Company to be re-named American CryoStem Corporation
RED BANK, N.J., Feb. 6 /PRNewswire-FirstCall/ -- Advanced Wound Technologies Mid-Atlantic, Inc. (AWTM.PK) announced today that it has received approval from NASDAQ to changed its name to American CryoStem Corporation (AMCY) and complete a one for 200 reverse split of its common stock.
American CryoStem Corporation plans to focus on the business of collecting, processing and long-term storage of stem cells. The Company believes these services will allow individuals to privately preserve their stem cells for potential future use in cell therapy. To effectuate its business plan the Company will need to raise additional capital.
The effective date for the reverse stock split was close of business Monday, February 2, 2009. As a result of the reverse stock split, every 200 shares of the Company's common stock that were issued and outstanding as of market close on February 2, 2009, were automatically combined into one issued and outstanding new share of Common Stock. All fractional shares created as a result of the reverse stock split will round up to a full share of stock.
The Company's shares will trade on the Pink Sheets under the NEW symbol "AMCY."
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
|SOURCE American CryoStem Corporation|
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