May 7, 2008 — VT International Corp. says it has completed its acquisition of Nanotailor Inc. in a stock-for-stock, tax free exchange transaction. Nanotailor licensed the rights to a manufacturing process, developed at the NASA Goddard Space Flight Center, to create single-walled carbon nanotubes. The inventor of that process retired from NASA and is now employed exclusively by Nanotailor.
“We believe the acquisition of Nanotailor will bring good value to our shareholders. We are excited about Nanotailor’s potential,” commented Michael S. Williams, President of VT International Corp., who resigned effective with the closing of the acquisition. “We also believe Nanotailor’s technology has potential across multiple industries. With their advantages, we believe Nanotailor has the opportunity to really stimulate the development of exciting leading edge technologies.”
The Nanotailor management team is working to trade on the public markets within the foreseeable future. Next week, VT International Corp. expects to file Articles of Merger in Arizona and Delaware to merge with and into a new Delaware corporation with the purpose of carrying on the Nanotailor name (“New Nanotailor”). Upon acceptance of the filings, New Nanotailor will be the Surviving Corporation domiciled in Delaware but will continue the company’s capital structure. Company shareholders may, but will not be required, to exchange their Company shares for New Nanotailor shares. New Nanotailor will also be seeking stockholder approval to affect a reverse stock split of its common stock outstanding. Peacock, Hislop, Staley & Given, Inc., a Phoenix, Arizona-based licensed broker-dealer has agreed to file a Form 211 with the Financial Industry Regulatory Authority to seek trading of Nanotailor’s common stock. Upon completion of an audit, expected within 30 days, Nanotailor will then file a Form 10 Registration Statement with the Securities and Exchange Commission to become a fully reporting company.
According to Ramon Perales, President and CEO of Nanotailor and now the Chief Executive Officer of the new company as well, “Having access to public capital will further assist us in solidifying relationships we have been courting with global companies and government organizations and accelerate our commercialization plans.”
Further details regarding Nanotailor becoming a publicly traded company will be posted on Nanotailor’s website as more information becomes available.
Carbon nanotubes (“CNTs”) are nanoscopic building blocks comprised of geometrically aligned carbon atoms, which give the CNTs their extraordinary properties. Of all CNTs, Single-Walled CNTs have superior mechanical, electrical, and thermal properties that lend themselves to wide array of applications and industries.