China Pharmaceuticals, Inc. (CFMID.OB) Issues Reverse Stock Split to Gain Footing for Senior Exchange Listing
China Pharmaceuticals Inc., a leading manufacturer and distributor of prescription and over-the-counter pharmaceuticals in China, today announced it has effected a 1-for-3 reverse share split as of September 22, 2010. As such, a temporary “D” has been added to the end of the company’s ticker, CFMI; the letter will be removed 20 days after the share split becomes effective. The company said it has officially filed necessary amendments to the state of Nevada and FINRA for the reverse share split, which was enacted to better position the company for listing in the public market place. "Today's announcement further demonstrates to…