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somebody quick paint the close so we can say it was an up day.
This seems to be heading downward! Ouch!
This stock seems to have run out of steam and excuses
Maybe from the chainsaw. All I hear is Timber.
Well if i put out a PR stating a certin attorney was hired to do my audit and they actualy weren't, in good conscious would like to correct the matter unless it was all B.S.
The auditor on file is not doing the audit. So as far as I know it's all a lie! Nothing to show other wise!
Where do you see that?
Heading back to trips!!!
THIS IS A LIE!
WILSON, NC -- (Marketwire) -- 10/17/11 -- PharmStar Pharmaceuticals, Inc., (PINKSHEETS: PHAR) (the "Company") today announced that its management and Board of Directors have directed a "rollback" of certain large blocks of shares of PharmStar Pharmaceuticals common stock held by management. This "rollback" was effective as of today.
The "rollback" means that the Company's Chairman and CEO, Howard Phykitt, has canceled and returned 535 million shares of his total holdings of the common stock of PharmStar Pharmaceuticals to the Company's treasury. He has accepted a series of warrants as follows:
A 5 year warrant to purchase 15,000,000 shares at $0.05 per share beginning immediately;
A 5 year warrant to purchase 15,000,000 shares at $0.10 per share upon the closing of an initial round of financing, such financing planned to be $5 million and targeted to close within 150 days;
A 5 year warrant to purchase 15,000,000 shares at $0.15 per share upon the closing of a follow-on round of financing, such financing planned to be $2 million and targeted to close within 6 months after the initial round;
A 5 year warrant to purchase 15,000,000 shares at $0.20 per share upon the commencement of the Company's operations and production of its products.
Additionally, the Company's Board of Directors has approved the reduction of authorized shares of common stock from 1,001,184,352 to 650,000,000.
Prior to the rollback, there were 998,879,352 issued and outstanding shares of common stock of the Company. As a result of the rollback, there are now 435,000,000 issued and outstanding shares of common stock of the Company, plus 15,000,000 set aside for the initial warrants, plus 55,000,000 shares set aside for future financings. This means that every shareholder of the Company now owns a greater percentage of the Company by a factor of approximately 2. The reduction of the total outstanding shares of the Company implies a greater share value for the holdings of the non-majority shareholders.
PharmStar CEO Howard Phykitt commented, "I am committed to preserving shareholder confidence and value to our Company. I sincerely appreciate the many investors who believe in our products and what it is that we plan to achieve. In the interest of maintaining shareholder value and adhering to our promise of limiting the number of authorized shares of common stock, I am surrendering the majority of my holdings of stock back to the Company's treasury, which I trust will only serve to increase shareholder value."
The primary purpose of the rollback is to spur the completion of the Company's funding.
Mr. Phykitt stated, "We have been negotiating for about 45 days on the best way to complete our financing for our expected rollout of Aquaprin next year, and it became clear that the market would best support this if we decreased the amount of shares available. I was determined that this would not be done on the backs of those that have supported this company, so I convinced all of the original, large shareholders to retire a large percentage of shares -- including me." Mr. Phykitt continued, "I made a promise to all shareholders that this Company would raise the needed capital and execute its business plan without undue dilution of its shareholders.
A feature of the rollback plan will allow Mr. Phykitt to purchase up to 60 million shares over time through the warrant feature.
"The warrant structure highly incentivizes me to lead the Company to a share price above the $0.25 mark," Mr. Phykitt concluded.
About PharmStar Pharmaceuticals
PharmStar Pharmaceuticals, Inc. is a U.S.-based drug development, manufacturing and marketing company and the innovator of Aquaprin™, an FDA-approved Over-the-Counter (OTC) liquid pain reliever. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin based on a patent-pending formula. The product is designed to dissolve nearly instantly in just 1.5 ounces of water, which can be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset. PharmStar's headquarters are located in Wilson, NC. For more information, visit www.pharmstarinc.com.
THIS IS A LIE!
PharmStar Announces Initial Distribution Agreement for Aquaprin
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=811665&ProfileId=051205&sourceType=1
WILSON, NC -- (Marketwire) -- 10/20/11 -- PharmStar Pharmaceuticals, Inc. (PINKSHEETS: PHAR) (the "Company") today announced that it has signed a commitment letter for a 3-year wholesale distribution agreement for its signature product line, Aquaprin.
Alert Medical Supply ("AMS"), a worldwide wholesale distributor located in Brooklyn, NY, has committed to order a total of $5 million of Aquaprin over a three-year period, beginning upon PharmStar's initial operations for the production of Aquaprin, which Pharmstar's management is planning for the third quarter of 2012. The agreement will require the Company to meet a minimum order requirement over the period of the contract before additional product can be made available to other distribution channels. AMS will look to expand its distribution agreement to include extension products that have been developed by the Company as they become available in the product supply channel.
AMS is also making a direct investment in PharmStar through its Preferred D offering to further the Company's goals of meeting its production deadlines.
PharmStar CEO Howard Phykitt stated, "Distribution is a key function in getting Aquaprin to retail shelves in a timely manner, as we all know. We continue to develop distribution agreements with companies that have experience in getting products to market and on time. Alert Medical meets that goal for us, and we expect this partnership to grow as our ability to produce more Aquaprin grows. Additionally, AMS is now a minority equity partner, and as such is incentivized to help streamline the distribution process."
AMS President Babatunde Kupoluyi stated, "It is exciting to be the first distributor of Aquaprin. I had the opportunity to test Aquaprin, and it is a great product. I made the commitment to the Company with my first order, and show my belief in the product by putting together an equity position as well. I look forward to assisting in getting this aspirin product to market."
About PharmStar Pharmaceuticals, Inc.
PharmStar Pharmaceuticals, Inc. ("PharmStar") is a U.S.-based drug development, manufacturing and marketing company and the innovator of the FDA-approved liquid pain reliever, Aquaprin™. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin, and is now ready for commercialization. Aquaprin™'s unique, multiple patent-pending formulas are designed to dissolve nearly instantly in just 1.5 ounces or more of water. This enables the product to be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset.
PharmStar initially plans to sell Aquaprin™ directly to nursing homes, outpatient and health care clinics, emergency units of hospitals nationwide, as well as retail distribution in selected local markets and third-party websites to be announced. All package engineering, product stability, shelf life testing and quality control research has been completed. PharmStar's headquarters are located in Wilson, NC.
THIS IS A LIE!
December 21, 2011 - 9:15 AM EST
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PharmStar Pharmaceuticals Announces Aquaprin Marketing Campaign
WILSON, N.C., Dec. 21, 2011 /PRNewswire/ -- PharmStar Pharmaceuticals, Inc., (Pink Sheets: PHAR) (the "Company"), today announced the rollout of its initial marketing plan for the introduction of its signature product, Aquaprin.
The marketing plan includes a multi-city tour in the United States to present the product to the medical community. This presentation is designed specifically for those that have a need to understand the advantages and benefits of the liquid aspirin derivative, as well as the line extension products that will be offered using the Aquaprin technology.
In discussing the tour, CEO Howard Phykitt said, "It is our belief that Aquaprin can be the pain reliever that most people will reach for when facing aches and pains. Doctors and pharmacists will want to fully understand the product, and we need such a forum to answer questions. Medical professionals have a need to know about this new tool that we can provide for their toolbox."
The audience for each presentation will be by invitation only, and will include professionals that are connected to the medical industry, as well as financial professionals. The tour will kick off in Los Angeles, CA on January 18, 2012, to be followed by presentations in Raleigh, NC; Miami, FL; and Dallas, TX over the successive eight weeks. The remainder of the tour will be announced as dates are finalized. The presentations will be made by Mr. Phykitt, the inventor of the technology used to make Aquaprin.
About PharmStar Pharmaceuticals
PharmStar Pharmaceuticals, Inc. ("PharmStar") is a U.S.-based drug development, manufacturing and marketing company and the innovator of the FDA-approved liquid pain reliever, Aquaprin™. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin, and is now ready for commercialization. Aquaprin™'s unique, multiple patent-pending formulas are designed to dissolve nearly instantly in just 1.5 ounces or more of water. This enables the product to be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset.
PharmStar initially plans to sell Aquaprin™ directly to nursing homes, outpatient and health care clinics, emergency units of hospitals nationwide, as well as retail distribution in selected local markets and third-party websites to be announced. All package engineering, product stability; shelf life testing and quality control research has been completed. PharmStar's headquarters are located in Wilson, NC.
THIS IS A LIE!
PharmStar to Pursue SEC Fully-Reporting Status
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=815170&ProfileId=051205&sourceType=1
WILSON, NC -- (Marketwire) -- 10/31/11 -- PharmStar Pharmaceuticals, Inc. (PINKSHEETS: PHAR) (the "Company") announced today that it has started the process of becoming a fully-reporting company under U.S. Securities and Exchange Commission (SEC) regulations, in preparation for listing its shares on the OTC Bulletin Board (OTCBB).
Fully-reporting SEC status will allow PharmStar to pursue a listing on NASDAQ's OTC Bulletin Board, a regulated quotation service that displays real-time quotes, last-sale prices, and market depth and volume information for over-the-counter securities.
"I am committed to continuing our policy of transparency and complete disclosure, and this process is therefore mandatory for us if we are to achieve our goals," stated PharmStar CEO Howard Phykitt. "I believe that a listing on the OTCBB will enhance investor interest and confidence, lower our cost of capital, and make our stock more attractive to institutional investors. As the Company continues to progress toward this listing we will update our shareholders accordingly. As a first step, we have identified our audit firm and have begun organizing our historical corporate operations and financial results. We will then prepare SEC filings in anticipation of transitioning to fully-reporting status and application to the OTCBB early next year."
The Company completed the initial step in the process of becoming fully-reporting by retaining the accounting firm of Labrozzi & Company, P.A. The firm will immediately initiate an audit of PharmStar Pharmaceuticals, Inc. and its operations.
The Company's major milestones include completing its audit (4-6 weeks), the filing of a Form 10 (9-12 weeks) and 15c211, and the probable filing of an S1 registration. The Company's management expects the total process to take approximately 4 to 6 months.
About PharmStar Pharmaceuticals, Inc.
PharmStar Pharmaceuticals, Inc. ("PharmStar") is a U.S.-based drug development, manufacturing and marketing company and the innovator of the FDA-approved liquid pain reliever, Aquaprin™. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin, and is now ready for commercialization. Aquaprin™'s unique, multiple patent-pending formulas are designed to dissolve nearly instantly in just 1.5 ounces or more of water. This enables the product to be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset.
PharmStar initially plans to sell Aquaprin™ directly to nursing homes, outpatient and health care clinics, emergency units of hospitals nationwide, as well as retail distribution in selected local markets and third-party websites to be announced. All package engineering, product stability; shelf life testing and quality control research has been completed. PharmStar's headquarters are located in Wilson, NC.
Forward-Looking Statements Disclosure
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "will," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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the truth be told everything Phar has pr has been a false statement. That's all we have to go on. What else is there to beleive.
Only if he gets resurrected. Like some people hoping happens with phar
I seriously doubt any hospital or nursing home would accept the liability without any proven record or clinical trials.
Lets keep it real
Did that one too seems tommy had all of them! LOL
Neither did I. LOL
It seems all the sudden you know and have all the answers.
No! last time I tried using Howie aol account Tommy replied figured they were cohorts never tried again.
Don't know where you got that info from that's the problem they can't secure financing.
It's not hard when you are in the trips.LOL
Also as a company not letting shareholders know where you have moved to or even giving notice of their intent is very shady practice.
Your understanding? You must know more then you lead on to know because now it's "your understanding that they found a new property" different tone now wouldn't you say!
Yes you may! Only if I can release yours! That way the conversations cannot be manipulated.
Yes you may if it's the one I posted on April 5th stating that they were there but as of today I learned that they cleared out Wed. There is nothing confusing about that!
That would be great and I hope that is the case. All I know is they are no longer there. Where they went and what they are doing I have no clue!
It's a fact they are no longer there!
You will be greatly dissapointed then because they are not at the airport dr location.
good D&D
Because they moved out a couple of days ago!
It may not seem like a pressing question but they are not at the airport rd address any longer. so my question is where are they in N.C.I hope you understand the question becuse it's a very simple one.
Where in Wilson,NC?
Where is Phar's office now?
Every one is right great news like merger, buyout or even financing would move this stock upward. On the same note bankruptcy, no funding and getting kicked out in the streets at the end of the month would be the death of this stock.
Are you saying financing is secured!
Yea my fault nothing to do w/phar
I would have to agree with you Snizzle At this moment they are currently occupying that property I have verified. But Time is ticking within the next 30 days or so will be a tell all of pharmstars future. Time is ticking an I hope they make it but it's not looking so good at this moment!
I do beleive that is the problem! They are being pressured to finalize the building deal and do not have their funding completed. Who knows what else. I hope things do work out but it doesn't look so good!
Thank you very much! Great post!
I guess by the the end of this month we will know if Phar is going to make it!