Bodisen Biotech Inc. Issues Statement Regarding Recent Events.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., (AMEX AMEX See: American Stock Exchange :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. ; LSE LSE - Language Sensitive Editor :BODI BODI Business Objects Data Integrator BODI Business of Diving Institute ; website: www.bodisen.com) the first China based environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] bio fertilizer company listed on a US stock exchange, and dually listed in London, today issued a statement regarding recent events involving the posting of unauthorized and inaccurate information on a company-owned website. On April 15, 2006, unauthorized information was posted by an employee on a Bodisen-owned website that contained two false news pieces stating that (1) the company's 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. and Chairman Karen Qiong Wang was seriously ill A patient is seriously ill when his or her illness is of such severity that there is cause for immediate concern but there is no imminent danger to life. See also very seriously ill. and resigning from her position and (2) that road construction in front of the company's older facility would seriously impact the company's 2006 revenue and earnings guidance. The company has taken action to prevent unauthorized information from being disseminated in the future. Subsequently, this erroneous information was used by an equity analyst in a report issued on the company. Following the posting of this erroneous information, the company has disclosed the following factual statements: --On April 18, 2006, the company stated that CEO and Chairman Karen Qiong Wang was taking temporary sick leave to undergo a routine medical check-up procedure, following surgery that was performed at the end of 2005. Subsequently and as stated in a news release issued on April 26, 2006, Ms. Wang has returned to her duty after a routine medical check up. At no time preceding or during her temporary medical leave was there any discussion of Ms. Wang resigning from her position. Ms. Wang is the CEO and Chairman of Bodisen Biotech, Inc. --On April 18, 2006, the company issued a news release stating that road construction had begun in front of the main entrance to the company's older production facility and was expected to last for several months. The company also stated that construction was not expected to affect Bodisen's product inventory and shipment operations and reaffirmed its 2006 sales and earnings guidance. Again, the company expects no material impact to its financial performance as a result of the current road construction. The erroneous information has been removed from the website. Bodisen's official website is www.bodisen.com, which contains the latest information on the company. 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 Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
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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