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:11/26/2015)... , November 26, 2015 ... of the "Radioimmunoassay Market by Type ... Pharmaceutical Industry, Academics, Clinical Diagnostic Labs), Application ... Forecast to 2020" report to their ... announced the addition of the "Radioimmunoassay ...
(Date:11/25/2015)... , Nov. 25, 2015 ... addition of the "Global Brain Monitoring ... offering. --> ) has ... Brain Monitoring Devices Market 2015-2019" report ... and Markets ( ) has announced ...
(Date:11/25/2015)... Nov. 25, 2015  Amgen (NASDAQ: AMGN ) ... (BLA) with the United States ... a biosimilar candidate to Humira ® (adalimumab). Amgen ... submitted to the FDA and represents Amgen,s first BLA ... E. Harper , M.D., executive vice president of Research ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... 27, 2015 , ... Avid collector, Andrew Hawley from Vintage Rock Posters, announces ... This is one of Joplin's most famous and beautiful concert posters. The concert was ... in Ann Arbor. The According to Hawley, "It is hard to believe that Joplin's ...
(Date:11/26/2015)... MI (PRWEB) , ... November 26, 2015 , ... ... for substance abuse located in central Michigan, have come together on Thanksgiving Day ... specially produced video, available for viewing on the Serenity Point YouTube channel, patients ...
(Date:11/26/2015)... Toronto, ON and Cambridge, ON (PRWEB) , ... ... ... announced today the availability of a real-time eReferral system for diagnostic imaging in ... CTs, ultrasounds, X-rays, mammography, BMD and Nuclear Medicine tests directly from their electronic ...
(Date:11/26/2015)... ... ... The Catalent Applied Drug Delivery Institute today announced a ... selection in early phase drug development. The first of these is to be ... UK’s emerging life sciences companies, corporate partners, and investors, at Milton Park, Oxford, ...
(Date:11/26/2015)... San Antonio, TX (PRWEB) , ... November 26, 2015 , ... ... accomplishment! On November 19, 2015, our surgeons performed their 6,000th free flap breast ... Ledoux , “We wake up every day excited to rebuild lives and it’s an ...
Breaking Medicine News(10 mins):