The Autoline Group Inc. Announces Acquisition of GeNOsys Inc.
SALT LAKE CITY--Aug. 1, 20058, 2005--The Autoline Group Inc. (OTCBB: AULN), a Utah corporation (the "company"), announced the closing of its merger proposal with GeNOsys Inc., a Nevada corporation ("GeNOsys"). Under the merger, GeNOsys became a wholly owned subsidiary of the company following the issuance of 40 million shares of the company's common stock that are "restricted securities" under Rule 144 to the stockholders of GeNOsys.About GeNOsys Inc.: GeNOsys is involved in the research and development of generic and specific gas-generating devices for medical and laboratory uses.
About The Autoline Group Inc.: Formed in 2001, the company is an automobile reseller that provides clients access to the national wholesale market. The company will adopt the planned business operations of GeNOsys.
This press release does not constitute an offer of any securities for sale.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully market the company's products and technology, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to achieve commercial acceptance of the company's products and technology, the inability to compete effectively in the marketplace, the inability to improve or implement effective systems, procedures and controls, the strength of the company's intellectual property and those of the company's competitors, the inability to protect the company's intellectual property, the inability to attract, train and retain key personnel and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.