MOORESVILLE, N.C., March 19 /PRNewswire-FirstCall/ -- Anpath Group, Inc. (OTC Bulletin Board : ANPG), reported today that it plans to seek shareholder approval for a reverse split of its Common Stock, which it currently anticipates will be in the range of a 1 for 7 split. If the reverse stock split is approved, each holder of Anpath's Common Stock on the date of effectiveness of the reverse stock split will be entitled to receive one share of new Common Stock in exchange for every seven shares of old Common Stock held by such person. The reverse stock split will be affected by filing a Certificate of Amendment with the Secretary of State of Delaware.
President & CEO of Anpath Group, Inc., J. Lloyd Breedlove stated, "We believe that reducing the number of outstanding shares will make our capital structure more attractive to potential investors and provide us with greater flexibility in structuring financing and pursuing other corporate development opportunities. Also, we believe that a reduction in the number of outstanding shares may make our business more attractive to potential merger, joint venture and acquisition candidates."
"Further, we believe that our current low stock price negatively affects the marketability of our Common Stock and our ability to raise additional capital," Mr. Breedlove continued. "Although we cannot guarantee it, we hope that the reverse split will result in an increase in the market price of our common stock and encourage interest in our stock and possibly promote greater liquidity for our shareholders."
About Anpath Group, Incorporated:
Anpath Group, Inc. (Anpath), through its wholly-owned subsidiary EnviroSystems, Inc., produces cleaning and disinfecting products that it believes will help prevent the spread of infectious microorganisms while minimizing the harmful effects to people, equipment or the environment. Visit www.anpathgroup.com for more information.
EnviroSystems, Inc. is focused on safe infection prevention technologies that the company believes will position the company in the forefront of the industry at a time when there is rapidly growing awareness of the critical need to prevent biological risks -- both natural and man-made. Visit www.envirosi.com for more information.
Forward Looking Statements:
This release contains forward-looking statements, which reflect expectation or belief by Anpath Group, Inc. concerning future events that involve risks and uncertainties. Anpath Group can give no assurance that the expectations reflected in forward looking statements will prove correct and various factors could cause results to differ materially from Anpath Group expectations, including, but not limited to EPA and state registration of Anpath Group's products, Anpath Group's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development of its technology, the risk that products may not result from development activities, protection of its intellectual property, need for regulatory approvals, and other factors discussed in Anpath Group's filings with the Securities and Exchange Commission. Forward-looking statements are qualified in their entirety by the above cautionary statement. Anpath Group assumes no duty to update its outlook or other forward-looking statements as of any future date.
|SOURCE Anpath Group, Inc.|
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