BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Advanced Plant Pharmaceuticals, Inc. (APPI) Converts $2.4 Million of Current and Long Term Debt Into Equity


5/26/2010 10:00:18 AM

NEW YORK, NY--(Marketwire - May 26, 2010) -

Advanced Plant Pharmaceuticals, Inc. (PINKSHEETS: APPI) announced today that in preparation for the company's new business plan, APPI has reduced its corporate short term and long term debt approximately 90% through the conversion of debt to equity and the company is now largely debt free to provide the future financial flexibility to build the company's business in the rapidly growing sector of biofuels. The company also anticipates becoming current with its financial filings in the near future to meet the most immediate corporate goal of returning to the status of a fully reporting company in full compliance with SEC reporting requirements.

The company's new CUSIP number -- 98148H 109 -- has been assigned and APPI will be announcing a ticker symbol change to reflect the company's corporate name change to World Health Energy Holdings, Inc. upon receiving final approval from FINRA.

APPI is close to consummating a definitive agreement to acquire a majority interest in GNE-India, an algae technology company with the distribution and licensing rights to a unique and innovative system to grow algae quickly and efficiently for energy and food protein. GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka.

The new World Health Energy Holdings, Inc. has formulated a business plan focused on biofuels produced from algae which boasts substantially higher yields in comparison to ethanol derived from corn, rapeseed, jatropha and palm oil. Higher oil prices and overlapping demands between foods and other biofuel sources have attracted funding and interest from the public and private sector in algaculture (also known as "farming algae") for producing biofuels, often using land that is not suitable for agriculture. Production of biofuels with algae is more efficient due to algae's rapid growth rate, which is often monitored in hours instead of days. Algae production can cost more per unit mass yet can yield over 30 times more energy per unit area than other, second-generation biofuel crops. The US Department of Energy has estimated that if algae fuel replaced all the petroleum fuel in the United States, it would require 15,000 square miles, less than 14% of the area used in the United States in 2000 for corn production. Algae can grow in brackish, saline and wastewater, reducing the amount of freshwater required and the nutrients in wastewater actually feed the algae which can grow in temperatures ranging from freezing to 158 degrees Fahrenheit.

Shareholders and interested investors who would like to be added to APPI's corporate e-mail list are encouraged to send an e-mail to info@worldhealthenergy.com for all future corporate press releases and industry updates.

About Advanced Plant Pharmaceuticals, Inc.

Advanced Plant Pharmaceuticals, Inc. (APPI) focuses on the research and development of whole plant-based nutritionals. The company has a composition-oriented patent for a proprietary process of utilizing whole plants to safely manufacture all-natural nutritional supplements. APPI markets and distributes its line of products including Lo-Chol™ worldwide through various sales distribution channels.

About World Health Energy Inc. http://www.worldhealthenergy.com

World Health Energy, Inc., still known as Advanced Plant Pharmaceuticals to the financial markets, is an emerging renewable energy and biofuel company. The company will produce, sub-license and market high-quality, low cost B100 Biodiesel to replace traditional fossil fuels with proprietary algae biofuel systems.

About GNE-India, Inc http://www.globalworldenergy.org

GNE Global Natural Energy Ltd. is an algae tech company with unique systems to grow algae commercially for energy and food. The Company was founded by top experts in the plant and algae field after several years of Research and Development to create affordable and viable algae biofuel systems.

"Safe Harbor Statement" Under The Private Securities Litigation Reform Act Of 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Advanced Plant Pharmaceuticals, Inc.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.


CONTACT:
Advanced Plant Pharmaceuticals, Inc.
Investor Relations
212-444-1019
info@worldhealthenergy.com



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->