NEW YORK, July 15 /PRNewswire-FirstCall/ -- On July 1st, 2005 Shanghai Yutong Pharmaceuticals, Ltd completed its definitive merger agreement with China Child Vision, Inc.
The exchange of shares was calculated at a ratio of 4 shares of Shanghai Yutong Pharmaceuticals, Ltd for each one share of Child Vision, Inc. The Board had also agreed to enact a 5 for 1 forward split of the stock to all shareholders of record.
To reflect the change of control, the Board of Directors elected to change the name of the Corporation to Shanghai Yutong Pharma, Inc. as well as the trading symbol to SYUP.
About Shanghai Yutong Pharma, Inc.
Shanghai Yutong Pharma, Inc through its subsidiary Shanghai Yutong Pharmaceuticals, Ltd. develops Chinese herbal medicines and biological pharmaceuticals using modern biotechnology and traditional Chinese medical technology. Shanghai Yutong operates from a 90,000 square foot GMP-approved facility and markets over 13 kinds of traditional Chinese medicine with sales distribution in Hong Kong, Philippines, Singapore and Taiwan. The Company’s flagship product, Qilisheng Oral Solution, has been granted a U.S. patent.
Legal Disclaimer
The statements contained in this press release contain certain forward looking statements, including statements regarding the company’s expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company’s management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company’s management.
For Further Information: Rick Oravec rick@vircomglobal.com 212-924-3548
Shanghai Yutong Pharma, Inc.
CONTACT: Rick Oravec, rick@vircomglobal.com, +1-212-924-3548