EFT BioTech Holdings, Inc. Files Form 10 With the SEC Including Audited Financials for 2006 and 2007
$21.1 Million Net Income for Fiscal Year Ended March 31, 2008 With EPS of $0.34 vs. $10.1 Million Net Income for 2006 With EPS of $0.17 for Prior Fiscal Year
CITY OF INDUSTRY, CA and HONG KONG--(Marketwire - December 11, 2008) - EFT BioTech Holdings, Inc. (PINKSHEETS: EFTB) today announced it has filed Form 10 with the SEC including its audited financial results for the Company's fiscal year end March 31, 2008 and 2007 and unaudited results for the six-month period ending September 30, 2008 and 2007.
The SEC has to approve Form 10, which may take one or more amendments, if any, before the Company is deemed to be an Exchange Act reporting company. After the SEC approves Form 10, the Company will solicit a broker-dealer to apply to FINRA to be a market maker of the Company's common stock.
"We are pleased to report our long awaited audited financials as we become a fully reporting company and look forward to delivering shareholders enhanced return on equity on the numerous opportunities that our business's cash flow has created," commented Jack Qin, President and CEO of EFT BioTech Holdings.
The Company's Form 10 can be viewed free of charge on the SEC's website, www.sec.gov.
About EFT BioTech Holdings, Inc.
EFT BioTech Holdings, Inc. is a Nevada holding company which conducts its business through the operations of its wholly-owned subsidiary, EFT Biotech, Inc., and its wholly-owned subsidiaries and various vested interests. EFT BioTech, Inc. is an import-export Business-to-Customer, or B2C, company that markets, sells and distributes 43 American brand products consisting of 22 nutritional products, 18 personal care products, 2 automotive fuel additives, 1 home product and a portable drinking container. It markets and sells its products through an internet platform which consists of the Company selling its products directly to members of its Affiliate program through its website, www.eftb.us, for personal use or resale directly to consumers. Although our products are available for sale throughout the world, most Affiliates and consumers are located in China and Hong Kong. The contents of the Company's website are not incorporated by reference herein.
Safe Harbor for Forward-Looking Statements
Statements made in this release with the respect to the Company's current plans, estimates, strategies and beliefs and other statements that are not historical are forward-looking statements. Forward-looking statements include, but are not limited to, those statements using words such as "believe," "expect," "plans," "strategy," prospects," "forecast," "estimate," "project," "anticipate," "aim," "may" or "might" and words of similar meaning in connection with a discussion of future operations, financial performance, vents or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions and belief in light of the information currently available to it. The company cautions you that a number of important risks and uncertainties could cause actual results to materially differ from those discussed in the forward-looking statements, and therefore, you should not place undue reliance on them. You also should not rely on any obligation of the Company to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The company disclaims any such obligation unless required by law. Risks and uncertainties that might affect the Company include, but are not limited to (i) the global economic environment in which the Company operates, as well as the economic conditions in the Company's markets, (ii) levels of consumer spending, and (iii) exchange rates, particularly between the Chinese Yen and the U.S. Dollar. Risks and uncertainties also include the impact of any future events with material adverse impacts.