WESTLAKE VILLAGE, Calif., April 20, 2004 (PRIMEZONE) -- QT 5, Inc. (OTCBB:QTFV), manufacturer, distributor and marketer of biomedical products, today announced that it has obtained shareholder approval for a 1:10 reverse stock split of its shares of common stock.
As a result of this approval, the company's certificate of incorporation will be amended and each ten currently outstanding shares of common stock will be automatically converted into one share of common stock. The company will receive a new trading symbol and expects to effectuate the reverse split this week. Management believes that if it is successful in maintaining a higher stock price, the stock will generate greater interest among professional and institutional investors.
About QT 5, Inc.
QT 5, Inc. is a Delaware corporation formed in April 1999 as a manufacturer, distributor and marketer of Bio-Med testing products. QT 5, Inc. is currently engaged in the development and introduction of Drug Stop, a rapid urinalysis test for drugs of abuse, FDA cleared for professional and over-the-counter use, as well as its Target System(tm) Diagnostic platform that tests for infectious diseases and medical conditions, FDA cleared for professional use only. In addition, the company markets Xact Aid first-aid products for over-the-counter sales. The company continues to do research and development regarding future products for lifestyle enhancements. QT 5, Inc. is headquartered in Westlake Village, California. For more information on the Company please visit: www.qt5inc.com
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or prove incorrect, could cause the results of QT 5, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the reports filed by QT 5, Inc. with the Securities and Exchange Commission. QT 5, Inc. assumes no obligation and does not intend to update these forward-looking statements.