Miami Beach, Nov. 29, 2012 (GLOBE NEWSWIRE) -- Divine Skin Inc. (DSKX), a leading developer of personal care products, announced today that effective November 30, 2012 the Company will change its name to DS Healthcare Group, Inc., to be better reflect the company's recent achievements and in line with short and long term goals. Furthermore, effective November 30, 2012 the Company shall also effectuate at 10 to 1 reverse split of its outstanding common stock, which the Company believes will result in a higher per share trading price of its Common Stock and may enable the Company to attract additional interest in its common stock from the investment community. The Company has also implemented the reverse stock split in order to comply with NASDAQ's $3 minimum required bid price for initial listing on the NASDAQ Capital Market. The Company has recently applied for listing of its common stock on the NASDAQ Capital Market and believes that the reverse split will enable the Company to satisfy the minimum bid price requirement. On the effective date, the Company will trade under the ticker DSKXD, with the symbol "D" being added as a 5th character for 20 business days. After the 20 days, the Company will resume trading under the ticker DSKX.
The Company believes that with the reverse split it will comply with NASDAQ listing requirement expect for the minimum price requirement. However, the company cannot provide assurances that NASDAQ will ultimately approve the Company's application for listing on the NASDAQ Capital Market.
About Divine Skin
Divine Skin Inc. leads in the development of biotechnology for topical, and nutritional therapies. It markets through online and specialty retailers, distributors, cosmetics wholesalers and salons.
DS Laboratories, its flagship brand, offers high-performance topical solutions to restore growth and radiance to hair, suppress dandruff and unwanted hair, control acne, improve hygiene, and reduce cellulite and wrinkles. Bioavailability is enhanced through Nanosome encapsulation (www.DSLaboratories.com).
The Sigma Skin brand sells through upscale retailers like Neiman Marcus in the United States and Harvey Nichols in the United Kingdom. The topical products address hair loss and other signs of aging. (www.SigmaSkin.com).
Polaris Research Laboratories makes high-potency minoxidil-based hair-growth formulas (www.PolarisReserachLabs.com).
The Pure Guild offers purity with performance: Botanical compounds proven effective in clinical trials are extracted without industrial solvents or damaging heat and are sold through premium retailers (www.ThePureGuild.com).
Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.