AlphaRx Announces Share Consolidation.Business Editors & Health/Medical Writers RICHMOND HILL Richmond Hill may refer to: Places:
AlphaRx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AHRX) announced today that it will effectuate a 1-for-5 share consolidation of the Company's outstanding common stock. The share consolidation is intended to enable the Company to increase its marketability to institutional investors. "The share consolidation is part of a series of strategic actions we are taking to strengthen our financial position for future growth and development," stated Michael M. Lee, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AlphaRx. "Looking ahead, we will keep business focused on revenue growth, profit generation and operational improvements. We have a very strong product pipeline and are well positioned to grow the Company geographically and explore potential acquisitions that will strengthen our Company and build additional value for our shareholders. We have confidence in our business plan and the strength of our products, technology and markets, and we expect that fiscal 2002 will be a year of improved performance for our Company," Mr. Lee added. Upon the effectiveness of the share consolidation, five shares of common stock will be converted and reclassified as one share of post-consolidation common stock, and each existing stock certificate will represent one-fifth the number of shares shown thereon. The Company's new common stock will begin trading under the symbol ALRX when the market opens on Thursday, March 21, 2002. About AlphaRx AlphaRx Inc. is an emerging pharmaceutical company that develops and markets innovative therapeutic products based on its proprietary Bioadhesive Colloidal colloidal of the nature of a colloid. colloidal bath a bath containing gelatin, bran, starch or similar substances, to relieve skin irritation and pruritus. Dispersion (BCD (Binary Coded Decimal) The storage of numbers in which each decimal digit is converted into binary and is stored in a single character or byte. For example, a 12-digit number would take 12 bytes. See binary numbers. ) drug delivery technology. AlphaRx's BCD technology improves the bioavailability bioavailability /bio·avail·a·bil·i·ty/ (bi?o-ah-val?ah-bil´i-te) the degree to which a drug or other substance becomes available to the target tissue after administration. bi·o·a·vail·a·bil·i·ty n. and bioperformance of poorly water-soluble drugs to provide enhanced medical benefits and competitive commercial advantages. For additional information, please visit our web-site at www.AlphaRx.com. FORWARD LOOKING STATEMENTS: This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company. |
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