DURHAM, N.C., Sept. 9 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) announced that the company's proxy, which is being mailed today, asks shareholders to approve a 1-for-15 reverse stock split at the annual meeting on Oct. 19, 2009.
"At last years' general annual meeting we explained the problems of being listed over the counter on the bulletin board and we promised to seek a listing change as soon as we can qualify," said Chris Stern, company chairman and CEO. "We are working toward meeting the listing standards of a major exchange. In that regard we are proposing a reverse split of our outstanding common stock in an effort to meet the minimum stock price qualification requirement of a major stock exchange."
At the meeting, shareholders also will vote on the election of six directors. The current directors have been nominated by the Board for re-election.
The proxy is being mailed today to shareholders of record on Sept. 4, 2009. A copy of the proxy is available on the Investor Relations page of the company website at www.oxybiomed.com.
About Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine(TM). The company has under development a perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product (Oxycyte(R)) and has out-licensed an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs as well as medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including traumatic brain injury, sickle cell crisis, trauma, wound care, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes wounds and ulcers, and cosmetic applications. More information is available at www.oxybiomed.com.
|SOURCE Oxygen Biotherapeutics, Inc.|
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