|By Marketwired .||
|March 10, 2014 08:00 PM EDT||
SCOTTSDALE, ARIZONA -- (Marketwired) -- 03/10/14 -- 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.
Certive Solutions Inc.
Chief Financial Officer