Dear Fellow Shareholders:
Many questions have arisen since the SEC action that deregistered the Company on May 25, 2011. While we are working every day to move the Company forward and Senior Management is weighing various options we will here attempt to answer some of the questions with an eye towards keeping our shareholders as informed as we can under the circumstances.
Following are a series of recently received questions and the best answer we have at the moment. In some cases we may not have a specific answer due to ongoing legal matters and if so we will endeavor as soon as possible to provide further updates when concrete information becomes available.
Q. What is the status of the audits?
A. We have suspended further auditing expenses and activities in lieu of directing limited resources to operations, marketing and inventory requirements and are supplying all product orders. At such time as it is deemed prudent and advised by counsel, Senior Management will make decisions as to the resumption and feasibility of auditing activities.
Q. Is the company still planning on the launch of the two new products earlier referenced in Press Releases?
A. At this time these products have been developed and are slated for manufacturing and launch in the near future. We cannot at this time give a date certain as the actions of the SEC in April and May and the subsequent priorities in deploying capital have delayed these launches. When there is sufficient capital at some point in the future these products will be rescheduled for launch.
Q. Is the 1000-1 reverse stock split going forward?
A. At this point the Company has not received approval from FINRA and until we receive final review statements from FINRA which have been requested we cannot comment further.
Q. What has been the primary focus of the company prior to the stock being delisted?
A. Prior to the Deregistration the Company remained focused on the roll out plan that had been earlier outlined in Public Press releases as well as the continuing efforts to identify new capital and investment sources.
Q. Is the stock still good?
A. All shareholders continue to own the shares of the Company that they have acquired.
Q. When will the stock be able to be traded again?
A. This is a matter being handled by Company Counsel and Senior Management and until we can make specific determinations and subsequently weigh all options and the related expenses and timeframes we are not in a position to speculate dates for future trading, listing or registration of the Company shares.
Q. Can the stock be traded off line?
A. Stock Shares can be exchanged between private parties subject to SEC Rule 144 guidelines. You should consult your personal counsel with regards to the disposition of any shares. At this time the stock is not being publicly traded and as such no public market exists.
Q. How can I get current information regarding the company?
A. The Company is maintaining its focus on priority expenses and ongoing operations and is not staffed with a full time Investor Relations department. We will from time to time post relevant information to our Company website at www.sinofresh.com or use Press Releases as well as respond to the extent that we can to email requests sent into the Company at investors@sinofresh.com
Q. What are the long term issues with the company?
A. The Company requires significant capital to achieve its ultimate goals and securing this capital remains as the single most important issue for Senior Management. We are not in a position at this time to make further comments on capitalization until such time as we have reasonable belief that we have secured necessary commitments.
Q. What can stockholders expect in the short and long term performance of the company?
A. The Company is not in a position to forecast future performance at this time whether short or long term.
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