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WILMINGTON, Del., May 11 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc. (OTC Bulletin Board: UCMT.OB), a Business Development Company which provides emerging growth companies with management and strategic resources for successful growth, announced today that it has added SP&S (Scientific Products & Systems, Inc.), to its collection of portfolio companies. The actual transaction occurred on April 27th 2007.
Universal is planning to do an IPO and dividend spinout to all of UCMT's shareholders at the appropriate time pursuant to a fully registered offering of SP&S common stock and or rights offering. Universal is planning to use this combination of an IPO and dividend spinout for its private portfolio companies when they are ready to enter the public marketplace.
SP&S (Scientific Products & Systems, Inc.) offers its OnePump technology to pharmaceutical, bioscience, dental and other markets for precision liquid dispensing. SP&S believes this patented technology provides its customers the world's most accurate dispensing platform. SP&S has filed over 15 patents with three patents having been issued on its core technology. Currently, for example, the dispensing systems have been FDA validated for dispensing injectable cancer drugs. OnePump systems also are used to dispense live virus and dental syringe products. The OnePump products are being used in worldwide markets in the United States, Canada, Spain and in China. The company has been requested by its customers to provide more than the precision pump portion of the solution, so it has developed a OneBloc processing platform of equipment for its markets. The OneBloc system was jointly developed with Hengsin MA, China, and was introduced at the New York Interphex show.
"We are very excited with having SP&S join our portfolio of companies. We anticipate SP&S to be a world leader of reasonably priced pharmaceutical processing systems based on its intellectual property and the association with HengSin MA," said Joseph Drennan Vice President of Universal Capital Management.
Forward-Looking Statements:
The information contained in this press release may contain "forward- looking statements." You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "believe," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to the following which could affect Universal Capital Management, Inc. or one or more portfolio companies: general economic and business conditions, effects of continued geopolitical unrest, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
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