SOURCE: Friendly Auto Dealers, Inc.

March 31, 2010 08:30 ET

Friendly Auto Dealers, Inc. Announces Signing of Non-Binding Memorandum of Understanding With TMD Courses, Inc.

LAS VEGAS, NV--(Marketwire - March 31, 2010) -  Friendly Auto Dealers (OTCBB: FYAD) announced today that on March 26, 2010 it entered into a non-binding Memorandum of Understanding with TMD Courses, Inc., a California Corporation, to acquire TMD Courses, Inc.'s business in an exchange of stock between the companies.

TMD Courses, Inc.'s business includes the development and sale of dental devices.

Mr. Gerry Berg, the Company's Managing Consultant for Mergers and Acquisitions, commented: "When we started implementing the Company's initiatives to develop a new business model, we focused on a number of possibilities, including TMD Courses, Inc. The Company's approach was to field and investigate a number of possible opportunities coincidentally, and let the due diligence shape our actions. When our due diligence efforts with Excellent Auto Dealers, Inc. faltered at the end of 2009 and into 2010, the Company knew that it had to retrench and move forward. The emphasis and focus then began to form around TMD Courses, Inc."

Friendly Auto Dealer's new Director and President, Ming R. Cheung, stated: "The Company is thrilled at the possibilities this relationship presents to our shareholders, who have soldiered with us bravely over the past few months."

Mr. Stephen Chu, Friendly Auto Dealer's Special Advisor and Consultant for Mergers and Acquisitions, also commented: "The multi-dimensional approach the Company took in evaluating possible business acquisitions has been very positive and productive. TMD Courses represents a substantial step forward for the Company."

The non-binding memorandum of understanding requires that the parties commence due diligence investigations of each other immediately, and to begin work on a material definitive agreement, with a goal of consummating the transaction by May 14, 2010. If the material definitive agreement is not completed by that date, the transaction will either lapse altogether or may be extended by the mutual agreement of the Company and TMD Courses, Inc.

ABOUT FRIENDLY AUTO DEALERS, INC.

Friendly Auto Dealers is a start-up company incorporated on August 6, 2007, under the laws of the State of Nevada. The principal offices are located at 4132 South Rainbow Boulevard, Suite 514, Las Vegas, Nevada. The telephone number is (702) 321-6876. The fax number is (702) 939-0655.

Safe Harbor Statement

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • For more information please contact: Ming R. Cheung 1-702-321-6876