Bodisen Biotech, Inc. Receives Two Year Income Tax Exemption Status from the Chinese Government, Company Will Report Record 3rd Quarter Earnings in the First Week of November 2005.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Bodisen Biotech, Inc., listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (Amex: BBC BBC in full British Broadcasting Corp. Publicly financed broadcasting system in Britain. A private company at its founding in 1922, it was replaced by a public corporation under royal charter in 1927. ; website: www.bodisen.com) announced today that it has received another two years of income tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various status from the Chinese tax authorities. Bodisen will continue to be exempt from income tax through the end of 2007. At the end of 2007, the company will apply again to potentially qualify for an additional two year income tax exemption. In order to provide incentives for businesses serving China's approximately 900 million farmers, the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
Ms. Qiong Wang, Bodisen's Chairman 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. commented: "The agricultural sector includes the largest consumer base in China, its 900 million farmers. China is the world's largest importer of grains and fertilizer products. In order to reduce dependency on foreign imports, the Chinese government makes it a high priority to support the agricultural sector and businesses that serve this large consumer base. Bodisen has enjoyed tremendous growth in recent years in such a favorable environment. Our success is demonstrated through our financial performance, and we believe we will continue to benefit from such a favorable market environment for many years to come." Bodisen will report record 3rd quarter earnings for the quarter ended September 30 in the first week of November 2005. About Bodisen Biotech, Inc. A Delaware company, Bodisen is headquartered in Shaanxi, China's agricultural hub. The Bodisen brand is a highly recognized fertilizer brand in China. Its environmentally friendly "green" products support the mandate of the Chinese government to increase crop yields for the purpose of decreasing China's dependency on food imports. Among China's population of 1.3 billion, approximately 900 million are farmers whose incomes depend on their crop yields. With over 60 products and approximately 600 nationwide distribution centers and growing, Bodisen has experienced rapid growth in the recent years. Bodisen's products are based on proprietary agricultural technology jointly developed by company scientists and university laboratories. These products address grains, vegetables, fruit crops and have been proven to increase crop yields by 10% to 35% while 100% environmentally friendly. 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. Statement This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the current expectations or beliefs of Bodisen Biotech, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. |
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