Baywood International, Inc. Completes Reverse Stock Split
Tuesday December 18, 9:00 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Baywood International, Inc. (OTCBB:BYWD - News) (“Company”), a leading nutraceutical company, announced today a 20-for-1 reverse split of the Company's common stock. A majority vote of the shareholders approved the action which will become effective when the market opens on December 18, 2007. The Company's common stock will trade under the new symbol “BAYW” on the OTC Bulletin Board. The Board of Directors has amended the Company's Articles of Incorporation to effect the split, which will affect all outstanding shares of the Company’s common stock, including those shares underlying outstanding stock options, warrants and other convertible securities immediately prior to the effective date.
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"We are confident the reverse split is in the best interest of both Baywood and our shareholders," said President & C.E.O. Neil Reithinger. "It is our strong desire that shareholders benefit from a capital structure that is more appropriate to the company and its future potential. This change will open the door to a more diversified and serious investment interest to position the company for future growth.”
About Baywood:
Baywood International, Inc. (OTCBB:BYWD - News) is a nutraceutical company specializing in the development, marketing and distribution of its own proprietary brands under the names Baywood PURECHOICE®, Baywood SOLUTIONS® and Complete La Femme®. The Company’s products are distributed through independent and chain health food stores, pharmacies, grocery stores, and other direct-to-consumer channels both internationally and domestically. Baywood’s wholly-owned subsidiary, Nutritional Specialties, Inc./dba LifeTime® or LifeTime® Vitamins (“LifeTime”), is a nutraceutical company that was established in 1988 and specializes in the development, marketing and distribution of its own brands under the LifeTime® name. LifeTime’s brands currently consist of approximately 370 products that are sold directly to independent and chain health food stores, pharmacies, natural food stores, and other direct-to-consumer channels across the United States. In addition, LifeTime’s products are sold internationally through distributors in Canada, Croatia, Turkey, England, Dubai, Holland, Sweden, Portugal and certain parts of Asia. For more information, call (888) 350-0799, or for more information, visit www.bywd.com.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company’s expectations, among other things, are dependent upon general economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to integrate the business of LifeTime, need for and availability of additional capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's Form 10-KSBs and 10-QSBs on file with the United States Securities and Exchange Commission.
Contact:
Baywood International, Inc.
Neil Reithinger, President & C.E.O., 480-951-3956, x120
nreithinger@bywd.com
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Source: Baywood International, Inc.
