Navigation Links
Lotus Pharmaceuticals Announces Approval of Reverse Stock Split
Date:12/31/2010

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: shen@lotuspharma.com Web: http://www.lotuspharma.comInvestor Relations:Dave Gentry, PresidentRedChip Companies, Inc.Tel: +1-800-733-2447, Ext. 104Email: info@redchip.comWeb: http://www.redchip.com
'/>"/>

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:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016 Any dentist who has ... of the current process. Many of them do not even ... technical difficulties and high laboratory costs involved. And those who ... it at such a high cost that the majority of ... Dr. Parsa Zadeh , founder of Dental Evolutions ...
(Date:6/23/2016)... 23, 2016  In a startling report released today, National ... by lacking a comprehensive, proven plan to eliminate prescription opioid overdoses. ... of how states are tackling the worst drug crisis in recorded ... – Kentucky , New Mexico ... . Of the 28 failing states, three – Michigan ...
(Date:6/23/2016)... 2016 Research and Markets has announced ... Analysis 2016 - Forecast to 2022" report to their ... contains up to date financial data derived from varied research ... trends with potential impact on the market during the next ... which comprises of sub markets, regional and country level analysis. ...
Breaking Medicine Technology:
(Date:6/24/2016)... Texas (PRWEB) , ... June 24, 2016 , ... ... International Conference and Scientific Sessions in Dallas that it will receive two significant ... of the grants came as PHA marked its 25th anniversary by recognizing patients, ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... now offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with ... Damon brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a ...
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain ... for a minimum wage raise to $12 an hour by 2020 and then adjusting it ... the lost value of the minimum wage, assure the wage floor does not erode again, ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its first-ever ... Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding work ... Practice and Pediatric Emergency Medicine Practice. , “With this award, we recognize ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Grove Investment Group (TGIG), has initiated cultivation and processing operations at its production ... and Pahrump, Nevada. , Puradigm is the manufacturer of a complete system of ...
Breaking Medicine News(10 mins):