SinoFresh HealthCare Board of Directors Approve Reverse Stock Split as Part of Corporate Restructuring
May 06 2011 - 3:27PM
Business Wire
SinoFresh® HealthCare, Inc., (Pink Sheets: SFSH.PK) announced
today that its Board of Directors has approved a 1 for 1000 reverse
stock split for its common stock only as part of a broad based plan
to restructure the business. The action effects shareholders of
record as of May 20, 2011 and is effective on May 23, 2011 or as
soon thereafter as FINRA has approved the action.
The Board of Directors and Senior Management that control a
majority of the voting shares described the decision as in the best
interest of the Company and will significantly reduce the on-going
expense and administrative burden. The action will also facilitate
the program adopted by the Company to provide a long term
resolution of certain issues that relate to the Company’s public
registration.
The Company is proceeding with auditing activity necessary to
bring the Company’s filings current. This restructuring activity
has no impact on the Company’s business operations. As stated in
previous public statements and Press Releases. Management will
continue to keep shareholders and the financial markets informed of
further actions and corporate developments as deemed advisable and
prudent.
As a result of the reverse split, all remaining fractional
shares will be dissolved. Shareholders may request new Common Share
Certificates upon surrender of old certificates to the Company’s
transfer agent, Madison Stock Transfer, 1688 East 16th Street,
Brooklyn, NY 11229.
SinoFresh HealthCare, Inc. is a publicly traded company
(PINKSHEETS:SFSH.PK) based in Venice, Florida, that manufactures
and distributes nasal, oral and topical antiseptic germ-killing
products. SinoFresh products are marketed and distributed globally
through a network of strategic wholesale and retail partners.
SinoFresh Healthcare, Inc’s, premier product, SinoFresh Antiseptic
Homeopathic Nasal spray has in laboratory tests shown effective
antiseptic capability against a variety of pathogens such as MRSA,
E-Coli, H1N1 and a broad range of other viruses, molds, fungi and
bacteria.
This press release includes forward-looking statements intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. Our
forward-looking statements express our current expectations or
forecasts of possible future results or events, including
projections of future performance, statements of management’s plans
and objectives, future contracts, and forecasts of trends and other
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and actual results could be affected by one or more factors, which
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