January 22, 2010 07:30 ET

Macada Holding, Inc. Announces Company Update

Company Overview

FT. LAUDERDALE, FL--(Marketwire - January 22, 2010) - Macada Holding, Inc. (PINKSHEETS: MCDA) announced the GCNV deal has been canceled due to the structure of the company, and most important it is not right for the shareholders. And the future structure of what management is looking for to complete its plans and vision.

Management intends to sell the company's subsidiary Lyfetec, Inc. together with its assets to a more structured company and move onto the OTC Bulletin Board as a reporting company. Management stated that Macada Holding, Inc. has completed its audit on Lyfetec, Inc. and will begin auditing Macada soon after the acquisition is completed and closes next month. The company is now in the process of finalizing definitive agreements regarding its recently announced for Lyfetec to be acquired with a company positioned to accommodate our needs. To this end, management will increase the transparency of the company through public disclosure and the posting of financial statements of Lyfetec, Inc. and the new company.

Management stated that Lyfetec's continued focus will be in the medical industry, and that the acquiring company will be released upon completion of the closing, in addition to acquisition agreements. As a fully reporting company, management has continued to target other medical industry companies for acquisition which are in place after the closing.

Once all deals are completed, Macada Holding shareholders will receive a pro rata dividend of the new parent Bulletin Board Company while retaining their Macada Holding shares. As of today's date, the company's share structure is still the same.

Lyfetec, Inc. also announces, as of today that the company is exploring the opportunity of an acquisition and merger of its first pharmacy, two medical clinics and a distribution company with a major national Pharmacy chain as a customer. Lyfetec, Inc., together with the clinics, plans to open its own laboratories for the testing of our blood line test kits. We presently have professional relationships in the United States and Internationally, the company's global private brand license and distribution rights with their manufacturing products to a broad range of personal health monitoring and screening test kit products and services, Lyfetec will be one of the first to market with over 150 medical kits with a unique position in this changing global consumer health market. Our boxes for the first 8 major products shall be completed next week.

Under the terms of the definitive agreement, the acquisition and merger will be effected with a combination of Lyfetec preferred and common stock, and is scheduled to close soon.

Management stated that more information will be released subsequent to closing.

Safe Harbor Provision

This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Macada Holding, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.

Contact Information

  • Contact:
    Steven Cohen