Navigation Links
Genesis Pharmaceuticals Completes Reverse Stock Split and Will Trade Under a New Symbol
Date:9/4/2008

LAIYANG, China, Sept. 4 /Xinhua-PRNewswire-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a leading pharmaceutical company in the People's Republic of China, today announced that it completed a 40-for-1 reverse stock split of its common stock which will begin trading under the symbol "GNPH."

Upon today's market open, Genesis' common stock will no longer trade under the symbol "GTEC" and will begin trading on a split-adjusted basis under the trading symbol "GNPH."

Following this reverse stock split, the Company has approximately 10,325,000 shares of common stock outstanding.

"We are pleased to complete this reverse stock split of our common stock as part of our efforts to position the company to move to a senior U.S. stock market and improve the marketability and value of our shares," said Mr. Cao Wubo, Chairman and CEO of Genesis Pharmaceuticals Enterprises. "We expect this adjustment to our capital structure to bring the Company to the attention of new investors and make our shares more attractive to them."

Stockholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to exchange their shares. Stockholders of record who hold share certificates will receive a letter of transmittal requesting that they surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the reverse stock split. The Transfer Agent and Registrar for shares of GTEC's common stock is Computershare Trust Company, 350 Indiana St., #800, Golden, Colorado 80401, (303) 262-0600. They will act as the exchange agent for purposes of implementing the exchange of stock certificates.

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 tablets, capsules, and granules for both western and Chinese herbal- based medical drugs.

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 ability to introduce, manufacture and distribute new drugs. 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

Tel: +1-954-727-8435

Email: genesispharm@gmail.com

Web: http://www.genesis-china.net

CCG Investor Relations, Inc.

Mr. Crocker Coulson, President

Tel: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Web: http://www.ccgir.com


'/>"/>
SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. ThermoGenesis Corp. to Announce Fourth Quarter and Year End Results for Fiscal Year 2007 on September 12, 2007
2. ThermoGenesis Corp. Reports Fourth Quarter and Fiscal Year 2007 Results
3. ThermoGenesis Corp. to Present at 2007 Global Life Sciences Conference on Thursday, September 27, 2007
4. Cardiogenesis Corporation to Report Third Quarter 2007 Results on November 14th
5. ThermoGenesis Corp. to Announce First Quarter Fiscal 2008 Results on November 8, 2007
6. ThromboGenics and BioInvent Announce Publication of Exciting Data on a Novel Class of Angiogenesis Inhibitors in Cell
7. EntreMed Announces FDA Acceptance of IND Application for Aurora Kinase/Angiogenesis Inhibitor, ENMD-2076
8. ThermoGenesis Corp. to Announce Second Quarter Fiscal 2008 Results on February 6, 2008
9. ThermoGenesis Corp. Reports 48 Percent Growth in Second Quarter Revenues Year Over Year
10. Organogenesis Debuts Educational Campaign for Sufferers of Chronic Leg and Foot Ulcers
11. ThermoGenesis Corp. Announces Voluntary Recall of Selected Lots of AXP Bag Sets
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... June 23, 2016 , ... Supplyframe, the Industry Network ... Supplyframe Design Lab . Located in Pasadena, Calif., the Design Lab’s mission is ... projects are designed, built and brought to market. , The Design Lab is ...
(Date:6/23/2016)... NEWPORT BEACH, Calif. , June 23, 2016 /PRNewswire/ ... offering new biological discoveries to the medical community, has ... and co-founder Matthew Nunez . "We ... provide us with the capital we need to meet ... funding will essentially provide us the runway to complete ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... on quality, regulatory and technical consulting, provides a free webinar on ... on July 13, 2016 at 12pm CT at no charge. , Incomplete investigations ...
(Date:6/22/2016)... , June 22, 2016 Cell ... will allow them to produce up to one ... one lot within one week. These high-quality, consistent ... laboriously preparing cells and spend more time doing ... through a proprietary, high-volume manufacturing process that produces ...
Breaking Biology Technology:
(Date:6/20/2016)... , June 20, 2016 Securus Technologies, ... technology solutions for public safety, investigation, corrections and ... prisons involved, it has secured the final acceptance ... facilities for Managed Access Systems (MAS) installed. Furthermore, ... facilities to be installed by October, 2016. MAS ...
(Date:6/7/2016)... 7, 2016  Syngrafii Inc. and San Antonio ... that includes integrating Syngrafii,s patented LongPen™ eSignature "Wet" ... collaboration will result in greater convenience for SACU ... while maintaining existing document workflow and compliance requirements. ... Highlights: ...
(Date:6/1/2016)... , June 1, 2016 ... in Election Administration and Criminal Identification to Boost Global ... a recently released TechSci Research report, " Global Biometrics ... Region, Competition Forecast and Opportunities, 2011 - 2021", the ... billion by 2021, on account of growing security concerns ...
Breaking Biology News(10 mins):