ERBB Shareholder Update PHOENIX, Nov. 27, 20
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ERBB Shareholder Update
PHOENIX , Nov. 27, 2012 /PRNewswire/ -- Tranzbyte Corporation (ERBB: OTC K) is continuing its efforts to remove the DTC deposit restriction ("chill") placed on the company's common stock. Once the chill is removed, Tranzbyte Corp. will be filing the paperwork to apply to a higher exchange and become fully reporting which will enable it to better communicate its current status with its shareholders, new investors, and potential acquisition targets. Although the Company has achieved "current" status on The Pink Sheets ( www.otcmarkets.com ), the future expansion of its reporting capabilities will afford the company a higher level of transparency when it becomes fully reporting in accordance with SEC rules for publicly traded bulletin board companies.
Regarding its current appeal to the DTC to lift the chill, Tranzbyte has responded to all areas of the DTC inquiry. Following the submission of our response, the DTC has asked the Company to hire an additional outside law firm to review its response. To fully comply, Tranzbyte counsel is in the process of hiring additional outside counsel and completing that DTC request.
Tranzbyte subsidiary, Altitude Organic Corp., is also making solid progress as it continues to build its Arizona Caregiver Network. The company has narrowed down its choice to manage the network and expects to make announcements shortly regarding the first three caregivers with whom it expects to co-venture and name the executive it has chosen to manage the program. The Company intends to support each caregiver with whatever resources are required to establish a top quality-high yield grow for each.
In other news, Tranzbyte's MRI division is the exclusive North and South America distributor for the Cirrus 0.2T MRI machine, ( http://finance.yahoo.com/news/tranzbyte-
corporation-acquires-exclusive-market-111500021.html ) Principle advantages of the Cirrus Open 0.2T MRI are its lower purchase price and lower operating costs. Because it
does not require cooling with liquid helium, it is also much safer and more appropriate for use in remote areas. Helium is in dangerously short supply worldwide
( http://www.popularmechanics.com/science/healt...e-10031229 ) This shortage could mean that MRI machines throughout the world -
most of which need helium to operate - would stop functioning should helium become unavailable . Since the Cirrus/Hurricane MRIs do not require helium to operate, this
situation could well represent an opportunity of enormous proportions to the company. The Company is in the process of finalizing its agreement with Hurricane MRI ( www.hurricanemri.com ) and, once completed, will convey this news to its shareholders.