ALRX - AlphaRx Inc Corporate Update
HONG KONG , Nov. 30, 2011 /PRNewswire/ - AlphaRx Inc. (OTC BB:ALRX.OB) is pleased to announce the following Corporate update:
On November 4, 2011 the CEO, Board and management adopted a corporate development strategy that will shift the primary focus of the Company to digital media with an intense focus on China . The Company will combine its current presence in China with U.S. offices run by top media executives with deep relationships with large global brands.
"The next 3 years will prove to be very exciting for our company and shareholders." Said CEO Michael Lee . "We are very confident that this shift is the right direction to follow. AlphaRx will become a leader in the complex category of digital marketing to Chinese consumers."
Sec Fillings The total shares outstanding for ALPHARX as of
May 29, 2012 there were 19,035,009 with 250,000,000 shares authorized.
Note: On January 11, 2012, the Company reached an out of court settlement with its former scientists and as a result, 1,060,000 shares were returned to treasury and were cancelled.
Total revenues for the six-month period ended March 31, 2012 were $236,931 as compared to $74,220 generated for the same period a year ago, an increase of $162,711 or about 219%. We continue to pursue revenue opportunities in all forms (consulting, royalties and license fees).
On April 2, 2012,a (1) share for (5) share reverse stock split of the Company's common stock was approved by our Board of Directors and by the written consent of our stockholders entitled to vote and holding at least a majority of our outstanding common stock, par value $0.0001 per share. Stockholders holding in the aggregate 54,670,271 shares of Common Stock or approximately 57.44% of the voting stock outstanding as of April 20, 2012 approved the reverse split.