ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Aug. 28, 2002-- Nutraceutical Clinical Laboratories International, Inc. (Pink Sheets:NCCL) announced today the retirement of its Founder and former Chairman and Chief Executive Officer, Paul L. Simmons, effective August 1, 2002. Mr. Simmons will remain as a research and development consultant to the Company.
"NCLII is a Company that is near and dear to my heart. However, at age 74, it's time for me to slow down. I feel very confident that the new management team I assembled will lead this Company to the next level. I am very excited that I will continue to help the Company with research and development of new products and existing product enhancement. I look forward to working with Gary Harrison and watching the Company evolve and grow."
"Paul Simmons was very instrumental to the start-up and success of this Company to-date. His knowledge and contribution to the Company's current technology is priceless. I am happy for him in retirement and also excited that he will continue on in a consulting capacity in building the Company he started," stated Gary L. Harrison, NCLII's Chairman and Chief Executive Officer.
Nutraceutical Clinical Laboratories International, Inc. trades on the OTC market under the symbol "NCCL" and can be found on the Internet at: nasdaq.com, cnbc.com, pinksheets.com, and otcquote.com. Additional Company Information may be found at Nutraceutical Clinical Laboratories International, Inc.'s web site: http://www.nutradata.com.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing news release regarding the Company's business strategy and plans of management for future operations are "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements, which include, but are not limited to, words such as "expect," "anticipate," "plan," "estimate," "project" and "intend" are based on management's beliefs and assumptions, and on information currently available to management. Forward-looking statements involve certain known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, among others, the Company's ability to successfully implement its business plan; any uncertainties relating to business and economic conditions in markets in which the Company operates; any uncertainties relating to customer plans and commitments; the timely development and market acceptance of the Company's products and technologies; possible product defects and product liability, dependence on intellectual property rights, the highly competitive environment in which the Company operates and other risks detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.