CORAL SPRINGS, FL — (Marketwired) — 04/10/15 — Union Dental Holdings, Inc. (OTC PINK: UDHI) —http://www.uniondental.com/ir — a Company that operates and manages a network of dentists throughout the United States for union members, announced today it requested an extension for the Letter of Intent to acquire Drinkable Air, Inc. and Drinkable Air agreed to the extension.
Dr. Green, UDHI President and CEO, stated: “We have been working with Sunrise Capital on SBA loans for the capital needed to acquire Drinkable Air. We were notified by the underwriters that under the current structure presented the loan was not approved; however we are restructuring the filing with the assistance of Sunrise. We are also working with other private investors to meet our obligation under the Letter of Intent. Drinkable Air has been involved in these discussions and when the original Letter of Intent expired, they agreed to the extension.”
Steve Kairis, President/CEO of Drinkable Air, stated, “While it is disappointing that the original application was not accepted by the underwriters, we are working with Union Dental on a number of potential synergies that warranted an extension. In dealing with conventional loans and banking institutions we understand the process takes longer and involves multiple steps, so we were willing to extend to allow the appropriate time to finish the loan process as well as other potential options that Union Dental has presented.”
About Union Dental Holdings, Inc. Union Dental Holdings manages a 22 operatory full service dental practice in Coral Springs, Florida. It is the exclusive supplier of Drinkable Air’s patented ozone atmospheric water generators for the US dental industry and is a leading innovator for bringing bacteria free water into the dental operatory settings. Union Dental operates two wholly owned subsidiaries, Direct Dental Services and Union Dental Corp. Direct Dental Services provides dentists with “areas of exclusivity” to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these “areas of exclusivity” where CWA and IBEW members use the dentists’ services.
About Drinkable-Air, Inc.Drinkable Air, Inc. (a Florida corporation) (“DA” or “The Company”) offers to the U.S. and international markets atmospheric water generators (“AWG”) which will enable people to enjoy pure, 99.9% clean water. The water supply is obtained from the humidity in the air and condensed, processed and purified through a patented process. Drinkable Air’s Chameleon line of AWG’s is a cost-effective and environmentally friendly solution to the world’s ever-growing need for pure, clean drinking water. The Chameleon line consists of twelve models which are described in detail in the business plan. For the first 3 years, the Company will focus on selling six models, i.e. Chameleon 8, 60, AC-60, 600, AC-600 and 1200. The Company’s new home/office model is revolutionary in design and unlike other machines currently in the market. Superior air flow design combined with a larger surface area at the evaporator coil; produce more water than any other AWG of comparable size. The Company’s proprietary EnviroGuard System, the foundation for this new product, eliminates bacteria and purifies the water with an ozone process which oxygenates the water. This process keeps the water pure, fresh and great tasting at all times.
“Safe-Harbor” Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Source: Union Dental Holdings, Inc.