SOURCE: Techs Loanstar, Inc

May 12, 2011 07:00 ET

Techs Loanstar Provides Additional Details in Acquisition of Healthcare Performance Measurement Business Q'uture Inc.

Company Is an Emerging Healthcare Knowledge Solution Company Developing a Standard in Measuring Clinical Performances

WEST PALM BEACH, FL--(Marketwire - May 12, 2011) - Techs Loanstar, Inc. (OTCQB: TCLN) (PINKSHEETS: TCLN) today announced additional details in its plans to acquire Q'uture Inc. ("Q'uture"). Q'uture, a Nevada corporation, based in Florida, is in the business of developing electronic products to measure clinical performance for healthcare organizations globally. As announced on April 25th 2011, the parties executed a non-binding Letter of Intent ("LOI") and are moving toward the signing of a definitive merger agreement (the "Agreement") by June 30th, 2011. Pursuant to the terms of the already announced LOI, Techs will acquire one hundred percent of the outstanding common stock of Q'uture, in exchange for approximately eighty percent (80%) of newly issued restricted stock of Techs, on a fully diluted post merger basis. The Company's shares will continue to trade under the stock ticker "TCLN" with Q'uture becoming a wholly owned subsidiary of the parent. After the completion of the merger, Techs will seek to change the stock symbol to reflect the new core operations of Q'uture. It is the goal of the company to remain a fully reporting company and to rapidly seek an upgraded listing status to either Small Cap Nasdaq or NYSE as soon as it qualifies for such listing.

Closing of the transaction is subject to customary conditions including, among other things, the negotiation and execution of definitive agreements as well as the approval of both companies' boards of directors and any and all necessary stockholder or regulatory approval, with an eventual name and ticker symbol change to follow. Techs plans to be debt free at the time of the closing, other than exceptions which must be agreed to by both parties. The Company plans on achieving "debt free" status through the conversion of existing debt to common stock equity as well as the planned divestiture of its subsidiary, which is also expected to occur prior to closing.

Commenting on the potential merger/exchange, Landon Feazell, the CEO of Q'uture, stated: "We are elated to be entering the public market place. As an active publically traded company, Q'uture will have the access to capital and have currency to make acquisitions in our business sector of components that will augment our current decisive aggressive growth strategy. We plan on communicating our progress regularly, consistently and effectively with both our existing and future prospective investors. We will also soon be launching a comprehensive new website geared not only to our customer base but to the investor community at large. We are looking forward to our future with enormous optimism and enthusiasm."

About Q'uture

Q'uture's mission statement is to become the Gold Standard in Healthcare Performance Measurement. Q'uture provides healthcare organizations, insurers, government payers, and other stakeholders in the healthcare community with performance measurement tools and data sets. Industry experts agree that these performance measures are the "transformative tool" that reduces medical cost and improves quality of care. Q'uture's management team has 35 years of experience and a long history of working with many of the nation's leading healthcare institutions as a leader and innovator in measuring clinical performance. Q'uture plans include developing a revolutionary solution to effectively and efficiently measure clinical performance from multiple vendor databases.

About Techs Loanstar, Inc.

Techs Loanstar, Inc., a Nevada company, was initially organized to provide loan management service and software for the equity and payday loan industry. Upon completion of a Share Exchange Agreement in February 2010, Techs ceased all operations relating to its historical business and adopted the business plan of ZenZuu USA, Inc. ("ZZUSA"). ZZUSA was formed to acquire an exclusive license to use and operate in the United States, an online social database and advertising revenue-share model for the purpose of seeking a business opportunity in the online social network industry.

Forward-Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. There is no assurance that a definitive agreement will be completed.

Contact Information

  • Contact:
    Investor Relations
    Constellation Asset Advisors, Inc.
    Jens Dalsgaard
    President
    +1 (415) 524-8500