HONG KONG, Sept. 13, 2010 (GLOBE NEWSWIRE) -- The Board of Directors of Sinobiomed Inc. ("Sinobiomed", or "the Company") (Pink Sheets:SOBM) is pleased to announce that the Company's management, auditors and advisors are working to bring the 2008 and 2009 financial reports back into compliance with the Securities and Exchange Commission.
Should the Company regain compliance with the audits, it will be possible to obtain a listing on a higher tier market such as the OTCBB or OTCQX.
"We are working swiftly to regain compliance with the SEC and file our past due audits and will endeavor to move to a higher tier exchange as soon as practicably possible," said George Yu, newly appointed Chief Executive Officer.
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding Sinobiomed, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiomed expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiomed does not undertake any obligation to update any forward looking statement, except as required under applicable law.
CONTACT: Sinobiomed Inc. INVESTOR RELATIONS Intl. +86 136 0191 6614 U.S. +1 415 830 6210 info@bay2peak.com Room 4304, 43/F China Resources Building 26 Harbour Road Wan Chai Hong Kong