ORLANDO, FL / ACCESSWIRE / February 8, 2023 / Costas, Inc. (OTC PINK:CSSI) ('CSSI' or 'the Company'), doing business as Standard Dental Labs Inc., continues discussions with several dental lab owners to acquire them.
Soon after the acquisition of Prime Dental Lab in August of 2022, Standard Dental Labs (SDL) had also been in discussions with several other lab owners in the Orlando area, with the intent to acquire them. Last August, after only a few weeks of negotiation, the owner of Prime Dental agreed to the terms of acquisition, and the Company closed the deal with Prime Dental, however several other owners at the time expressed interest in the offer, and have shown continued interest in SDL.
Since then, the Company made the decision to file an S-1 registration form, and submit audited financial statements with the intent of becoming a reporting issuer. This decision forced the Company to postpone discussions on the acquisition of any other labs in the short term. Now that the Company is closer to completing this process, SDL has re-opened discussions with 2 of the original lab owners, who are still interested in discussing the possibility of selling their businesses to the Company.
In addition to these 2 labs, the previous owner of Prime Dental Lab, John Kim, has also been discussing with other Orlando based lab owners, his high level of satisfaction brought to him by the team at Standard Dental Labs. Mr. Kim has reported that 5 more lab owners are eager to work out terms to acquire their labs, and the Company has plans to prepare offers for them as soon as is practically possible.
Costas, Inc. (operating as SDL), is committed to executing its plan to acquire as many dental labs in the Orlando area, and to consolidating those labs into one central, 'Mega Lab'. The Company has clearly identified targets, and the management of Costas will do its best to close an acquisition deal on any interested, and qualified dental lab.
James Brooks, CEO of Costas and SDL, said on Tuesday that 'There are thousands of baby boomers retiring in the US every day, and many of them own small businesses, like dental labs. Although we can't buy all these small businesses from them, we can buy dental labs, and we are ready to grow.' According to a PEW Research study in November, 2020. COVID-19 has actually increased the pace of retirement in the Baby Boomer generation. As many as 28 million people retired in the US in the 3rd quarter of 2020, said the study, which is 3.2 million people more than in the previous year during the same period. (https://www.pewresearch.org/fact-tank/2020/11/09/the-pace-of-boomer-retirements-has-accelerated-in-the-past-year/)
Costas, Inc. (CSSI), now doing business as Standard Dental Labs Inc., is a company engaged in discovering, acquiring, and developing dental labs throughout the United States. The company plans to acquire independent labs looking to exit the market or who may be interested in retirement. Acquiring labs will be the focus of our growth strategy. Labs will be consolidated into one regionally central lab, and continue to operate, adding revenue to the company's income statement. All North American markets with populations over 1 million are targets. The company is headquartered in Orlando, Florida.
This press release and the statements of representatives of Costas, Inc. (the 'Company') related thereto contain, or may contain, among other things, 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are 'forward-looking statements,' including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as 'guidance,' 'projects,' 'may,' 'could,' 'would,' 'should,' 'believes,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'ultimately' or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results (including, without limitation, Costas' ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these factors. The company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE: Costas, Inc.
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