AMDL Receives a Significant Updated Appraisal of Its JJB China Production Facilities
February 04 2008 - 9:20AM
PR Newswire (US)
TUSTIN, Calif., Feb. 4 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), headquartered in Tustin, California, with operations in
Shenzhen, Jiangxi, and Jilin, China, through its wholly owned
subsidiary Jade Pharmaceutical Inc. (JPI), is an international
biopharma company that, together with Jade, engages in the
development, manufacture and marketing of proprietary
pharmaceutical, health care and diagnostic products. The Company
announced today that JPI's subsidiary JJB received an updated third
party valuation of its land use rights, plant and buildings that
have been now been reappraised for a total of approximately $21.8
million, significantly above the FY2007 book value of these assets.
Frank Zheng, Managing Director of Jade, stated that "This new
appraisal by the accounting firm of Jiangxi Zhong Cheng Accounting
Co., Ltd., is anticipated to provide JJB with the ability to
significantly expand its current credit facilities, including
gaining larger credit facilities under more favorable interest
rates." Mr. Gary Dreher, CEO of AMDL noted that "this new appraisal
is another illustration of the significant value that JPI's
business brings to AMDL in 2008 and beyond." About Jade
Pharmaceutical Inc.: Jade has access to the fastest growing
pharmaceutical and consumer market in the world: China. AMDL,
through its subsidiaries, Jade currently manufactures large volume
injection fluids, tablets and other related products, holding
licenses for 133 products. It also manufactures 107 generic, over
the counter and supplemental pharmaceutical products under
certified Chinese Good Manufacturing Practice (CGMP) standards.
About AMDL: More information about AMDL and its products can be
obtained at http://www.amdl.com/. Forward-Looking Statements This
news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
statements are subject to certain risks and uncertainties, and
actual circumstances, events or results may differ materially from
those projected in such forward-looking statements. The Company
cautions readers not to place undue reliance on any forward-looking
statements. The Company does not undertake, and specifically
disclaims any obligation, to update or revise such statements to
reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc. Mr. Paul Knopick AMDL Investor Relations Direct
Line: 949.707.5365 VoiceMail: 714.505.4460 DATASOURCE: AMDL, Inc.
CONTACT: AMDL Investor Relations, Mr. Paul Knopick,
+1-949-707-5365, VoiceMail: +1-714-505-4460, for AMDL, Inc. Web
site: http://www.amdl.com/
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