Navigation Links
Lotus Pharmaceuticals Announces Approval of Reverse Stock Split

BEIJING, Dec. 31, 2010 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), announced today that the Company will effect a two-for-one reverse split of its common stock in order to meet minimum share price requirements in connection with its application to a national U.S. securities exchange. In connection with the reverse split, the number of authorized shares of the Company's common stock will be reduced from 200,000,000 to 100,000,000 and the number of shares outstanding will be reduced from 53,399,407 to approximately 26,699,704.

The reverse split will take effect at the open of business today, December 31, 2010, at which time every two (2) shares of Lotus' common stock issued and outstanding will be converted into one (1) share of common stock. The shares will commence trading today on the OTC Bulletin Board on a post-reverse split basis under the temporary ticker symbol "LTUSD." After 20 business days, the "D" will be removed and the stock will resume trading under the ticker symbol "LTUS." No fractional common shares will be issued as a result of the reverse split.

Mr. Zhongyi Liu, Lotus' Chairman and Chief Executive Officer, stated, "We are pleased to announce this reverse split, as it is an important step toward our goal of a national securities exchange listing. We believe that we initiated the process at an appropriate time and that it is in the best interests of our stockholders and the Company's future growth. With the reverse split approved, we are one step closer to completing the listing process."

About Lotus Pharmaceuticals, Inc. Lotus Pharmaceuticals, Inc. is a fast-growing, profitable developer and producer of drugs and a licensed national seller of pharmaceutical items in the People's Republic of China (PRC). Lotus operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development is focused on the treatment of cerebro-cardiovascular diseases, asthma and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.

Information Regarding Forward-Looking StatementsExcept for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.Contacts:At the Company:Xing Shen, Ph.D.VP of Corporate DevelopmentLotus Pharmaceuticals, Inc.Ph: 415-690-7688Email: Web: http://www.lotuspharma.comInvestor Relations:Dave Gentry, PresidentRedChip Companies, Inc.Tel: +1-800-733-2447, Ext. 104Email: info@redchip.comWeb:

SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Lotus Pharmaceuticals Announces Change of Directors
2. Lotus Pharmaceuticals Announces Update on Land in Inner Mongolia
3. Lotus Pharmaceuticals Announces Conference Call to Discuss Third Quarter 2010 Financial Results
4. Lotus Pharmaceuticals Preparing to Apply for National Exchange Listing
5. Lotus Pharmaceuticals Retains Sichenzia Ross Friedman Ference LLP as General Legal Counsel
6. Lotus Pharmaceuticals Announces Two Senior Management Appointments
7. Lotus Pharmaceuticals Announces Engagement of RedChip Companies to Lead Public and Investor Relations Efforts
8. Lotus Pharmaceuticals Enter R-Bambuterol(R) Clinical Trial I
9. Lotus Pharmaceuticals Reports Strong Second Quarter 2010 Financial Results
10. Lotus Completed R-Bambuterols Pilot Scale Production for Clinical Trials
11. Lotus Pharmaceuticals Terminates SEDA
Post Your Comments:
(Date:9/18/2017)... 2017 EpiVax, Inc. ("EpiVax") a ... immune engineering, today announced a new NIH-funded ... ... and presents a challenge for traditional flu ... be effective. Using state-of-the-art bioinformatics and molecular modeling methods, ...
(Date:9/12/2017)... , Sept. 12, 2017   EcoVadis , the leading platform ... published the first annual edition of its Global CSR Risk and Performance ... evaluated by EcoVadis, based on Scorecard Ratings that analyzed nearly 800,000 data ... ... ...
(Date:9/12/2017)... Sept. 12, 2017  ValGenesis Inc., the global ... is pleased to announce the appointment of Dr. ... its Board of Directors and Chairman of Advisory ... life science companies to manage their entire validation ... paper in this process. Furthermore, ValGenesis VLMS enables ...
Breaking Medicine Technology:
(Date:10/13/2017)... Little Rock, AR (PRWEB) , ... October 13, ... ... owned firm with locations throughout Arkansas that offers insurance and financial preparation services, ... to benefit the Rock City Rescue organization. , Rock City Rescue is a ...
(Date:10/13/2017)... PITTSBURGH, Pa. (PRWEB) , ... October 13, 2017 , ... ... the dark poses a problem. Fortunately, an inventor from Austin, Texas, has identified a ... access to medication in darkness or restricted lighting. As such, it eliminates the need ...
(Date:10/13/2017)... ... October 13, 2017 , ... The International Association of Eating ... excellence for the field of eating disorders, announces the opening of early registration ... Orlando, Florida at the Omni Resort at ChampionsGate. , The annual ...
(Date:10/13/2017)... ... October 13, 2017 , ... Southern ... and Jennifer Huggins, PharmD ’17, along with clinical associate professor Janice Frueh, ... cardiovascular diseases during the 15th Annual Women’s Health Conference. The SIU School ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Apple ... care services, staged a mock evacuation of the facility as part of a disaster ... Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as the ...
Breaking Medicine News(10 mins):