Navigation Links
China Yongxin Pharmaceuticals Announces 1-for-12 Reverse Stock Split
Date:5/26/2010

CHANGCHUN, China and LOS ANGELES, May 26 /PRNewswire-Asia/ -- China Yongxin Pharmaceuticals Inc. (OTC Bulletin Board: CYXND) ("the Company"), one of the leading health products distribution and retail sales companies in China, today announced that the Company has filed a Certificate of Amendment to its Articles of Incorporation with the State of Delaware's Secretary of State ("Certificate of Amendment") to effect a reverse stock split with a ratio of 1-for-12, whereby each twelve (12) issued and outstanding shares of the common stock of the Company, par value $0.001 per share ("Common Stock") will be combined into one (1) share of Common Stock ("Reverse Split") with an effective date of May 24, 2010. As described more fully in the Definitive Information Statement filed by the Company with the Securities and Exchange Commission ("SEC") on February 22, 2010, a reverse split of the common stock, with a ratio within a range of 1-for-10 and 1-for-15 (the "Reverse Split Range") and with the exact ratio within the Reverse Split Range to be determined by the Company's Board of Directors (the "Board"), was adopted and approved by written consent of the board of directors and the requisite shareholders on February 8, 2010. On April 28, 2010, the Board adopted and approved a 1-for-12 reverse split ratio within the Reverse Split Range.

Effective May 26, 2010, the Company's common stock commenced trading under a new OTC Bulletin Board trading symbol, "CYXND". The new trading symbol was assigned by Financial Industry Regulatory Authority ("FINRA") in connection with the approval of the Reverse Split. The Company's trading symbol will revert to "CYXN" within 20 business days. The Company's common stock, on a split-adjusted basis, has a new CUSIP number of 16946Y 207. Following the Reverse Split, the Company has approximately 5,269,952 shares of Common Stock issued and outstanding.

The Reverse Split was effectuated simultaneously for all of the Company's outstanding common stock and the exchange ratio is the same for all shares of outstanding common stock. The Reverse Split will affect all of the Company's stockholders uniformly and will not affect any stockholder's relative percentage ownership interests in the Company, except to the extent that the Reverse Split results in any of the stockholders receiving a fractional share. Stockholders and holders of options and warrants holding fractional shares will have their shares rounded up to the nearest whole number. Common stock issued pursuant to the Reverse Split will remain fully paid and non-assessable.

Mr. Yongxin Liu, Chairman and Chief Executive Officer of the Company commented, "As we continue to position the Company to be one of China's leaders in health care sales and distribution, it will be important to have the appropriate capital structure and investor base to further that growth. The Reverse Split, which is one of the necessary criteria for listing on NASDAQ, is part of our continuing investor relations efforts to attract institutional investors to our Company."

For further information regarding the Reverse Split, please refer to the Company's Current Report on Form 8-K filed with the SEC on May 25, 2010.

About China Yongxin Pharmaceuticals Inc.

Founded in 1993, China Yongxin Pharmaceuticals Inc. is one of the leading retailers and distributors of pharmaceuticals, medical equipment, other medical-related products, health products including nutritional and dietary supplements, and cosmetics in Northeastern China. The Company's retail operations began in 2004, and in 2005, it gained franchise rights from one of the world's largest drug chains for China's Jilin Province. The Company had become one of the fastest growing drug retailers in China through its retail chain of 99 drug outlets as well as its wholesale distribution in Northeastern China. For more information about China Yongxin Pharmaceuticals Inc., please visit http://www.yongxinchina.com .

Forward Looking Statements

This news release contains certain "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," "project", "expect" and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. China Yongxin Pharmaceuticals Inc. does not assume any duty to publicly update or revise the material contained herein.

    For more information, please contact:

    CORPORATE
    China Yongxin Pharmaceuticals Inc.
     Sam Liu, COO
     Tel:   +1-626-581-9098
     Email: info@yongxinchina.com

    INVESTOR RELATIONS
    Strategic Growth International, Inc.
     Richard Cooper / Linda Ni
     Tel:   +1-212-838-1444
     Email: rcooper@sgi-ir.com ; lni@sgi-ir.com


'/>"/>
SOURCE China Yongxin Pharmaceuticals Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Mindray Medical to Present at J.P. Morgan China Conference 2010
2. China Yongxin Pharmaceuticals Reports First Quarter 2010 Financial Results
3. Renhuang Pharmaceuticals Exhibits All-Natural Products at the 107th China Import and Export Fair
4. China Ruitai International Holdings Co., Ltd. Reports Results for the First Quarter 2010
5. China Sky One Medical Announces First Quarter 2010 Results
6. Dehaier Medical Systems Announces New Exclusive China Distribution Agreement with Welch Allyn, Further Broadening Companys Product Lines
7. China Biologic Products Announces First Quarter 2010 Results
8. China Sky One Medicals CEO Receives Award For "Leadership Excellence In Innovation"
9. China Sky One Medical to Attend Investment Conferences in May
10. China Biologic Products to Build Two New Plasma Stations in Shandong Province
11. China Nepstar Chain Drugstore Reschedules First Quarter 2010 Results to May 18
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... YORK , Jan. 19, 2017 This ... the current and future scenario of the global market. ... rising opioid consumption. Severe chronic constipation is a major ... to traditional laxatives. Hence, novel targeted therapy has been ... OIC sufferers, launch of targeted medicines, and growing awareness ...
(Date:1/19/2017)... 19, 2017  Stealth BioTherapeutics Inc. ( Stealth ), ... dysfunction, today announced new additions to its senior leadership ... Medical Officer, and Daniel Geffken as interim ... Jim Carr , Pharm.D. has been promoted to Chief ... to welcome Doug and Daniel to our management team, ...
(Date:1/19/2017)... 2017 According to a study conducted by ... to witness a CAGR of 6.5% during the forecast period 2016-2024. ... continue to be the leading market for cryotherapy globally during the ... Highlights ... ensuring affordable and adequate supply of gas in order to provide ...
Breaking Medicine Technology:
(Date:1/20/2017)... ... January 20, 2017 , ... ... enhance people’s everyday lives, recently attended the January ECRM Trade Show in Hilton ... is known for its large range of supplements that keep the body functioning ...
(Date:1/20/2017)... ... January 20, 2017 , ... “Mary Magdalene: Grace is Greater than Sin”: ... who witnessed Jesus Christ firsthand. “Mary Magdalene: Grace is Greater than Sin” is the ... an educator interacting with countless women who had little knowledge of the female characters ...
(Date:1/20/2017)... ... January 20, 2017 , ... “Christmas in Suffolk”: ... published author, Sara Seymour, who lives in Lafayette, Indiana where she works in a ... iced coffees and writes. , Published by Christian Faith Publishing, Sara Seymour’s new book ...
(Date:1/19/2017)... (PRWEB) , ... January 20, 2017 , ... Today, the ... to participate in four of CMS’s Alternative Payment Models (APMs) in 2017. Clinicians who ... patients. APMs are an important part of the Administration’s effort to build a ...
(Date:1/19/2017)... , ... January 19, 2017 , ... This month, the ... that the name of their drug rehab center in Delray Beach, Florida has been ... that not only stars such as Philip Seymour Hoffman and Chris Farley are dying ...
Breaking Medicine News(10 mins):