2012-12-11 18:52:16 -
BOCA RATON, FLORIDA -- (Marketwire) -- 12/11/12 -- Novation Holdings (OTCBB:ALZM) today announced that it has acquired Casita de los Ninos, LLC, a California limited liability company doing business as Immersion House(TM) effective as of November 29, 2012. Immersion House ( www.immersionhouse.com : www.immersionhouse.com/
) is devoted to helping children and their families learn new languages and gain cultural experiences in those targeted languages. Casita de los Ninos is the flagship company for Immersion House. Casita was launched in 2009 in Northern California (Bay Area) and focuses on teaching children Spanish through learning centers and various after school enrichment programs.
According to Paul Bliss, founder and President of Immersion House, "Immersion House learning centers, products, publications, media, partnerships, resources, and instructors are all committed to one goal: to provide the best "immersive" experience so that students and their families can learn to: Think Global, Act Global, and Be Global. Immersion House differs from other learning language programs in the way that it "immerses" students in the target language they are learning. When students enter our learning centers they are transported into the "world" of that language. They experience the sights, sounds, and tastes of the target language they are learning. When students eat, bake, converse, play, and interact with native speakers (instructors and children), they not only learn the language, they experience its people, culture, and traditions."
Michael Gelmon, Chairman and CEO of Novation, stated, "We are excited about the potential of this acquisition and look forward to working with the Immersion House team to build this program. Immersion House has now perfected its systems and programs and is ready to expand nationally, and to expand its language offerings. With the added infrastructure provided by Novation, we are confident that the existing operating success can grow and add to the bottom line for Novation."
Stock Trading Symbol. As a result of the recent (November 6, 2012) effective date of the name change, reverse split and change of corporate domicile, the trading symbol for the common stock changed as of November 6, 2012 to "ALZMD" to signify the completion of the reverse split and the issuance of a new CUSPIP number for the common stock. On December 6, 2012, the "ALZMD" trading symbol was changed back to "ALZM", the same as before the effective date. This is in accordance with the policy of FINRA, which issues and maintains trading symbols for all public companies, that a trading symbol for a company engaged in a reverse split or other corporation transaction is first changed by adding a "D" as a fifth letter for a period of 20 business days, after which the symbol reverts to the old, pre-transaction symbol for the next 10 business days, when a new permanent symbol is issued. Accordingly, a new trading symbol representative of the new Novation Holdings name, will be issued by FINRA on December 19, 2012, effective the next day.
New Certificates. Effective October 25, 2012, and cleared by FINRA on November 6, 2012, we changed our name, domicile and also completed a 1 for 15 reverse split of our common stock. As noted in the Proxy Statement sent to all shareholders, the old Allezoe Medical certificates may be turned in by any shareholder in exchange for a new Novation Holdings certificate representing 1/15th of the common shares in the original certificate. Until a shareholder actually sends a certificate to the transfer agent for that exchange, the old certificate will remain valid but will automatically be treated as a Novation certificate for the post-reverse number of shares. Any shares held in "street name" with a broker or in a brokerage account normally would be exchanged directly between the transfer agent for the Company and Cede & Co., the street name nominee for the Depository Trust Company. It has recently come to the attention of the Company that this exchange was delayed for unknown reasons, but that the transfer agent and DTC have resolved whatever issues may have existed. Accordingly, we are advised that the Novation Holdings shares held in street name should be transferrable without any problems as of early last week.
FORWARD LOOKING STATEMENT
Certain statements contained herein and subsequent oral statements made by and on behalf of Novation Holdings, Inc. may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding Novation Holdings, Inc.'s plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Any statements made in this news release about an action, event or development, are forward-looking statements. 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. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company undertakes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at www.sec.gov
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Novation Holdings, Inc.
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