Certive Solutions Inc. (CSE:CBP) Clarifies Relationship with Auersoft LLC
11 March 2014 - 11:00AM
Marketwired Canada
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:
a. 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.
b. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Certive Solutions Inc.
Brian Cameron
Chief Financial Officer
480-922-5327
bcameron@certive.com
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