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Company
Contact:
Jordan
Serlin
561-997-2602 |
CENUCO
and LANDER Complete Merger
BOCA
RATON, FL and LAWRENCEVILLE, NJ, May 23rd,
2005 -
Cenuco,
Inc. (AMEX: ICU) and Lander Co., Inc today announced the two companies have
completed their merger and will
begin reporting combined financial information.
The
combined companies have begun implementing a platform strategy, which includes
the potential acquisition of strategic businesses or individual brands. Lander
has also developed and recently launched new product offerings into existing
retail relationships, which are intended to expedite its growth
strategy.
Cenuco
Wireless recently won an award from Orange, the world’s 3rd largest
cellular carrier regarding its mobile video software. This award articulates
Cenuco’s technology and its ability to broadcast live video from cell phone to
cell phone. This application will facilitate Cenuco’s entry into the fast
growing content sector.
About
the Company
Cenuco,
Inc. develops wireless and Internet based software solutions for transmitting
live streaming video, and other targeted content, directly onto cellular phones
and remote computers. The Company's technology has applications in a variety of
markets. The company’s wireless data technology is primarily focused on wireless
video monitoring solutions that allow users to view real-time streaming video of
security cameras or video content feeds at their home or place of business from
anywhere they receive a cellular connection, regardless of the cellular carrier,
user's location, or type of cellular phone or wireless device. The Company's
products address the fast-growing security, surveillance and Homeland Security
markets, and some of its monitoring products have been listed on the Federal
General Services Administration (GSA) schedule. These products have also been
Windows Mobile Certified by Microsoft, have received BREW certification from
Qualcomm, and are listed in the Intel Mobility Catalog. Visit www.cenuco.com for
additional information.
Lander
Co., Inc. is a manufacturer, marketer and distributor of the leading value brand
(LANDER) health and beauty care products. The Company also produces private
label brands for a limited number of top retailers through its Canadian
facility. With fiscal year 2005 revenues of approximately $72 million, (fiscal
year end February 28, 2005) Lander boasts a category leadership position in the
rapidly growing marketplace for value health and beauty care (HBC) products -
sold in dollar store and value focused retailers such as Wal-Mart and Kmart.
www.lander-hba.com
The
Lander brand is recognized as the largest specialty bath brand as reported in
2004 by Information Resources, Inc. (IRI), a global provider of market content
and business performance management within consumer goods and retail industries.
The Company is headquartered in Lawrenceville, New Jersey (5 minutes west of
Princeton, New Jersey and mid way between New York and Philadelphia). The
company owns and operates two manufacturing and distribution facilities, one in
Binghamton, New York and the other in Toronto, Canada.
About
the Merger
In the
merger, the Company issued shares of a new series of Preferred Stock to the
former members of Lander representing 65% of the outstanding shares of capital
stock of the Company. The shares of Preferred Stock will be converted into
shares of Common Stock representing 65% of the then outstanding shares upon
approval of the holders of Common Stock. The Company will file a proxy statement
with the Securities and Exchange Commission in connection with the meeting of
stockholders to consider and vote upon approval of the conversion of the
Preferred Stock as well as certain amendments to the Company’s certificate of
incorporation and other matters. Investors
and security holders are advised to read the proxy statement when it becomes
available, because it will contain important information about the Company and
Lander, including financial statements of Lander.
Investors and security holders may obtain a free copy of the proxy statement
(when available) and other documents filed by the Company at the Securities and
Exchange Commission's web site at http://www.sec.gov. The proxy statement and
such other documents may also be obtained by stockholders of the Company for
free from the Company by directing such request to the Company.
The
Company and its directors, executive officers and other members of its
management and employees may be deemed to be participants in the solicitation of
proxies from its stockholders in connection with the proposed stockholder vote
relating to the conversion of the Preferred Stock and charter amendments.
Information concerning the interests of Company's participants in the
solicitation is set forth in the Company's proxy statements and Annual Reports
on Form 10-KSB, previously filed with the Securities and Exchange Commission,
and in the proxy statement relating to the stockholder meeting when it becomes
available.
Certain
statements contained herein may constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, 21E of the Exchange Act of
1934 and/or the Private Securities Litigation Reform Act of 1995. Such
statements include, without limitation, statements regarding business plans,
future regulatory environment and approval and, the Company's ability to comply
with the rules and policies of independent regulatory agencies. Although the
Company believes the statements contained herein to be accurate as of the date
they were made, it can give no assurance that such expectations will prove to be
correct. The Company undertakes no obligation to update these forward-looking
statements.