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Thursday, August 23, 2007 9:14:57 AM
Thursday August 23, 2007 06:31:41 EDT
SUN VALLEY, CA, Aug 23, 2007 (MARKET WIRE via COMTEX News Network) --
BioPharmetics, Inc. (PINKSHEETS: BPMT) announced today that on or about September 13, 2007, the Company will announce the record date and structured dividend payout of shares of Summus Works, Inc. to BioPharmetics, Inc. shareholders resultant of the recent sale of assets to BioPharmetics, Inc. Management stated that while the exact details of the dividend are currently being structured, it will be paid pro rata to BioPharmetics shareholders.
In other news, the company is actively targeting new acquisitions for the company and expects to announce pertinent material developments to that end before Labor Day weekend. Ideal acquisition targets have been identified and due diligence is underway, management concluded.
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Contact:
FutureTechIR for BioPharmetics
Investor Relations
(727) 417-9338
SOURCE: BioPharmetics, Inc.
Copyright 2007 Market Wire, All rights reserved.
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