Thursday, April 28 2011 5:27 PM, EST American CryoStem Announces Asset Sale Marketwire "Press Releases"
RED BANK, NJ -- (MARKET WIRE) -- 04/28/11 -- American CryoStem Corporation (PINKSHEETS: AMCY) announced today that on April 20, 2011 R & A Productions, Inc. (OTCBB: RAPP) purchased substantially all of the assets from, and assumed substantially all of the liabilities of, AMCY in exchange for the issuance by RAPP to AMCY of 21,000,000 shares of RAPP's restricted common stock, resulting in AMCY becoming the majority shareholder of RAPP. Contemporaneously with the asset purchase closing, RAPP sold, in a private placement made solely to accredited investors, 1,860,000 shares of its restricted common stock for gross proceeds of $930,000 .
Mr. Anthony Dudzinski , the CEO of AMCY, stated, "Because RAPP is a publicly traded reporting company, we believe that the sale of AMCY's assets to RAPP for 21,000,000 shares of RAPP common stock will enhance our shareholders' value."
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors including, but not limited to, the stem cell industry, RAPP's stock price and trading volume, general economic conditions, RAPP's business success and or failure, and its continued development of the assets it acquired from AMCY, the financial position of RAPP and RAPP's ability to successfully commercialize the business it acquired from AMCY when it acquired AMCY's assets.
For More Information, contact: Investor Relations American CryoStem Corporation 188 East Bergen Place , Suite 204 Red Bank, NJ 07701 Phone: 732-747-1007 Fax: 732-747-7782 www.americancryostem.com
Source: American CryoStem Corporation
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM