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Lotus Pharmaceuticals, Inc. Runs Out of Cash


4/11/2012 6:35:38 AM

April 10, 2012 -- Lotus Pharmaceuticals said the costs of building a new Beijing headquarters building have brought on a cash crunch. To save money, Lotus will stop paying outside auditors, a move that will eventually culminate in a delisting of the the company's stock. Lotus issued an open call to any investors who might have an interest in its business. Management said it wants to work out terms that will allow it to continue operating as a publicly owned company. More details...

Stock Symbol: (OTCBB: LTUS)


Read at ChinaBio Today


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