SNIO’s incoming CEO, Gilbert R. Kaats, PhD, pointed out that “I think it is important for our shareholders to know that this was not the result of the investment of additional funds,” said Kaats. “We offset these liabilities by providing the creditors with preferred shares in Taj Systems, Inc., one of our portfolio companies that trades on the Pink Sheets under TJSS. Thus, while our liabilities were reduced, so were our assets,” Kaats pointed out. Kaats also reported that “…even after offsetting the $736,400 of liabilities with Taj shares, SNIO retains approximately 4,246,394 shares…” 

SNIO's new management team will continue to focus their energies on its research and development activities, particularly its $1,300,000 grant previously awarded to IHT Research & Development, Inc., one of SNIO's portfolio companies. This grant is to conduct clinical trials involving 400 subjects from ages 8 to 80, to develop a bone-health program. 'Our inclusion of adolescents in this study is in direct response to the U.S. Surgeon General's 'call to action' to the healthcare industry in light of a study finding that almost 85% of high school girls are receiving insufficient amounts of bone-building nutrients for normal growth,' said Sam Keith, the R & D company's CEO. 'This nutritional deficiency is particularly troublesome,' Keith pointed out, 'since most of the adolescents' bone growth occurs during these critical early years.