Press Release 1/21/99
BIOPHARMACEUTICS, INC. ANNOUNCES CHANGE OF NAME, EXPANSION PLANS
BELLPORT, N.Y.-January 21, 1999-Bioharmaceutics, Inc. (BOPM: OTCBB) today announced its plans to increase shareholder value:
Management is well aware that shareholders have suffered terribly as a result of the drop in the price of the Company's stock. The recent restructuring of the Company and recent capital infusion has left the Company in a position to immediately focus on fundamental growth, the generation of meaningful earnings and recovery of the price of the Company's stock.
Aside from the Company's current efforts to increase sales of its Brands, the Company expects to continue to enhance efficiencies, productivity and margins, with regard to the sale of its products. In addition, the Company has begun construction of a Website that will allow the public to purchase directly from its warehouse facilities. Presently, the Company's Brands are only available through nationwide drug-store chains. In addition to this area of distribution, the Company intends to increase Brand exposure through supermarket representation.
Jonathan Rosen, Acting President & CEO, stated: "It is our intention to spend wisely on acquiring known, high quality, fully established Brands that complement our existing Brand portfolio: Our Koromex, Feminique and Vaginex have been established Brand names since 1933, 1969 and 1982 respectively. Subject to the approval of shareholders, the Company also intends to change its name to FEMINIQUE CORPORATION. Further, we are considering plans which will allow us the opportunity to consider synergistic acquisitions of other companies. The Company does not intend to measure its success as a percentage of its competitors' total market share. Rather, the Company measures its progress and success in terms of its participation in the Over-the Counter health market, a multi-billion dollar arena. Management is determined to succeed with full knowledge that to do so, we need to be better than everyone else. We are poised to prove, that ther definitely is A NEW WAY IN WOMEN'S HEALTH.
This Press release contains forward looking statements within the meaning of Section 21A of the Securrities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. Actual results could differ materially from those projected in the forward looking statements. |
