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Microcap & Penny Stocks : WASP -- Ignore unavailable to you. Want to Upgrade?

To: KLH who wrote (187)	9/7/2000 10:29:55 AM
From: KLH	Read Replies (1) \| Respond to of 193

MIDVALE, Utah--(BUSINESS WIRE)--Sept. 7, 2000--Wasatch Pharmaceutical, Inc. (OTC BB: WSPH.O, formerly trading under the symbol WASP), a leader in the research development and distribution of dermatological treatments for skin disorders, announced today that in response to numerous inquiries, the following clarifications on exchanging stock certificates and warrants have been issued. No stock certificate need be exchanged until such time as the owner of a certificate is ready to sell all, or a portion of the shares, contained within that certificate. Once the owner elects to sell a portion of the shares contained within a certificate, that certificate must be sent to the transfer agent listed on the back of the certificate. The transfer agent will then charge $20 for each new certificate requested. Warrants are presently being registered and will be issued for all shares of record at the time of the reverse split. Upon effective date of the registration, which will be made public, all persons owning shares on that date will also be the owners of both the "A" and "B" warrants. If a person owns a thousand shares on the effective date of registration, that person will then receive 500 "A" warrants and 500 "B" warrants in two separate warrant certificates. Both "A" and "B" warrants will be vested in 12 months after the effective date of registration, unless the Company elects to reduce the vesting period. Once the warrants are vested, the owner of these warrants will have three years in which to exercise their warrants. The "A" warrants may be exercised at a price of $0.50 per warrant, with the "B" warrants exercised at $2.00 per warrant. Once shareholders receive their warrant certificates, they may trade or sell those warrants into the market separately from their shares. The shares may be sold separately from the warrants. Wasatch Pharmaceutical, Inc. is a leading research and development company in the field of dermatology. The Company plans toestablish a chain of 350 treatment clinics nationwide over the next 60 months. The Company anticipates the treatment clinics, coupled with an innovative Internet Marketing Plan, should generate revenues of more than $525 million by fiscal year 2005, the target date for completion of the centers. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, changes in the rates of subscriber acquisition and retention, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. --30--es/bos* CONTACT: OTC Financial Network Rick McCaffrey 781-444-6100 or 877-498-9478 ext.656 or Wasatch Pharmaceutical, Inc. Gary V. Heesch 801-272-1709 KEYWORD: UTAH INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 2000, Business Wire