LITTLE FALLS, N.J., Feb. 2, 2011 /PRNewswire/ -- Regenicin, Inc.(OTC Bulletin Board: RGIN) a biotechnology company specializing in the development of regenerative cell therapies to restore the health of damaged tissues and organs announced today that its Chairman and CEO, Randall McCoy is currently working with the board on a new Corporate incentive plan designed to encourage and reward the Company's officers, employees and consultants working with Regenicin. As a show of his own commitment to the Company's growth and stability, Mr. McCoy has pledged to return 22 million of his own personal shares back into Treasury to support the program -- over 26% of the currently issued and outstanding shares of Regenicin."
"I really believe in the future success of this Company and want all the people who are making it happen to benefit with me," said Mr. McCoy regarding the new incentive program. "The best way I know how to do that without diluting the existing shareholders is to contribute my own shares to the program. While this will reduce my holdings by nearly half, I believe it will enhance the overall value of the company creating a win, win for all the shareholders."
When asked about the recent adverse market activity, Mr. McCoy commented that it seemed particularly odd in view of the fact that the Company had incurred no fundamental change or negative developments. "The company remains on track and committed to its original business plan and creating value for the company and its shareholders."
Regenicin, Inc. (www.regenicin.com) is a development stage biotechnology company. Regenicin is a publicly traded company, with headquarters in New Jersey. Additional information can be found in the company's filings with the Securities and Exchange Commission located at
|SOURCE Regenicin, Inc.|
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