Business Services Industry
Benda Comments on Stock Price Decline
Business Wire, Nov 16, 2007
HUBEI PROVINCE, China -- Benda Pharmaceutical, Inc. ("Benda" or the "Company") (OTCBB: BPMA), a China-based pharmaceutical company producing traditional Chinese and conventional medicines, as well as Gendicine([R]), the world's first commercialized gene therapy medicine for the treatment of cancer, has provided the following comment regarding the stock's recent trading history:
"Benda's stock price has experienced a sharp decline this week as a result of selling associated with SEC Rule 144. On November 15, 2006, Benda completed a $12 MM private placement with several investors. While a registration statement registering the shares underlying the private placement has been filed with the SEC, it has not yet been declared effective. Therefore, to date, investors in the $12 MM private placement have not been able to sell any shares purchased in the private placement. Under SEC Rule 144, after shares have been held by a shareholder for one year, such shareholder can sell up to 1% of a company's total outstanding shares during any 90 day period (the SEC approved a rule today to reduce the holding period to 6 months). Benda is of the opinion that certain investors in the $12 MM private placement are now availing themselves of that opportunity," stated Mr. Yiqing Wan, Benda Chairman and CEO. "Benda has not deviated to any degree from its business plan and continues to execute. Moreover, Benda has consistently communicated all material financial and operational information to investors - the stock price decline is in no way the result of any information not yet made publicly available."
About Benda Pharmaceutical, Inc.
Benda Pharmaceutical, Inc. (www.bendapharma.com), a China-based pharmaceutical company, is a pure play on explosive Chinese pharmaceutical spending and the global search for a cancer cure. Benda produces traditional Chinese and conventional medicines, as well as Gendicine([R]), the world's first commercialized gene therapy medicine for the treatment of cancer.
Benda Investor Resources
Fact Sheet: http://files.shareholder.com/downloads/BPMA/151228937x4452657x111082/ 95430c49-a77a-43c9-89ad-d6cc75cffc59/FactSheet.pdf
PowerPoint Presentation: http://files.shareholder.com/downloads/BPMA/151228937x4452657x111087/ 35a10e95-f328-45ad-81ab-529f6cc1af6d/Bendapresentation061107.pdf
Gendicine([R]) Video: http://play.rbn.com/play.asx?url=shareholder/shareholder/wmdemand/ bendavideo.wmv&proto=mms?mswmext=.asx
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
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