7/28/2010 9:05:59 AM
RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (CBTE.OB) is providing this update to inform the market regarding its near term plans to move the company into a more viable long term position in the market. Concisely stated, the strategy is to divest its remaining assets and thereby create a debt free company with both cash and a reserve of authorized but not issued shares. This debt free shell will then seek a merger opportunity with a company with a strong growth prospectus.
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