Navigation Links
Genesis Pharmaceuticals Appoints KPMG to Help Develop a SOX 404 Compliance Program

LAIYANG, China, Jan. 13 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that it engaged KPMG Huazhen ("KPMG"), a member firm of the KPMG network of independent member firms affiliated with KPMG International, to assist the Company in complying with the financial reporting and control requirements of Sarbanes-Oxley Act Section 404 ("SOX 404").

KPMG will work closely with Genesis' management to help prepare a SOX 404 compliance program by sharing with Genesis' management its knowledge about how other firms comply with SOX 404 requirements on an ongoing basis. As part of compliance with SOX 404, Genesis and its external auditor will examine and report on the adequacy of the Company's internal financial reporting and control systems after documenting and testing financial reporting and control procedures. Genesis' SOX 404 compliance program will address how management's decision making is linked to financial reporting risks.

"We are pleased to engage KPMG for this important undertaking, part of our efforts to ensure that Genesis is in full compliance with the requirements of SOX 404," said Mr. Wubo Cao, Chief Executive Officer of Genesis. "We hope that our efforts increase shareholders' confidence in our financial reporting standards and commitment to upgrade to a senior stock exchange."

About Genesis Pharmaceuticals Enterprises, Inc.

Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, and granule form.

Safe Harbor Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's implementation of SOX 404. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

    For more information, please contact:

     Genesis Pharmaceuticals Enterprises, Inc.
     Ms. Elsa Sung, CFO
     Phone:   +1-954-727-8435

     CCG Investor Relations, Inc.
     Mr. Crocker Coulson, President
     Phone:    +1-646-213-1915
     Web site:

SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. OmegaGenesis Announces Angiogenesis Application Collaboration
2. Cardiogenesis Announces Addition of Raymond W. Cohen to Board of Directors
3. Tissue Genesis Applies CE Mark to Its Adult Stem Cell Isolation System
4. Cardiogenesis Reports Third Quarter 2008 Results
5. ThermoGenesis Presentation at Rodman & Renshaw Conference
6. Genesis Pharmaceuticals Launches New Corporate Website
7. ThermoGenesis Corp. to Announce First Quarter Fiscal 2009 Results on November 6, 2008
8. ThermoGenesis Announces Distribution Agreement for Bone Marrow Stem Cell Device
9. ThermoGenesis Reports Record Quarterly Revenues of $7.2 Million; Full Year Revenues Increase 31 Percent
10. Genesis Pharmaceuticals Completes Reverse Stock Split and Will Trade Under a New Symbol
11. ThermoGenesis Corp. to Announce Fourth Quarter and Year End Results for Fiscal 2008 on September 9, 2008
Post Your Comments:
(Date:11/23/2015)... ... November 23, 2015 , ... Shimadzu Corporation announces that it ... Unified Chromatography system. The award from R&D magazine recognizes Shimadzu’s Nexera UC system ... in the analytical and testing category. R&D Magazine chose the Nexera UC system ...
(Date:11/23/2015)... CAMBRIDGE, England and PISCATAWAY, ... -- Cambridge Crystallographic Data Centre ... of the Cambridge Structural Database (CSD) and the ... suites for researchers worldwide: CSD-Discovery to support the ... of crystalline materials, and CSD-Enterprise, the complete set ...
(Date:11/23/2015)... WASHINGTON , Nov. 23, 2015 ... research firm to exclusively serve the ... of its global strategic report, "Mesenchymal ... Published November 2015, it presents 250 ... mesenchymal stem cell (MSC) industry. ...
(Date:11/23/2015)... 2015 Research and Markets ( ) has ... Service Type, Product/Technology, Application and Geography - Global forecast to ... --> --> The overall service laboratory market ... to USD 5.45 Billion by 2020, at a CAGR of ... --> The market in APAC is expected ...
Breaking Biology Technology:
(Date:11/18/2015)... 2015 --> ... market report titled  Gesture Recognition Market - Global Industry ... 2021. According to the report, the global gesture recognition market was valued ... reach US$29.1 bn by 2021, at a CAGR of ... America dominated the global gesture recognition market ...
(Date:11/16/2015)... , Nov 16, 2015  Synaptics Inc. ... human interface solutions, today announced expansion of its ... ™ touch controller and display driver integration ... of smartphones. These new TDDI products add to ... (HD resolution), TD4302 (WQHD resolution), and TD4322 (FHD ...
(Date:11/10/2015)... 2015  In this report, the biomarkers ... product, type, application, disease indication, and geography. ... are consumables, services, software. The type segments ... efficacy biomarkers, and validation biomarkers. The applications ... development, drug discovery and development, personalized medicine, ...
Breaking Biology News(10 mins):