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China Nuvo Solar Target Acquisition SurgLine Signs Agreement for Sales to U.S. Department of Veterans Affairs (VA) Gonneville, Inc. agrees to add SurgLine's medical and surgical products for direct access to multi-billion dollar VA market Press Release Source: China Nuvo Solar Energy, Inc. On Wednesday August 3, 2011, 9:00 am EDT WEST PALM BEACH, Fla., Aug. 3, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine, Inc. has reached an agreement with Gonneville, Inc. (Gonneville), whereby Gonneville will add the Company's medical and surgical product lines to their products for sale to the U.S. Department of Veterans Affairs ("VA"). In 2009 the Veterans Health Administration ("VHA") had over 485,000 acute inpatient/medical surgical procedures and over 400,000 outpatient endoscopy procedures. With expected increases to the already 27 million veterans who have unselfishly served their country; surgical procedures are increasing, necessitating increases in the demand for quality medical supplies. The challenge is balancing the needed increase in procedures and supplies while remaining focused on the priority of reduced spending. Healthcare industry analysts stress that current healthcare spending is not sustainable. SurgLine's intention is to address this issue by providing the highest quality surgical instrumentation at the lowest possible cost, with savings upward of 30%, which will revolutionize the historical costs of medical and surgical products. "Richard Dutch, the President and Chief Operating Officer of SurgLine, Inc. and I have worked very successful, over the past 7 years, to penetrate the Veterans Integrated Service Networks ("VISN") markets and bring value and substantial cost savings to their facilities. Our relationship is based on trust, integrity and longevity. I look forward to continued success, working with Richard and SurgLine, as the VA Hospital System is in dire need for their services," stated Don Gonneville, President of Gonneville. Mr. Tom Toland, CEO of SurgLine was quoted as saying, "SurgLine is excited to announce this agreement that will allow us to partner with Government facilities to address this dire situation and provide significant savings to VA facilities across the Country. We are extremely pleased to have a relationship with Don and his entire organization. Based on Richard's and Don's proven track record in successfully working with the VHA, we look forward to a win win scenario for our Company, the VA and all of the veterans they serve." "This is another step in the management team of SurgLine executing their business model. SurgLine has put together an experienced group of executives who have individually had success in their careers and we look forward to all they can accomplish as one team. We believe the Company motto of 'more value for your healthcare dollar' is evidenced by their ability to source and distribute medical and surgical products without the historical brand premium markup. This can not only be an industry changer but as importantly assist and lower the cost of taking care of our veterans," stated Henry Fong, CEO of China Nuvo Solar Energy, Inc. About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. About Gonneville, Inc. Gonneville, Inc. is a certified Service-Disabled Veteran-Owned Business Enterprise (SDVOB) and a Small Business Enterprise, providing customers with a broad range of quality products at competitive prices, while maintaining a level of service that meets or exceeds the expectations of even the most demanding customers. Over the past twenty-nine years, the company has added product lines to keep up with the demands of customers. About Veterans Health Administration (VHA) The VHA is the nation's largest integrated health care system. With a medical care appropriation of more than $47 billion, VHA employs more than 239,000 staff at over 1,400 sites, including hospitals, clinics, and nursing homes. In addition, VHA is the Nation's largest provider of graduate medical education and a major contributor to medical research. VHA's mission is to Honor America's Veterans by providing exceptional health care that improves their health and well-being. VHA will continue to be the benchmark of excellence and value in health care and benefits by providing exemplary services that are both patient centered and evidence based. This care will be delivered by engaged, collaborative teams in an integrated environment that supports learning, discovery and continuous improvement. It will emphasize prevention and population health and contribute to the nation's well-being through education, research and service in National emergencies. The U.S. is divided into 21 Veterans Integrated Service Networks, or VISNs — shared systems of care working together to better meet local health care needs and provides greater access to care. Learn more at www.va.gov
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China Nuvo Solar Target Acquisition SurgLine Delivers First Orders to OptiMedical Corp. Stocking Distributor OptiMedical's initial shipment delivered, anticipates additional customers orders for fall delivery for multibillion dollar medical and surgical product industry Press Release Source: China Nuvo Solar Energy, Inc. On Monday August 8, 2011, 9:15 am EDT WEST PALM BEACH, Fla., Aug. 8, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine, Inc. has delivered their first orders to one of their stocking distributers, OptiMedical Corp. ("OptiMedical") of Simi Valley, California. OptiMedical is a distributor of orthopedic, spine and ENT products selling into hospitals and surgery centers. Mr. Michael Todd, CEO of OptiMedical stated, "Our customer was very pleased with the whole process from order to delivery. The quality was as promised and approximately 30% less than what they were paying for similar products from other suppliers. OptiMedical is currently at a seven figure annual run rate with this customer and we look forward to finalizing orders with additional end users in the near future for Fall 2011 delivery." Mr. Tom Toland, CEO of SurgLine was quoted as saying, "As we previously stated, having a relationship with OptiMedical is a tremendous, in the door opportunity, to showcase our products. We believe they will have continued success by transitioning more of their customers and taking advantage of our value-based pricing that does not compromise quality to the end user." "SurgLine's delivery of these first orders is an important milestone for the Company. We are very appreciative that OptiMedical and their customers for having the confidence in the SurgLine management team to execute this order from start to finish. We look forward to more customers as they begin to learn about the significant financial impact that SurgLine can have on their businesses through our core value proposition of 'More Value for Your Healthcare Dollar™,'" stated Henry Fong, CEO of China Nuvo Solar Energy, Inc. About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospitals, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. About OptiMedical Corp. OptiMedical (www.optimedicalcorp.com) is an orthopedic surgical implant supplier for local and regional medical and surgical providers, dealers, brokers and distributors. Their product line includes FDA approved orthopedic surgical implants and devices for orthopedic, spine, and ENT procedures, constituting a broad range of surgical implants, instruments, power surgical tools, and operating room equipment. OptiMedical and their distributors provide precision German engineered products that meet the highest quality standards in the medical industry as well as the required local service to hospitals and surgical centers.
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China Nuvo Solar Target Acquisition SurgLine Announces Agreement With Western U.S. Distributor Press Release Source: China Nuvo Solar Energy, Inc. On Thursday August 11, 2011, 9:15 am EDT WEST PALM BEACH, Fla., Aug. 11, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine, Inc. has signed an agreement with Tandem Receivable Solutions to a western distributorship. Tandem, working as an Independent Revenue and Contracting Consultant, is committed to assisting the Company from sales through collections for their clients and facilities nationwide. Tom Toland, CEO of SurgLine stated, "As business owners and consultants in the healthcare revenue cycle, Tandem is fully aware of the revenue issues implants present from the contracting aspect through the procurement, billing and collection process. Together, the group brings an excellent result based reputation and proven work ethic and track record that contributes to their overall success. Combined the Tandem team brings over 47 years of healthcare experience and have cultivated relationships within the medical industry that are integral to the Company's success. Tandem currently services over 25 facilities and each facility does up to 2,000 cases per month." Mike Fischer, President of Tandem, stated, "We are excited about the remarkable opportunity to partner with SurgLine in this solution to high implant costs. Our business ethics parallels that of SurgLine and was a major factor in our decision to combine forces and utilize each of our industry relationships by working together. Not only will our clients benefit from lower hard costs and ultimately greater net revenue but we are able to partner with a management team at SurgLine that is like no other we have been associated with. Their desire to revolutionize the medical implant industry is genuine and their integrity is unmatched." SurgLine's Independent Consultant, Robin Workman stated, "The outlay of capital to procure devices is punitive to facilities overall and usually the second or third highest expense a facility realizes each year. SurgLine can cut facility expenses significantly resulting in a better bottom line for the facility. Removing the brand premium also allows facilities to contract with more payers, enjoy higher case volume and attract more physician partners." About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. About Tandem Receivable Solutions Located in Woodland Park, Colorado, Tandem Receivable Solutions is a complete Medical A/R specialist that collects medical claims on the medical facilities' behalf faster, better and at less cost than a traditional collection agency. They specialize in payer payment issues and have a vested interest in financial results and do so through honesty, integrity, and hard work.
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China Nuvo Solar Target Acquisition SurgLine Updates OptiMedical Corp.'s Sales Forecast in Excess of $10,000,000 Company has signed agreements in place and finalizing additional product distribution contracts Press Release Source: China Nuvo Solar Energy, Inc. On Tuesday August 16, 2011, 9:15 am EDT WEST PALM BEACH, Fla., Aug. 16, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine, Inc. ("SurgLine") and one of its previously announced stocking distributors, OptiMedical Corp. ("OptiMedical") is in the final stages of completing a multi-million dollar order and as a result has revised its forecast to be in excess of $10 million by the end of 2012. Additionally, the Company is negotiating with other stocking distributors and channel sales agreements with third parties regarding additional sales and distribution of the Company's product line. Tom Toland, CEO of SurgLine stated, "The stocking distributorship agreement we have in place with OptiMedical Corp. is just one example of how we plan to penetrate the marketplace. They happen to specialize as a trauma product distributor, and we are confident their sales can reach the $10 million plateau. When you combine the upwardly revised OptiMedical forecasted revenues with our other previously announced agreements we believe we are building the foundation for the future of our Company." About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup.
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China Nuvo Solar Provides Update on SurgLine Acquisition Press Release Source: China Nuvo Solar Energy, Inc. On Wednesday August 17, 2011, 9:15 am EDT WEST PALM BEACH, Fla., Aug. 17, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) in response to shareholder's inquiries regarding the status of their transaction with SurgLine, Inc. ("SurgLine") today announced that the parties are concluding their respective due diligence items. These items include the completion of the schedules to the Definitive Agreement signed last month, as well as the completion of SurgLine's audited financial statements. Henry Fong, CEO of China Nuvo stated, "We are very pleased with the progress both of us are making in working with our lawyers and accountants to complete the transaction. We anticipate that we will be able to close the transaction within the next few weeks. Additionally, we are encouraged by the business affairs of SurgLine as they are successfully proving the validity of the business model." About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. About China Nuvo Solar Energy China Nuvo Solar Energy, Inc. is a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company is also seeking other business opportunities.
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China Nuvo Solar Target Acquisition SurgLine Reports on Marketing Progress Feedback to Company is exceeding expectations as stocking distributor's orders to begin this fall in multibillion dollar medical and surgical product industry Press Release Source: China Nuvo Solar Energy, Inc. On Wednesday August 24, 2011, 9:15 am EDT WEST PALM BEACH, Fla., Aug. 24, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine's various sales channels are all reporting success that is exceeding expectations for the distribution of the Company's product lines. The Company's plan of action to sell through stocking distributors as well as channel distributors and potentially with medical co-ops and other third party outsourcing solutions is being received better than originally forecasted throughout the industry. SurgLine's product lines include trauma, orthopedic, spine and ENT medical and surgical products selling into hospitals and surgery centers. Mr. Tom Toland, CEO of SurgLine was quoted as saying "As we speak to CFO's and CEO's of hospitals and surgery centers across the country, one common theme seems to emerge, they must cut costs without sacrificing the quality and healthcare at their facilities. SurgLine is able to meet both of these expectations by providing significant cost savings while maintaining their existing product quality." Toland continued, SurgLine's corporate business proposition is simple, "More Value for Your Healthcare Dollar." Our team has the ability to source the same or similar surgical and medical products from the original manufacturer sources and bring them to the end user with significant savings. As we begin to source more surgical and medical products for our potential clients, we anticipate deeper penetration as a result of savings we can provide for the client base. In some instances, SurgLine is negotiating for the exclusive distribution rights to market these products in the United States, which will provide SurgLine with an even greater value proposition to the end users in these important markets." Richard Dutch, COO of SurgLine stated "We believe all of our sales partners will have continued success by transitioning more of their customers and taking advantage of our value-based pricing that does not compromise quality to the end user. The downward reimbursement pressures from insurance payers including the Federal Government and State Governments continues to erode operating margins for the hospital and surgical center operators. We believe we will continue to see substantial demand for our high quality, low cost products to be of significant value as a result of the quantifiable savings we can provide. One would expect that our orders will climb as we continue to introduce our value line of surgical products known as SURG to the marketplace." About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospitals, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. About China Nuvo Solar Energy China Nuvo Solar Energy, Inc. is a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company is also seeking other business opportunities.
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WEST PALM BEACH, Fla., Sept. 6, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that it has completed the acquisition of 100% of the common stock of SurgLine, Inc. ("SurgLine"). Pursuant to the terms of the Share Exchange Agreement SurgLine will become a wholly owned subsidiary of China Nuvo. The Company will continue to trade under the symbol CNUV. At the appropriate time the Company will seek to change its name and symbol to reflect the business of SurgLine. SurgLine's product lines include trauma, orthopedic, spine and ENT medical and surgical products selling into hospitals and surgery centers. SurgLine, formed earlier this year and in business for a few months already is generating revenues and orders as previously reported. Mr. Tom Toland, CEO of SurgLine was quoted as saying, "I speak for the entire SurgLine executive team in that we are looking forward to a highly successful business platform with China Nuvo. We appreciate their commitment to assisting in getting this transaction closed in an expeditious manner. We are focused on telling the SurgLine story, of 'More Value for Your Healthcare Dollar' and positioning the company for great success for the future." Toland continued, "As a company we are committed to reduce healthcare costs while maintaining the quality products that the hospital or surgical center has provided in the past in servicing their patients. We have been extremely satisfied with the response we are getting throughout the healthcare industry as we introduce our medical and surgical products and the impact we can have in containing costs while maintaining quality." Henry Fong, Chairman of China Nuvo, stated, "We are very pleased to have concluded this transaction. We believe this acquisition made the most sense for our shareholders, as SurgLine is already a revenue generating company. They have assembled a talented management team that has had success in their pasts and built supplier and distributor relationships over their combined 100 years of healthcare industry experience " About SurgLine, Inc. SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospitals, self insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup. |
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8-Sep-2011 Entry into a Material Definitive Agreement, Completion of Acquisition ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. The disclosures set forth in Item 2.01 are hereby incorporated by reference to this Item 1.01. ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. (A) SHARE EXCHANGE TRANSACTION WITH SURGLINE, INC. On September 1, 2011, the Registrant entered into and consummated the First Amendment to the Agreement Concerning that Exchange of Securities (the "Share Exchange Agreement") with SurgLine, Inc., a Nevada corporation ("SurgLine") and the shareholders of SurgLine. Upon consummation of the transactions set forth in the Agreement (the "Closing"), the Registrant adopted the business plan of SurgLine. Pursuant to the Agreement, the Registrant agreed to acquire all of the outstanding capital stock of SurgLine in exchange (the "Share Exchange") for the original issuance of an aggregate of 857,143 shares (the "Exchange Shares") of the Registrant's Series B Preferred Stock, par value $0.001 per share (the "Series B Preferred Stock"). The Exchange Shares will be issued on a pro rata basis, on the basis of the shares held by such security holders of SurgLine at the time of the Exchange. Further in accordance with the Agreement, and following an amendment of the Registrant's Articles of Incorporation, the Exchange Shares will be converted into an amount of shares of the Registrant's common stock, par value $0.001 per share (the "Common Stock") equal to 70% of the issued and outstanding Common Stock of the Registrant. Additionally, pursuant to the provisions of the Share Exchange Agreement, the Company issued 163,609,476 newly issued shares of Common Stock to the SurgLine shareholders, in satisfaction of the anti dilution provisions in the Share Exchange Agreement. As a result of the Share Exchange, SurgLine became a wholly-owned subsidiary of the Registrant. The parties have taken the actions necessary to provide that the Exchange is treated as a "tax free exchange" under Section 368 of the Internal Revenue Code of 1986, as amended. The Agreement contains customary representations, warranties and covenants of the Registrant and SurgLine for like transactions. The Share Exchange was effective upon the completed filing of Articles of Exchange with the Secretary of State of Nevada. The foregoing descriptions of the above referenced agreements do not purport to be complete. For an understanding of their terms and provisions, reference should be made to the Agreement attached as Exhibits 10.1 to this Current Report on Form 8-K. A copy of the press release dated September 6, 2011 announcing the completion of the documents relating to the Share Exchange is attached to this Form 8-K as Exhibit 99.1 and incorporated herein by reference. -------------------------------------------------------------------------------- On September 1, 2011, as a covenant to the Agreement, holders of a majority of the Registrant's outstanding Common Stock voted to amend the Registrant's Articles of Incorporation to increase the number of its authorized shares of capital stock from 1,500,000,000 shares to 6,500,000,000 par value $0.001 shares (the "Amendment") of which (a) 6,475,000,000 shares were designated as Common Stock and (b) 25,000,000 shares were designated as blank check preferred stock. At the effective time of the Exchange, our board of directors and officers was reconstituted by the resignation of Henry Fong as President and Chief Executive Officer of the Registrant and the appointment of Thomas G. Toland as a member of the Registrant's Board of Directors, President and Chief Executive Officer and Richard Dutch as Secretary and Chief Operating Officer of the Registrant. Additionally, the Registrant has agreed to issue 142,857 shares of its Series B Preferred Stock to Abod Partners, LLC. ("Abod"). Abod has acted as a consultant to the Registrant in facilitating the Agreement by and among the Registrant and SurgLine. Upon the effectiveness of the increase in the authorized shares of capital stock of the Registrant, the 142,857 shares of Series B Preferred Stock were exchanged for 545,364,919 shares of our Common Stock. (B) POST-EXCHANGE BENEFICIAL OWNERSHIP OF THE COMPANY'S COMMON STOCK The following table provides information, immediately after the Share Exchange, including the conversion of the Series B preferred Stock regarding beneficial ownership of our Common Stock by: (i) each person known to us who beneficially owns more than five percent of our common stock; (ii) each of our directors; (iii) each of our executive officers; and (iv) all of our directors and executive officers as a group. The number of shares beneficially owned is determined under rules promulgated by . . . Item 2.02 Results of Operations and Financial Condition. Management's Discussion and Analysis or Plan of Operation This discussion should be read in conjunction with the other sections of this Current Report, including "Risk Factors," "Description of the Company" and the Financial Statements attached hereto as Exhibits 99.1 and 99.2 and the related exhibits. The various sections of this discussion contain a number of forward-looking statements, all of which are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this Current Report. See "Cautionary Statement Regarding Forward-Looking Statements." Our actual results may differ materially. Background SurgLine, Inc. (the "Company") was incorporated in the state of Nevada on March 15, 2011. The Company is a development stage company that will focus on providing their customers with high quality surgical products at the lowest possible cost by eliminating the "historical brand premium" typically associated with these types of products. Factors Affecting Our Results of Operations - Generally We believe the most significant factors that directly or indirectly affect our revenues and net income are: � Our ability to source quality medical and surgical products � Selling our brand for approximately 35% less than existing suppliers, as we lack the historical brand premium that many of our competitors carry. � Allowing our distributors to make additional margin than they currently make from other suppliers, due to pricing pressures from suppliers and end users. � Providing the end user with same quality product while enabling them to increase their margins on our products � The availability and required terms of funding for our working capital, since additional working capital is required to allow us to purchase more product and to support our administrative costs Plan of Operations We plan on sourcing from manufacturers those highest quality products, similar to the leading brands. Our brand does not carry the historical brand premium that our competitors do. We anticipate this may enable us to sell our product for approximately 35% less than the current average price, while maintaining gross margins in excess of 50%. Principal products and services Our philosophy is to deliver quality products at a lower price, in order to provide the healthcare industry "More Value for Your Healthcare Dollar." Substantially all of our products have been approved by the Food and Drug Administration ("FDA"). Our products include, but are not limited to the following: � Surgical Instruments Scissors, forceps, basket punchers and reamers � Surgical sets and Specialties Hand and foot Hips Small fragment sets Spine hardware, plates, pedicle screws, cages and more Trays, screws, instruments and implants � Emergency removal kits Broken screw removals and implant removals � Full range of disposable products � Full range of endoscope products -------------------------------------------------------------------------------- Sales and Marketing Through the relationships our executive management team has developed in their combined years of industry experience, we plan on building a team of experienced, relationship driven sales personnel. This will include entering into stocking distributorship agreements, sales channel agreements, direct sales to end users, industry known and developed medical co-ops in the U.S. representing many stocking distributors throughout the U.S. and utilizing implant outsourcing organizations that serve more than 2,500 surgery centers and hospitals throughout the U.S. GOING CONCERN We have incurred losses from operations of $245,136 and had no revenues from operations from inception on March 15, 2011 through the period ended June 30, 2011. Further, the Company has inadequate working capital to maintain or develop its operations, and is dependent upon funds from private investors and the support of certain stockholders. These factors raise substantial doubt about the ability of the Company to continue as a going concern. Although we did have sales of approximately $110,000 subsequent to June 30, 2011 management is planning to raise necessary additional funds through loans and additional sales of its common stock. There . . . ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES As disclosed in Item 2.01, in connection with the Share Exchange, the Company issued an aggregate of 3,981,163,909 shares of its common stock to the former holders of SurgLine Common Stock. On September 1, 2011 in conjunction with the Share Exchange Agreement, the Registrant issued 545,364,919 shares of its common stock to Abod Partners, LLC., its consultant in the transaction. |
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Press Release Source: China Nuvo Solar Energy, Inc. On Monday September 26, 2011, 9:00 am EDT WEST PALM BEACH, Fla., Sept. 26, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that its wholly owned subsidiary, SurgLine will be working with Independent Medical Coop, Inc. ("IMCO"). IMCO (www.imcoinc.com) is the premier association for the independent medical supply distributor. Their 160 distributor locations are a driving force in multiple markets, including primary care, extended care, acute care and other markets. Mr. Tom Toland, CEO of SurgLine was quoted as saying "We are very excited that IMCO has agreed to allow us to introduce our product to their distributors throughout the country. We have a strong presence in Southern California with the stocking distributors we have in place, such as OptiMedical, Corp and others. The potential of working with IMCO gives us the opportunity for additional market penetration throughout the country." Mr. Richard Dutch, President of SurgLine commented, "I have been involved with IMCO and admire their ability to streamline product distribution in working with their distributors. We are confident as their distributors investigate and compare our product against our competitors they will see the value of our products." Deb Bullock, President of IMCO, stated "We are very interested and intrigued to see our distributor's reaction as they are introduced to SurgLine's products. I have worked with Richard previously and have tremendous confidence in him and his team to be able to offer to IMCO and our distributors the highest quality product at the most competitive prices in the industry. We look forward to introducing their products to our members nationwide." |
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