RTIN Holdings, Inc. Announces
Resolution of Disputes with
MedEx Systems, Inc. and Pegasus Pharmacy, Inc.
Longview, TX -- March 11, 2002 RTIN Holdings (NASD OTC BB: RTNH), announced
today that it had resolved pending disputes arising from the acquisition of
MedEx System, Inc. and Pegasus Pharmacy, Inc. through negotiation with the
previous shareholders of MedEx and Pegasus. The parties entered into a
settlement agreement that provides for the rescission of the acquisition of
MedEx and Pegasus by RTIN, return of all of the RTIN common stock issued as a
result of the acquisition, and return of the outstanding stock of MedEx and
Pegasus to the original shareholders. In exchange for the approximately $940,000
invested by RTIN in MedEx and Pegasus since November 2001, RTIN received an
exclusive, perpetual, paid-up license to use the MedEx and Pegasus business
system, including ZipScript(TM), in 157 metropolitan areas in the United States
and throughout the rest of the world. RTIN will do business under the names Safe
Med Systems, Inc. (TM) and Safe Script Pharmacies, Inc. (TM)
In connection with the settlement of the disputes, Ms. Ann E. Rau resigned from
the position as a director of RTIN Holdings, Inc. and Curtis Swanson resigned
from all positions as a director of either MedEx Systems, Inc. or Pegasus
Pharmacy, Inc. RTIN, MedEx, Pegasus and their respective principals released the
others from any liability arising in connection with the acquisition.
Curtis A. Swanson, President & Chief Operating Officer of RTIN Holdings stated,
"This is an equitable outcome for RTIN, MedEx and Pegasus, given the scope and
nature of the controversies. We are extremely pleased with this resolution. Even
though we are limited in the number of cities that we can participate in, this
agreement enables us to proceed with the original business plan while
eliminating the overhead and debt associated with the MedEx Systems Inc. and
Pegasus Pharmacy Inc. acquisition. It also eliminates the dilution of shares
associated with this acquisition which should enable us to generate more
earnings on a per share basis for 2002. We can now enjoy a faster roll out of
pharmacy units and enhancements to the software."
Safe Med Systems, Inc.(TM)is a medical technology service provider, providing
state-of-the-art, hand-held prescription units loaded with patent-pending secure
wireless software technologies. Safe Script Pharmacies, Inc.(TM)is the preferred
retail pharmacy provider that specializes in filling prescriptions generated by
the Safe Med Systems(TM)technology. Because pain management specialists and
their patients have been under-served by the pharmacy industry and annual
expenditures for pain management is approaching $100 billion in the U.S. (and is
expected to grow), the companies are initially targeting physicians who
frequently treat chronic pain. For additional information on both Safe Med
Systems, Inc. and Safe Script Pharmacies, Inc. see our web site at
www.rtinholdings.com
RTIN Holdings, Inc., is a public holding company whose stock trades on the fully
reporting NASD OTC BB.
Contact: Thomas M. Aigner / Director of Investor Relations
tomaigner@rtinholdings.com or by telephone at 817-788-9716
- --------------------------------------------------------------------------------
Certain statements in this news release may constitute "forward-looking"
statements within the meaning of section 21E of the securities and Exchange Act
of 1934. The Company believes that its expectations, as expressed in these
statements are based on reasonable assumptions regarding the risks and
uncertainties inherent in achieving those expectations. These statements are
not, however, guarantees of future performance and actual results may differ
materially. The most important factors that may cause actual results to differ
from expectations are the speed with which the Company is able to install the
MedEx/Pegasus business system into the Safe Med and Safe Script business system,
the speed with which the Company is able to open pharmacy locations, the ability
of the Company to obtain acceptance of the ZipScript by doctors and patients,
the availability of the necessary capital for start-up costs and the risk of
competitive technology innovations. Other risk factors are listed in the most
recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed
with the Securities and Exchange Commission. Such forward-looking Statements
involve risks, uncertainties and other factors, which may cause the actual
results, performance, or achievement expressed or implied by such
forward-looking statements to differ.
- --------------------------------------------------------------------------------