AMDL Announces Ratio of Reverse Stock Split
September 27 2006 - 10:00PM
PR Newswire (US)
TUSTIN, Calif., Sept. 27 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of tests for the early detection
of cancer and other serious diseases, announced today that the
exact ratio of the reverse split recently approved by its
shareholders will be one-for-five. This means that each five
outstanding shares will be converted into one share after the
reverse split takes effect at 12:01 a.m. EST on September 28, 2006.
The stockholders approved this proposal at a meeting on September
8, 2006. The closing of the acquisition of Jade Pharmaceutical,
Inc. in China and the reverse split are expected to enable AMDL to
remain in compliance with the applicable listing standards for the
American Stock Exchange. AMDL's stock will begin trading on the
AMEX on a split-adjusted basis on September 28, 2006. "This is an
excellent opportunity for AMDL, its employees and shareholders, to
look forward to a bright future. We appreciate the confidence that
our shareholders have displayed in management," said Gary Dreher,
AMDL CEO About AMDL AMDL, Inc. (AMEX:ADL), headquartered in Tustin,
California, is a theranostics company, involved in the detection
and treatment of the same disease, cancer. AMDL is the inventor,
developer and worldwide marketer through exclusive distribution
agreements of the DR-70(R) non-invasive cancer blood test, which
has demonstrated its ability to detect the presence in humans of up
to 14 cancers 84 percent of the time overall. In a study published
in the Journal of Immunoassay (1998, vol. 19, pp 63-72) DR-70(R)
was shown to detect at least 13 different types of cancer (lung,
breast, stomach, liver, colon, rectal, ovarian, esophageal,
cervical, trophoblastic, thyroid, malignant lymphoma, pancreatic)
although the sample size for 9 of the cancers was not statistically
significant. Clinical trials of DR-70(R) have been conducted in
Canada, China, Germany, Taiwan and Turkey. DR-70(R) can detect many
kinds of cancer using a single tube of blood, eliminating the need
for costly, multiple tests. AMDL also owns a combination immunogene
therapy technology that is a possible treatment for those already
diagnosed with cancer and could eventually be used as a vaccine to
protect patients known to be at risk because of a family history
for certain types of cancer. The combination therapy both builds
the body's immune system and destroys cancer cells. More
information about AMDL and its additional products can be obtained
at http://www.amdl.com/. Forward-Looking Statements The Company
intends that the statements in this press release that are not
historical constitute "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21 of the Securities Exchange Act of 1934, as amended
and are subject to numerous risks and uncertainties, including the
risks (i) that the transaction described may not be completed when
expected, or at all, (ii) the risk that the terms of the definitive
acquisition agreements may materially differ from that disclosed
herein, (iii) the risks related to the inability to obtain or meet
conditions imposed for, governmental and other approvals of the
transaction, including the approval by the stockholders of AMDL,
(iv) risks related to the uncertainty surrounding the transaction
and transactions of this type and (v) the costs related thereto. In
addition, these forward-looking statements are subject to the other
risks of AMDL's business, including, but not limited to, (a) AMDL's
failure to complete successfully the development of new or enhanced
products, (b) AMDL's future capital needs, (c) the lack of market
demand for any new or enhanced products that AMDL may develop, (d)
the lack of market acceptance of AMDL's products and its limited
revenues to date, (e) the success of competitive products, other
economic factors affecting AMDL and its markets, and (f) other
risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release in the event of new circumstances or unanticipated events
that may occur in the future. Contact: AMDL, Inc. Gary L. Dreher
President & CEO (714) 505-4460 DATASOURCE: AMDL, Inc. CONTACT:
Gary L. Dreher, President & CEO of AMDL, Inc., +1-714-505-4460
Web site: http://www.amdl.com/
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