FOUNTAIN HILLS, AZ -- (Marketwire) -- 06/27/12 -- Sunridge International (PINKSHEETS: SNDZ) announced today that it has received a $1,000,000 payment from Westhouse Medical of the United Kingdom, as partial payment towards the purchase of assets from Sunridge International. Another $1,000,000 payment will be made when the sale is concluded in approximately 45 days.
"This payment will allow us to address debt issues, get current with our SEC filings, and allow us to start moving forward with our first glaucoma clinic to be opened in Canada. Our business plan is to open company owned clinics throughout Canada with the exclusive use of our 'PNT' procedure. Based on our past experience in clinical operations, and income projections, we expect each clinic to provide approximately $1.5 to $2 million in profits annually. Once the first clinic is operational we intend to rapidly expand throughout Canada, providing good per share earnings and profitability to our company," states G. Richard Smith, Sunridge's president and CEO.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
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