NEW YORK, Nov. 16 /PRNewswire/ -- Advanced Plant Pharmaceuticals, Inc. (OTC Bulletin Board: APPI) a company that utilizes whole plants to develop all natural dietary supplements, is pleased to announce that it has recently been informed by the Securities and Exchange Commission ("SEC") that the Company is in full compliance with SEC reporting rules and has met all requirements to achieve full reporting status. The Company has thus qualified under the new rules of the NASD (National Association of Securities Dealers) and Herzog Heine & Geduld has agreed to act as market makers for APPI on the OTC Bulletin Board.
David Lieberman, President and CEO of APPI, stated, "We are quite pleased to join the small percentage of companies that satisfy SEC reporting requirements. The NASD's decision to limit OTCBB listing to those companies which comply with SEC reporting rules enhances the OTCBB as a reliable source of information for investors seeking to invest in smaller companies with strong growth potential". Mr. Lieberman further stated, "We would also like to take this opportunity to thank our faithful shareholders that remained confident in APPI. APPI's competent and skilled management team is in place to lead the Company to achieve the enormous potential that our loyal shareholders recognize."
APPI is also proud to announce that they have moved to larger headquarters located at 43 West 33rd Street, Suite 405, New York, N.Y., 10001. Mr. Barry Clare, Chief Operating Officer for APPI stated, "The larger corporate offices will enable the Company to grow internally as we anticipate increased revenues for the year 2000.
For more information on APPI, please visit the Company's Web site at www.advancedplantpharm.com
The company hopes to announce further agreements in the near future.
APPI is a company that develops innovative plant formulations and technology for clinical application. APPI has met FDA nutritional specifications for the marketing of its Cholesterol lowering agent "Lo-Chol" in the USA, and has received the first IND from the FDA for a whole plant pharmaceutical, Abavca/ACA, which has potential as an immunomodulater in the treatment of patients infected with HIV, the virus that causes AIDS. APPI's Whole Plant Pharmaceutical Grade Process is trade secret. Utilization of the APPI process converts a whole plant into a standardized product.
APPI is in the on-going process of establishing exclusive distributorships for their products in the United States and abroad.
This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements.
Contact: Barry Clare of Advanced Plant Pharmaceuticals, Inc., 212-695-3334.
SOURCE Advanced Plant Pharmaceuticals, Inc.
CO: Advanced Plant Pharmaceuticals, Inc.
ST: New York
IN: MTC HEA
SU:
11/16/1999 12:04 EST prnewswire.com |
