Auriga Laboratories Announces Trading Commences Today Under New Stock Ticker Symbol, Following 1-for-15 Share Split; Company Also Completes Reincorporation and Name Change from Multi Link Telecommunications, with New Cusip Number.
At a special meeting of the Company's shareholders held on July 8, 2006, a majority of the Company's shareholders approved, among other items, the name change, reincorporation and reverse stock split.
Also effective today, Auriga's new Cusip number is 05155L 10 5.
Prior to the reverse split the Company had approximately 532 million shares of common stock outstanding (including shares of common stock then issuable upon conversion of the Company's preferred stock, all of which shares automatically converted as a result of the reverse split), and, after taking into account the 1-for-15 reverse split, currently has approximately 35.5 million shares of common stock outstanding.
Commenting on these transactions, Mr. Philip Pesin, the Company's Chief Executive Officer, stated, "We are pleased to have finalized the change of our name and excited to commence trading under our new ticker symbol, which is a more accurate reflection of the name of our operating company. We also hope that the reverse stock split will facilitate trading in our shares."
About Auriga Laboratories
Auriga Laboratories is a specialty pharmaceutical company whose distinctive business model combines powerful drug and product development strategies with unique and proven sales and marketing operations. Two divisions support Company's mission. Auriga Pharmaceuticals, the sales and marketing division, is led by executives who are leaders in commercializing new products. Auriga Development, the development team, has deep expertise in the use of material science and new drug delivery technologies to produce improved formulations of already-approved drugs and to use these drugs for existing and new clinical indications. The Company acquires valuable, established brand names that are no longer a strategic focus for large pharmaceutical companies and capitalize on marketplace opportunities through our expertise in the development of new applications and/or enhanced clinical benefits. Auriga's current products include the proven Extendryl(R) family of pharmaceutical products, indicated for treatment and relief of a range of acute respiratory diseases. Auriga plans to become a fully integrated pharmaceutical company by acquiring its own manufacturing and development capabilities. Moving forward, the Company will seek to acquire and/or in-license additional products and technologies to further grow revenues. For more information, please visit: www.aurigalabs.com. For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/auriga/. To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/auriga/quote.html.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our regulatory status and/or regulatory compliance of our products, our ability to secure additional financing, our ability to sustain market acceptance for our products, our dependence on collaborators, our ability to find and execute strategic transactions, or potential exposure to litigation, our exposure to product liability claims, and our prices, future revenues and income and cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.
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|Date:||Jul 20, 2006|
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