Auriga Laboratories Provides Update on Recent Restructuring; Company Reports 35.5 Million Shares Common Stock Outstanding Following 1 for 15 Reverse Split, New Cusip Number.
Following the reincorporation and reverse stock split, the Company has approximately 35.5 million shares of common stock outstanding.
At the shareholder meeting held on July 8, 2006, the company's shareholders approved a 1 for 15 reverse stock split. The 1 for 15 reverse split applies to all share lots except those totaling between 100 and 1,500 shares, as of May 31, 2006, the record date.
Because the costs of processing odd sized share lots (those below 100 shares) are generally higher than those associated with transactions of 100 shares or more, the shareholders also authorized the Company's Board of Directors the discretion to implement the share split as follows:
--100 to 1,500 shares: Shareholders holding pre-split lots of 100 to 1,500 shares as of May 31, 2006, the record date, would all receive 100 shares after the reverse split.
--More than 1,500 shares: Shareholders holding more than 1,500 shares would receive a total number of post-split shares in accordance with the 1 for 15 reverse split ratio, with fractional shares being rounded up to the nearest whole number. To determine post-split share holdings, divide the pre-split total by 15.
--Less than 100 shares: Shareholders with less than 100 shares would also receive a total number of post-split shares in accordance with the 1 for 15 reverse split ratio, with fractional shares being rounded up to the nearest whole number. To determine post-split share holdings, divide the pre-split total by 15.
The shareholders also approved the reincorporation of the Company in Delaware. Both the reverse stock split and reincorporation were effective as of July 11, 2006.
Auriga's new Cusip number is 05155L 10 5.
Auriga Laboratories(TM) Reincorporation and New Capitalization Information
At the shareholder meeting held on July 8, 2006, the shareholders of the company formerly known as Multi Link Telecommunications, Inc. (formerly OTCBB:MLNK) approved a 1-for-15 reverse split of its outstanding stock, the reincorporation of the company in Delaware and the re-naming of the company to Auriga Laboratories, Inc. The 1-for-15 reverse split applies to all share lots except those totaling between 100 and 1,500 shares, as of May 31, 2006, the record date. Shareholders holding pre-split lots of 100 to 1,500 shares as of the record date would all receive 100 shares after the reverse split. These corporate actions were effective July 11, 2006. Auriga Laboratories, Inc. is now traded on the Over-the-Counter Bulletin Board under the ticker symbol ARGA and has approximately 35.5M shares outstanding.
About Auriga Laboratories (TM)
Auriga Laboratories(TM) is a specialty pharmaceutical company capitalizing on high-revenue markets and opportunities in the pharmaceutical industry through aggressive sales, integrated marketing and advanced in-house drug development capabilities. The Company's high-growth business model combines acquisition of proven brand names, powerful product development strategies and rapidly-growing national sales teams and marketing operations. Auriga acquires valuable brand portfolios that are no longer a strategic focus for large pharmaceutical companies, then capitalizes on untapped marketplace opportunities through brand extension and directed sales/marketing programs. The Company's drug-development pipeline leverages novel material science and advanced drug delivery technologies to produce improved formulations of successful drug portfolio brands to further expand markets, sales and clinical indications for proven, successful products. Auriga's exclusive product portfolio currently includes the 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 read or download Auriga's Investor Fact Sheet, please visit http://www.trilogy-capital.com/tcp/auriga/factsheet.html. 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 the 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:||Aug 7, 2006|
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