Irvine, CA, April 12, 2017 (GLOBE NEWSWIRE) -- April 11, 2017 - Irvine, CA. Cloud Security Corporation (OTCQB: CLDS) (the “Company”), has entered into a non-binding Letter of Intent with Five Branches University to design, develop and promote a series of medical spas that incorporate eastern medicine and western cosmetic non-invasive treatments to help people look and feel their best (“Wellness Bio Spas”). The parties will initially consider creating the first facility at the University’s school in San Jose which occupies 16,000 square feet of a building of approximately 57,000 square feet owned by the University. Additionally, the clinics expect to incorporate early detection and non-invasive testing for a variety of medical supervised tests.
The parties jointly agreed to the following
- Both parties will jointly use their existing relationships and contacts to develop an expandable model for the Wellness Bio Spa. The model should scale from a small model to a large model depending on the investors and location.
- Both parties will jointly design, develop, market and staff the Wellness Bio Spa.
- Both parties will jointly review the feasibility of creating the first facility at the location of the University’s campus in San Jose.
- The Company may use its public company stock and Chinese contacts to raise financing for the proposed joint venture.
- Both parties will work together to find partners, including cosmetic doctors and professionals, to facilitate the development and expansion of the Wellness Bio Spa.
Ron Zaidman, President & CEO of Five Branches University stated, “Our goal in creating the new healthcare centers is to achieve optimal health and wellness using the best of Western and Eastern healthcare. We are excited for the future and what developments may result by aligning our goals with Cloud Security."
About Five Branches University
In 1984, Five Branches University became one of the first Traditional Chinese Medicine (TCM) colleges in the United States. Today, they are recognized as one of the nation’s top TCM schools providing the highest level of professional education in Traditional Chinese Medicine and integrative medicine in the U.S. and internationally. Five Branches University offers ten programs related to Traditional Chinese and Integrative Medicine at its two California campuses in Santa Cruz and San Jose. Additional information concerning Five Branches University can be found at the Company’s website www.fivebranches.edu.
About Cloud Security Corporation
Cloud Security Corporation is an innovative cloud computing company whose technology and products allow for secure data connections to the cloud, through networks, traditional computers and mobile devices such as smartphones and tablets. The Company's flagship product - MyComputerKey(TM) - provides the ability for remote access security to any computer around the world. The Company also develops online application security products and mobile security technology in the Bring-Your-Own-Device (BYOD) market, a growing trend in today's mobile workforce.
For more information about the Company, please visit www.cloudsecuritycorporation.com.
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This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting the Company please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.