Certive Solutions Inc. (CSE: CBP) Clarifies Relationship with Auersoft LLC
March 10 2014 - 8:00PM
Marketwired
Certive Solutions Inc. (CSE: CBP) Clarifies Relationship with
Auersoft LLC
SCOTTSDALE, ARIZONA--(Marketwired - Mar 10, 2014) - The Board of
Directors of Certive Solutions Inc. (CSE:CBP)(the "Company") wishes
to clarify its relationship with Auersoft LLC ("Auersoft") since
July 2, 2013, the date of the termination of the Asset Sale and
Purchase Agreement among the Company, its wholly-owned subsidiary
and Auersoft, as amended (the ASAPA).
The ASAPA, pursuant to which a wholly-owned subsidiary of the
Company was to purchase substantially all of Auersoft's assets,
expired by its own terms and terminated on July 2, 2013. On July
12, 2013 the Company and Auersoft LLC issued mutually agreed upon
press releases disclosing this fact. The Company is concerned that
there may be confusion in the marketplace about the nature of the
Company's relationship with Auersoft since the termination of the
ASAPA on July 2, 2013. The following describes the relationship
that has existed between the two entities since the ASAPA's
expiration:
- The expiration of the ASAPA included, among other things, the
expiration of the Platform License and Services Agreement (the
"PaaS License"), pursuant to which, among other things, Auersoft
granted the Company's wholly-owned subsidiary a license to install
and use certain Auersoft software and resell access to the software
to its customers. The effect of the expiration of the PaaS License
was, and continues to be, that the Company has no right to
independently solicit and secure customers using VisualVault
Technology.
- The expiration of the ASAPA also required the Company and its
affiliates to cease using the VisualVault name, logo and trademarks
in any of its business dealings. The Company has re-branded itself,
changed its name and trading symbol, all of which also reflects the
broader scope and direction of the Company.
The Company has shifted its focus from purchasing a BPM platform
to options for licensing such technology platforms in an effort to
reduce or eliminate the need for significant capital investment,
enabling the deployment of capital resources toward building the
Company's solutions-based business.
ON BEHALF OF THE BOARD OF DIRECTORS OF CERTIVE SOLUTIONS
INC.
Van Potter, President, CEO, Director
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides cloud
revenue cycle management solutions to U.S. hospitals, delivered
collaboratively, utilizing proprietary workflow document management
and analytics technologies tailored to healthcare business
processes. Certive is currently focused on the denied claim segment
of revenue cycle management.
The forward-looking information contained in this press
release is made as of the date of this press release and except as
required by applicable law, the company does not undertake any
obligation to update publicly or to revise any of the included
forward-looking information, whether as a result of new
information, future events or otherwise. By its very nature, such
forward-looking information requires the company to make
assumptions that may not materialize or that may not be
accurate. This forward-looking information is subject to known and
unknown risks and uncertainties and other factors, which may cause
actual results, levels of activity and achievements to differ
materially from those expressed or implied by such information.
Neither the Canadian Securities Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Certive Solutions Inc.Brian CameronChief Financial
Officer480-922-5327bcameron@certive.com
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