, forklifts, high up lifts, turbines, combines, mowers, ATVs, airport luggage loaders, refrigeration screw compressors, compressors, boat motors, actuators.
The Fleet Meter (name not copyrighted, rather it is a name we gave it as an internal reference) gives precise metering based on runtime and not on calendar time. This ensures proper maintenance and by using timed metering it will save companies money because it prevents over servicing and under-servicing of equipment.
The device has RF frequency emitters to blink 30000 lumens of light on the machine to identify any machines that need servicing. The manufacturing of the device is in USA and Canada and uses the best available parts for extreme durability.
We aim to work with the inventor to share in patent rights and go through the patent process.
Another significant event in the company is a NON-binding letter of intent with a large winery in the United States. Location, winery name, and marketing is not allowed to be disclosed at this time. The LOI states that CSOC shall assume the winery products ( the wine ) as a subsidiary of CSOC. It is not a reverse merger for the sake of simplicity of the accounting. A percentage of profit generated by the winery is to go to fund CSOC operations. The profitability of the winery is dependent on the sale of the wine and ultimately on the marketing, seasonal growth of grapes, and the successful distribution of the products. Again, this is a LOI and is non binding.
The winery has a patch of land dedicated to a greenhouse project that will grow plants that are not wine related.
The two events, the fleet metering device and this winery are separate and not affiliated with each other but the Company intends to use the fleet metering device on machinery associated to the winery day to day operations.
The due diligence of the winery subsidiary possibility is underway and is lengthy. Richard and Anna Tang have visited the site and have been performing a cost benefit analysis. The winery is amenable and amicable with the LOI thus far. We have had 3 revisions of the LOI in the past 3 months and think we have settled on the third round.
The profit or deliverable dividends of the winery is not in effect. This is only a notification that an LOI has been signed and countersigned.
The cost of the due diligence is born by Richard and Anna Tang and Erwin Vahlsing and will not add to the expenses of the Company accounting.
The Company since 2014 when Richard and Anna Tang have taken directorship it, has only booked additional paid in capital and compensation in the form of future share issuance. The approximate 5Million dollars of additional paid in capital that is booked has been acquired by Richard and Anna Tang by them purchasing that debt from Sygnit Corp, and the purpose of that is to prevent hostile conversions.
There is no debt owed to toxic lenders by the Company.
We wish to thank the general audience and investors who read this information.
Updates and details of the fleet metering device and the LOI with the winery will be in the form of tweets and possibly on our website. Marketing of the fleet metering device is underway. We will leverage our stance of being a OTC company to amplify our marketing "voice" and target other public companies that may use heavy machinery that need hour based servicing.
Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "wishes", "aspires", "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. All forward-looking statements attributable to Caduceus Software Systems Corp., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Caduceus Software Systems Corp., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.'
Source: Caduceus Software Corp