BEIJING, Oct. 22 /PRNewswire-Asia-FirstCall/ — Lotus
Pharmaceuticals, Inc. (OTC Bulletin Board:
LTUS) (“Lotus” or the “Company”), a fast-growing, profitable
developer, manufacturer and seller of medicine and drugs in the
People’s Republic of China (“PRC”), announced today that the
Company’s Board of Directors has accepted the resignation of Dr.
Ian Ashley from the Board.
Chairman and CEO Mr. Zhongyi Liu stated, “Dr. Ashley has served
as a valued member of the Board for four years, and we sincerely
appreciate his service. We are preparing to apply for a listing on
a national securities exchange and are adding experienced directors
who will be actively involved in guiding the Company.”
The Company’s management also reaffirms its previously issued
guidance of $73.6 million in revenues and $21.4 million in net
income for fiscal 2010. Management is confident in the Company’s
performance for the rest of the year and looks forward to updating
investors on Lotus’ third quarter results in the 10-Q filing and
earnings release, which are scheduled to be released on or before
Monday, November 15.
Lotus’ management team will also be traveling to multiple cities
in the U.S. to meet with brokers and institutional investors in
early November. The circuit will involve meetings and presentations
in San Francisco, Los Angeles, Phoenix, Chicago, and New York
between Thursday, November 4 and Tuesday, November 9. Financial
professionals who are interested in meeting with Lotus’ management
can contact Jon Cunningham at (407) 644-4256, Ext. 107 or
About Lotus Pharmaceuticals, Inc. Lotus Pharmaceuticals, Inc.
is a fast-growing, profitable developer and producer of drugs and a
licensed national seller of pharmaceutical items in the People’s
Republic of China (PRC). Lotus operates its business through its
two controlled enti