Business
TNI BioTech, Inc. Cancels Proposed Reverse Split of its Common Stock
TNI BioTech, Inc. Cancels Proposed Reverse Split of its Common Stock.
About this update from Biostax Corp.
[{"type":"text","content":"\n\n\n\nTNI BioTech, Inc. Cancels Proposed Reverse Split of its Common Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTNI BioTech, Inc. Cancels Proposed Reverse Split of its Common Stock\nPR Newswire\nORLANDO, Fla., June 24, 2014\n\n\n\nORLANDO, Fla., June 24, 2014 /PRNewswire/ -- TNI BioTech, Inc. (OTC: TNIB) (\"TNI\" or the \"Company\") a biotechnology company pioneering the development of innovative therapies for autoimmune diseases by combating these fatal diseases through the activation and modulation of the body's immune system, announced today that its Board of Directors had passed a resolution cancelling the previously announced 9:10 reverse split of its common stock, as per the 14A Information Statement filed with the Securities and Exchange Commission on June 18, 2014, and accordingly will notify all appropriate regulatory authorities that the reverse split is withdrawn.\n\nNoreen Griffin, President and CEO, said, \"We have become increasingly aware that putting into effect the 9:10 reverse split of our common stock has had a mixed reaction from our shareholders. Therefore, the Board of Directors has decided that, for the benefit of our shareholders, we should cancel the reverse split and let the stock rise on its own merit while we continue to focus on increasing the value of our stock by the growth of our business.\" \n\nAbout TNI BioTech, Inc.\n\nTNI BioTech, Inc. is a biotech company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases.\n\nOur proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met-enkephalin (\"MENK\") (sometimes referred to as opioid growth factor (\"OGF\")) and our Low Dose Naltrexone product (\"LDN\"),...