KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Biofield Corp.
(OTC Bulletin Board: BZET - News), filed a preliminary information statement (Form PRE 14C) with the SEC on April 2, 2008, reporting that its board of directors and majority shareholder have authorized the amendment of the Company’s Articles of Incorporation to effect an 1 for 10 reverse split of Biofield's Common Stock. The Board believes that the proposed reverse stock split will benefit the Company by increasing the per share market price of its common stock, which is a factor in whether the Common Stock meets investing guidelines for certain institutional investors and investment funds, although there is no assurance that the market price will increase. The SEC has 10 days from the April 2 filing date to comment on the Information Statement. If there are no comments within that 10-day period, the Company will mail the Information Statement to shareholders and the reverse split is anticipated to be effective 20 days from the mailing date. For more information about the reverse split, see our filed Information Statement at http://www.sec.gov/Archives/edgar/data/1007018/000112178108000155/ biofield14c4208v2.htm. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
To help ongoing strategic initiatives in Asia, we and our master licensee, MacKay Group Limited, have opened an office in Hong Kong. This office oversees and is responsible for our ongoing demonstrations and our sales, regulatory, and other strategic initiatives in Asia, including the People’s Republic of China, Hong Kong, Taiwan, India, the Philippines, Japan, Indonesia, South Korea, Vietnam, Singapore, and Malaysia. These countries represent a significant percentage of the world’s female population. The new office is located at 3412, China Merchants Tower, 168-200 Connaught Road, Sheung Wan, Hong Kong, phone number (852) 2549-0633. We will post pictures of the new office and other information on our and MacKay Group’s website.
The new office is headed by David Hong, who will head Biofield operations for all of Asia. Educated in the United States and England, Mr. Hong previously helped oversee distribution, sales and business development for Asian and multinational companies in a variety of diverse industries in the People’s Republic of China, Hong Kong, Macau, Taiwan, Philippines, Thailand, Malaysia, Indonesia, Japan and the United States, serving as CEO, a board member, director for the Asian-Pacific Region, director for business development, and other capacities. He helped oversee distribution, sales, promotions, and business development in the Asian-Pacific Region for such companies as 7-Eleven, KFC, Sands, 3M, Audi, Budweiser, Citibank, J. Walter Thompson, and Nestle, among others. He was also a licensed financial controller within the insurance industry for more than 10 years, and has extensive logistic management experience. Mr. Hong is working with significant contacts within the Chinese healthcare industry, including Chinese health and other officials, hospitals, doctors, pharmaceutical and insurance companies to promote and demonstrate Biofield’s technology. |
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