Pharmacy News EU

www.Standoutstocks.com: Stocks That Stand Out For Apr. 1st, 2010 Are Apr 01, 2010 – Li3 Energy, Inc. (OTC Bulletin Board: LIEG), March 31, 2010 – Everock, Inc. (Pink Sheets: EVRN), April 1, 2010 – Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM), April 1, 2010 – Cord Blood America, Inc. (OTC Bulletin Board: CBAI), Mar 31, 2010 – International Stem Cell Corporation (OTC Bulletin Board: ISCO)
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Li3 Energy, Inc. Commences Exploration Program on Its Puna Plateau Lithium Properties in Argentina
LIMA, PERU, Apr 01, 2010 Li3 Energy, Inc. (OTC Bulletin Board: LIEG) ("Li3 Energy" or the "Company") is pleased to announce the mobilization of field crews in preparation for the launch of the 2010 exploration program on the Company’s Puna Lithium Properties early next week. The program is designed to test the lithium brine production potential of Li3 Energy’s salar (dry salt lake) properties on the Puna Plateau of northern Argentina.
The Puna Lithium Properties are poised to provide the Company with a foundation for growth towards commercial lithium production. Definitive option agreements have been signed confirming Li3 Energy’s right to acquire up to eighty five percent (85%) of approximately 90,000 acres strategically located on the Rincon, Centenario, Pocitos, and Cauchari Salars, which are all known to have potential for lithium and potassium resources.
The exploration program will be results-driven and will incorporate grid brine sampling, geophysics, drilling, hydrogeological studies and, if warranted, a preliminary economic assessment to determine the economic viability of each property.
Luis Saenz, CEO of Li3 Energy, stated, "We intend to move quickly in our evaluation of the production potential of our Puna Lithium Portfolio, as we believe that the demand for lithium continues to grow with no signs in the near term of slackening of either interest or price. The race is on globally to identify realistic production scenarios backed up by factual reserve estimates in locations that can support low cost production. Given the known resources and relatively advanced state of development at locations such as the Rincon Salar, we believe we have some potentially very high quality projects in our growing portfolio of assets, both in Latin America and the USA." About Li3 Energy, Inc. (OTCBB: LIEG) Li3 Energy, Inc. is an early stage, U.S. public company currently pursuing a business strategy in the lithium brine mining and energy sector in the Americas, with an initial focus on identifying and acquiring opportunities in Peru, Argentina, Chile and the United States. Li3 Energy aims to acquire a significant portfolio of lithium brine deposits in the Americas for the purpose of development and production in order to meet growing market demand and to support the clean energy and green energy initiatives being implemented globally. For more information, visit: www.li3energy.com.
Forward-Looking Statements Certain statements in this news release are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "proposes," "hopes," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of Li3 Energy, including, but not limited to, Li3 Energy ’s ability to identify appropriate corporate acquisition and/or joint venture opportunities in the lithium mining sector and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities; future economic condition; political stability; and lithium prices. Additional information on risks and other factors that may affect the business and financial results of Li3 Energy can be found in Li3 Energy’s annual, quarterly and current reports and other documents filed with the U.S. Securities and Exchange Commission and available at www.sec.gov.
Nature’s Peak Announces It Will Attend the 2010 Kehe Holiday Show ‘Your Path to Market During the Holidays’ on June 13 – 15
Nature’s Peak will attend the 2010 Kehe Holiday Show with its Master Broker through Kehe’s Tree of Life subsidiary
SANTA CRUZ, Calif., March 31, 2010 Nature’s Peak / Everock, Inc. (Pink Sheets: EVRN) announced today that together with its Master Broker, Source One Sales and Marketing, it will attend the 2010 Kehe Holiday Show, June 13 – 15th at the McCormick Place Lakeside Center in Chicago Illinois.
Paul Wilkinson, CEO of Nature’s Peak / Everock, said, "We are very pleased to have this opportunity to be at the show and to share a booth with Source One, our Master Broker and through Kehe’s Tree of Life subsidiary." Tree of Life is now part of Kehe Distributors. The company now provides Natural & Organic, Specialty & Gourmet, and International & Multicultural products to more than 33,000 natural food stores, grocery stores, and other specialty product retailers throughout North America.
"The 2010 Kehe Holiday Show provides us with an excellent opportunity to showcase our VeggieDips and VeggieSpreads at one of the largest and well attended shows in the industry. In attendance will be hundreds of Kehe and Tree of Life retailers from across the country ready to book our products during what will be the most anticipated and attended show of the year!" Wilkinson continued, "The Kehe Holiday Show is known for exciting new items, hot holiday-season promotions, and a chance to sell on the show floor." "We will offer seasonal promotions and items that provide consumer value and the retailer with more value options within the specialty and natural products world. In addition, we will be providing red-hot holiday promotions and compelling ’show floor only deals,’" said Wilkinson.
About Everock / Nature’s Peak: Nature’s Peak produces a line of all-natural gourmet vegetable dips and sandwich spreads marketed under the Nature’s Peak brand.
Both VeggieDip and VeggieSpread are 100% all-natural, vegetarian, Kosher and gluten-free, and contain no preservatives, artificial ingredients, trans-fats, or sugars. There are six flavors in each product line, including novel delicious flavor combinations.
Nature’s Peak products are marketed through its Master Broker to natural food stores, specialty groceries as well as regional and national grocery chains. Our products will also be available to restaurants, delis and other food service providers across America.
Visit our website at www.NaturesPeak.com to learn more about our products and to discover new and delicious recipe ideas.
Forward Looking Statements: This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. These statements are identified as any statement that does not relate strictly to historical or current facts. They use words such as "anticipates," "intends," "plans," "expects," "will," and other words and phrases of similar meaning. In all cases, a broad variety of assumptions can affect the realization of the expectations or forecasts in those statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company’s ability to develop operations, the Company’s ability to consummate and complete an acquisition, the Company’s access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company’s public announcements. Consequently, no forward-looking statement can be guaranteed. Actual future results may vary materially.
Biostar Pharmaceuticals, Inc. Reports Fiscal 2009 Financial Results
Company Increases 2010 Revenue Guidance to $80 million-$82 million and Net Income to $18 million-$20 million
XIANYANG, China, April 1, 2010 Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM) ("Biostar" or "the Company"), the Xianyang-based manufacturer of a leading over-the-counter Hepatitis B medicine, Xin Aoxing Oleanolic Acid Capsule ("Xin Aoxing"), and other pharmaceutical products, today announced its 2009 year-end financial results.
FINANCIAL HIGHLIGHTS
FY 2009 revenues increased 57.2% to $53.3 million, from $33.9 million for FY 2008
FY 2009 gross profit increased 96.0% to $39.0 million, compared to $19.9 million for FY2008; and gross margin increased 1,470 basis points to 73.2%
FY 2009 cash flow from operations increased 171.0% to $5.7 million
At December 31, 2009, cash and equivalents of $8.6 million, working capital of $24.1 million and current asset to current debt ratio ("current ratio") of 5.0 to 1.0
FY2009 net income increased 56.7% to $10.5 million, or diluted EPS of $0.32, from $6.7 million for FY2008, or diluted EPS of $0.22
SUMMARY FINANCIALS
Fiscal 2009 Results FY 2009 FY 2008CHANGE Net Sales $53.3 million $33.9 million +57.2%Gross Profit $39.0 million $19.9 million +96.0%GAAP Net Income $10.5 million $6.7 million +56.7%GAAP EPS (Fully Diluted) $0.32 $0.22 +45.5%Biostar’s 2009 revenues increased 57.2% to $53.3 million from $33.9 million reported for the prior year period as a direct result of newly established sales offices in Tianjin municipality, Fujian province and Xinjiang province, as well as expanded sales efforts through rural networks. Demand for Biostar’s leading Hepatitis B medicine, Xin Aoxing Capsules ("Xin Aoxing") and the balance of the Company’s product portfolio peaked in the second half of the year. Xin Aoxing contributed approximately $36.7 million or 68.9% to total revenues for the fiscal 2009, representing 95.8% year-over-year growth. The significant increase was primarily due to market expansion of Xin Aoxing in 2009 and the Company’s strategy to target rural communities and networks in China.
Cost of goods sold for fiscal 2009 was approximately $14.3 million, yielding a gross profit of $39.0 million and gross margins of 73.2%, compared to $19.9 million in gross profit and a gross margin of 58.5% for fiscal 2008. The 1,470 basis point improvement in gross margins was primarily attributable to the decrease in the raw material prices of Xin Aoxing and Danshen Granule and the Company’s strategy to use its direct sales force to sell to dealers and end-users primarily in rural communities.
Operating expenses for 2009 were $23.9 million, up 97.7% compared to the same period in 2008. Selling, general and administration expenses for the period increased to approximately $22.9 million from $12.1 million, primarily due to enhanced marketing efforts including increased sales payrolls and direct marketing expenses. In addition, we incurred non-cash equity compensation charge of $1.0 million in 2009, which was not present in 2008.
Operating income for 2009 totaled approximately $15.1 million, a 94.6% increase from 2008 operating income of $7.8 million. Operating margins were 28.3% and 22.9% for 2009 and 2008, respectively. Excluding the non-cash equity compensation charge of $1.0 million recorded during 2009, adjusted operating income for fiscal 2009 is $16.1 million with operation margins of 30.2%.
2009 net income was approximately $10.5 million, a 56.7% increase from $6.7 million recorded for 2008. Adjusted net income for 2009, excluding the equity compensation charge, was $11.5 million, or $0.36 per diluted common share based on 24.3 million diluted common shares for 2009.
The income tax provision was $4.3 million and $1.0 million for fiscal 2009 and 2008 with an effective tax rate of 28.8% and 13.4%, respectively. The increase was due to the expiration of a 50% income tax reduction on December 31, 2008, raising Biostar’s statutory income tax rate in China to 25%.
"We are very pleased to report our fiscal 2009 results which included strong revenue growth. Our marketing strategy for our flagship Xin Aoxing Capsule was successful and was complemented by the expansion of our rural network, which enabled us to achieve record sales and earnings for the year," commented Ronghua Wang, Chairman and Chief Executive Officer of Biostar. "Our Xin Aoxing Capsule, the only OTC Hepatitis drug available in China, is sold directly through our own sales forces in 17 provinces as of March 31, 2010. In addition, we expect to expand our rural network coverage from 6,000 sales outlets as of March 31, 2010, to over 10,000 by the end of 2010, with projected full-year revenue contribution of approximately $17.2 million. We have established a solid foundation which optimizes revenue opportunities for both our flagship and new products in major metropolitan and rural areas, and leverages support from both the government’s health care reform under the New Rural Cooperative Medical System, and the consumers’ desire to improve their quality of life." Balance Sheet and Cash Flow Cash and cash equivalents totaled $8.6 million at December 31, 2009, compared to $0.8 million at December 31, 2008. Accounts receivable balance was approximately $19.8 million at December 31, 2009 versus approximately $11.7 million at December 31, 2008. Days sales outstanding (DSO) were at 135 days. Net intangible assets were $11.1 million at December 31, 2009, compared to $7.4 million at December 31, 2008, which included $2.9 million for land use right in connection with Company’s raw material processing plant. The Company had a current ratio of 5.0 to 1.0, and stockholders’ equity of $40.9 million, with total assets of $47.0 million versus total liabilities of $6.1 million at December 31, 2009.
For fiscal 2009, the Company generated $5.7 million in cash from operations as compared to $2.1 million in cash from operations in 2008.
"In addition to expanding distribution and sales of Xin Aoxing, we will start marketing our Ganwang Capsule and several nutrient products approved last year. We expect to receive approval for Zushima Analgesic Aerosol Spray from Chinese Military Drug Administration, which will generate incremental revenues and net income. We remain focused on the initiatives which will contribute to our long-term growth and increased profitability, thus enhancing shareholder value," concluded Mr. Wang.
Recent Events Launched Xin Aoxing Capsule in Tianjin in November 2009 and in Beijing and Shanghai in January 2010. Beijing, Shanghai, and Tianjin are three of the largest markets in China with a total population estimated at 50 million, and Biostar will leverage both distributors and direct sales in these three markets. Management anticipates approximately $11 million in incremental revenues during 2010 from these three new markets with average gross margins of approximately 72%.
Entered into an agreement on March 18, 2010 to acquire 100% of Xi’an Meipude Bio-Technology Co., Ltd., a Xi’an-based medical equipment and nutrients manufacturer ("Meipude") for $1.1 million, and officially took control over the operations and the assets of Meipude on March 29, 2010. Meipude manufactures and distributes topical hernia treatment belts with seven traditional Chinese medicine bags for application to body points associated with hernias. Meipude also manufactures a liquid product for treatment of gynecological inflammation in young and middle-aged women. Meipude has been manufacturing and selling its products in Xi’an and an adjacent province since 2004. Biostar expects revenue contribution from the acquisition to add approximately $3.0 million in 2010.
2010 Guidance Management is raising its 2010 guidance and now expects to report revenues of $80.0 to $82.0 million with net income of $18 million to $20 million. This represents between 50.1% to 53.8% revenue growth and between 71.4% to 90.5% net income growth year over year. The improved outlook is based on new market development of Biostar’s flagship Xin Aoxing Capsule, including the launch in four new markets including Jiangxi, Jiangsu, Hebei and Guangxi provinces planned for early April 2010. Management anticipates approximately $9.3 million in incremental revenues during 2010 from these new markets, and for Xin Aoxing to comprise approximately 66% to 70% of total 2010 revenues. In addition, the addition of Meipude will open up a medical equipment distribution opportunity for Biostar and is expected to contribute approximately $3 million in incremental revenue during 2010. Net income guidance excludes non-cash expenses associated with stock-based compensation and/or future interest expense. The Company’s guidance does not include any contribution from future acquisitions previously announced by the Company or otherwise. Management will continue to evaluate its business outlook as necessary and communicate any changes on a quarterly basis or when appropriate.
Conference Call The Company will host a conference call to discuss the 2009 year end financial results on Thursday, April 1, 2010 at 10:00 a.m. ET. Interested participants should call +1-877-941-2068 within the United States, or US +1- 480-629-9712 if calling internationally. The conference ID is 4276443. It is advisable to dial in approximately 5-10 minutes prior to 10:00 a.m. ET. A playback will be available through April 8, 2010. To listen, please call 1- 800-406-7325 within the United States or 1-303-590-3030 when calling internationally. Utilize the pass code 4276443 for the replay. This call is being webcast by ViaVid Broadcasting and can be accessed at ViaVid’s website at http://www.viavid.net or at the following link: http://viavid.net/dce.aspx?sid=000072BD . To access the web cast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player please visit: .
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, develops, manufactures and markets pharmaceutical products for a variety of diseases and conditions. The Company’s most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar currently manufactures two broad-based OTC products and two prescription-based pharmaceuticals. The Company has adopted international standards, holds one patent and is in the process of applying for two patents.
About Non-GAAP Financial Measures This press release contains non-GAAP financial measure for the non-cash charge related to stock-based compensation. The Company believes that such non-GAAP financial measure is useful to investors because they exclude non- cash charges that management excludes when it internally evaluates the performance of the Company’s business and makes operating decisions, including internal budgeting, and performance measurement, because such measure provides a consistent method of comparison to historical periods. Moreover, management believes such non-GAAP measure reflects the essential operating activities of Biostar. Accordingly, management excludes the non-cash stock-based compensation charge when making operational decisions. The Company believes that providing the non-GAAP measure that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measure provides a consistent basis for investors to understand the Company’s financial performance in comparison to historical periods. In addition, it allows investors to evaluate the Company’s performance using the same methodology and information as that used by management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure. However, management compensates for these limitations by providing the relevant disclosure of the items excluded.
Safe Harbor Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our S-1 dated June 27, 2008, our 10-K for the year ended December 31, 2009, and other recent filings. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
Cord Blood America’s CEO Matthew Schissler, In Analyst Interview, Discusses China Expansion
LAS VEGAS, April 1, 2010 Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com ), is focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally. Its CEO and co-founder, Matthew Schissler, in an interview with analyst Francis Gaskins, said its recent announcement to build the world’s largest stem cell storage facility in China, in conjunction with AXM Pharma, Inc. (Pink Sheets: AXMP), makes great sense for three reasons: A higher percentage of Chinese are interested in storing stem cells than in populations in the U.S. and Europe.
The barriers to entry into China are high and expensive. By partnering with a Company which is already successful, and which holds key government licenses, Cord Blood America sees a pathway to success.
China is the world’s most populous country and Cord Blood America needs representation there to move forward with its worldwide growth strategy.
The entire interview is available at http://gaskinsco.com/cbai-3-31-10.mp3 The interview also features a discussion by Mr. Schissler of the Company’s annual financial report, which was filed with the U.S. Securities & Exchange Commission this week. "We now have a healthy balance sheet compared to where we were 12 months ago," CBAI’s CEO said. "The year 2010 will be dedicated to growing revenues." About Cord Blood America Cord Blood America (OTC Bulletin Board: CBAI) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
International Stem Cell (ISCO) Announces the Signing of a Distribution Agreement with Veritas Corporation, Opening Japanese Markets for Its Lifeline Cell Technology(R) Brand of Human Cell Culture Products
OCEANSIDE, Calif., Mar 31, 2010 International Stem Cell Corporation (OTC Bulletin Board: ISCO), www.internationalstemcell.com, announced today its wholly-owned subsidiary, Lifeline Cell Technology (Lifeline), www.lifelinecelltech.com, has signed a distribution agreement with Tokyo-based Veritas Corporation to distribute its human cell culture products throughout Japan.
Lifeline, located in Maryland and California, specializes in the development, manufacture, and distribution of products to culture human cells for the study of human disease, including products to culture primary human cells and human stem cells. These products are being requested by customers overseas, including customers in Japan, Korea and India and this agreement is the first step in Lifeline’s plan to meet these requests.
According to Lifeline’s CEO, Jeffrey Janus, "Veritas Corporation is a highly respected name in the Japanese life science community, providing Lifeline with a long standing and well established distribution channel to Japanese researchers." He continued, "We are pleased to have such an experienced and capable partner in Japan who should help continue the rapid expansion of our Lifeline brand of human cells and cell culture tools." Lifeline’s scientists have over 20 years of experience developing products for the culture of human cells, and have made significant contributions to the creation and standardization of human cell systems used today for clinical applications and in academic, government and pharmaceutical research laboratories. Lifeline scientists recently discovered methods to create human corneal tissues from ISCO’s proprietary human "parthenogenetic" stem cells, and are actively working to create products that may have significant use as research tools for drug testing or for treating corneal injury and disease.
"This agreement is important in advancing ISCO’s goal of becoming the primary provider of high quality human stem cell culture tools to the research and therapeutic markets," said Dr. Andrey Semechkin, ISCO’s CEO.
International Stem Cell Corporation has developed, for the first time under controlled conditions, human "parthenogenetic" stem cell lines (hpSC) that promise to minimize the rejection of transplanted cells by a patient’s immune system. ISCO’s technology, called "parthenogenesis," results in the creation of pluripotent hpSC from unfertilized human eggs. This new methodology offers the potential to create the first true "Stem Cell Bank" and also addresses critical ethical issues by eliminating the need to use fertilized embryos. Lifeline Cell Technology not only provides ISCO with revenue, but also with the manufacturing experience and infrastructure needed to move ISCO’s hpSC products into "cGMP" manufacturing conditions that are required by Federal regulators for manufacturing cells for future therapeutic use.
ABOUT INTERNATIONAL STEM CELL CORPORATION (ISCO.OB): International Stem Cell Corporation is a California-based biotechnology company focused on therapeutic and research products. ISCO’s core technology, parthenogenesis, results in creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells with minimal immune rejection after transplantation into hundreds of millions of individuals of differing sexes, ages and racial groups. This offers the potential to create the first true stem cell bank, UniStemCell(TM), while avoiding the ethical issue of using fertilized eggs. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology. More information is available at ISCO’s website, www.internationalstemcell.com.
To subscribe to receive ongoing corporate communications please click on the following link: STATEMENTS Statements pertaining to anticipated technological developments and therapeutic applications, and other opportunities for the company and its subsidiary, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "should," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company’s business, particularly those mentioned in the cautionary statements found in the company’s Securities and Exchange Commission filings. The company disclaims any intent or obligation to update these forward-looking statements.
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