Cybear Group Common Stock To Be Reverse Split 1-For-4.Business Editors & Health/Medical Writers FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BW HealthWire)--July 27, 2001 Andrx Corporation today announced that, subject to approval by Andrx Corporation stockholders, it intends to implement a 1-for-4 reverse stock split for its Cybear Group Common Stock (Nasdaq:CYBA CYBA Charter Yacht Broker Association CYBA Conejo Youth Basketball Association (Conejo Valley, California) CYBA California Yacht Brokers Association CYBA Cybertron Army CYBA Columbia Yacht Brokers Association ), effective at the opening of trading on Tuesday, July 31, 2001. Stockholder approval of this reverse stock split is expected to be received at Andrx's July 30, 2001 Annual Meeting. Upon effectiveness, each four shares of the existing Cybear Group Common Stock will be exchanged for one share of new Cybear Group Common Stock. Following this reverse stock split, Cybear Group Common Stock is expected to be in compliance with the continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of Nasdaq. For twenty trading days beginning July 31, 2001 and ending August 27, 2001, the Cybear Group Common Stock will trade under the symbol "CYBAD." Beginning August 28, 2001 and thereafter, the Cybear Group Common Stock will trade under its current symbol "CYBA." Cybear common stock is a class of common stock of Andrx Corporation but is designed to reflect Cybear Group's performance. Holders of Cybear common stock have no specific rights to the assets of Cybear Group. Andrx Corporation continues to hold title to all of the Cybear Group assets and is responsible for all of its liabilities, regardless of how it allocates assets and liabilities among the classes of stock for financial statement presentation purposes. Holders of Cybear common stock are therefore subject to the risks of investing in the businesses, assets and liabilities of Andrx Corporation as a whole. For instance, the assets devoted to each class of stock are subject to company-wide claims of creditors, product liability plaintiffs and stockholder 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. . Andrx Corporation - Cybear common stock tracks the business of the Cybear Group. Headquartered in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. , the Cybear Group's products and technology are designed to allow the Internet to be used to improve the efficiency of clinical, administrative and communications tasks in the healthcare industry. The Cybear Group uses multiple networks, including its own secure private network, to provide access to the Internet, email, and productivity applications that are available on a transaction or subscription basis to physicians, physician organizations and hospitals. Product offerings also include a variety of healthcare products available to physicians through the Internet, online applications such as the Physicians' Online Web portal See portal. , business tools for hospital messaging, lab orders and results, streamlined purchasing, prescription writing, claims processing, eligibility verification, formulary-compliance, credentialing, and physician-patient communications via the Internet. Through Cybearclub, Cybear Group's joint venture with Andrx, Cybear Group distributes healthcare products to physicians through the Internet. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (statements which are not historical facts) in this release are made 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 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. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "to," "may", "will", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties. Cybear common stock is a class of common stock of Andrx Corporation, therefore Cybear Group stockholders are subject to the risks and uncertainties described in Andrx Corporation's filings with the U.S. Securities and Exchange Commission, including Andrx Corporation's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2001. This release, and additional information about Cybear Group and Andrx Corporation, is also available on the Internet at: http://www.cybear.com and http://www.andrx.com. |
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