JILIN, China, Dec. 27 /Xinhua-PRNewswire/ -- Global Pharmatech, Inc. (OTC Bulletin Board: GBLP; the "Company") a company that develops, manufactures and markets proprietary botanical drugs and dietary supplements, today announced the results of its annual shareholders' meeting.
The meeting was held at the Company's Changchun office at 509 Maoxiang Street, High-Tech Development Area, Changchun, Jilin, China. As of October 31, 2006, there were 142 record holders of the Company's common stock (the total number of beneficial holders is unknown as they hold the Company's common stock in street name, and such numbers are not provided to the Company by its Transfer Agent and Registrar), and there were 23,247,935 shares of Common Stock outstanding.
Shareholders representing 20,637,145 shares (or 88.77%) of the Company's Common Stock, either voted by proxy or attended the meeting, fulfilling the quorum requirement.
Shareholders passed the following proposals with all votes "For" for each proposal,
1. To elect four (4) directors to the Board of Directors of the Company to serve until the next annual meeting of stockholders and until their successors are duly elected and qualified;
2. To ratify the appointment of Moore Stephens, P.C. (Moore Stephens), as the Company's independent auditors.
3. To consider and act upon a proposal to approve the Company's 2006 Equity Incentive Plan.
About Global Pharmatech
Global Pharmatech, through its subsidiaries, develops, manufactures and markets proprietary drugs that are based on Traditional Chinese Medicine using modern facilities and advanced R&D technologies. The company offers a full range of start-to-finish biotech services, from research and testing to manufacture and sale of liquid and solid dose products. The Company employs unique proprietary extraction methods and also licenses patents and technologies for botanical/biological drug products. Global Pharmatech's operations are currently based in the People's Republic of China with sales distribution centers in China, Malaysia, Singapore and Indonesia. For more information, please visit http://Global Pharmatech.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including our ability to successfully develop and commercialize products, competitive products in our key markets, changes in consumer demand for our products, legislative, regulatory and competitive developments and general economic conditions. Our SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
For more information, please contact:
Global Pharmatech, Inc.
Source: GLOBAL PHARMATECH