Business
Rafarma Pharmaceutical news update
Rafarma Pharmaceutical news update.
About this update from Rafarma Pharmaceuticals, Inc. (wy)
[{"type":"text","content":"\n Russia, Moscow, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals (OTC: RAFA). The Company is pleased to announce that it has completed the restructuring, accounting and balance sheet procedures required to comply with GAAP auditing standards. Due to the changed geopolitical situation, the company was unable to complete the review of some of the assets that were set for audit consolidation, namely Kraspharma and Bebig. The Company will continue to provide its shareholders with regular unaudited financial statements of Kraspharma and Bebig. Once the geopolitical climate changes, the company intends to complete the audit of these two assets and add them to the consolidated audited accounts. Meanwhile, the company is working on and acquiring several assets and projects located in Kazakhstan, Israel, El Salvador, Sri Lanka and Hong Kong. The company is currently working with its auditor and will submit standard GAAP audit reports that will include the acquired assets. Announcements will also be made in the near future describing newly acquired assets and projects in which the company is involved. New acquisitions will not dilute the current assets of the company's shareholders. The recapitalization of the company will be carried out through preferred shares. Our goal is to restructure the company to expand our products and manufacturing capabilities into global markets while maintaining the original scale of operations. We are going to focus on medical research and development, both in terms of devices and drugs. In addition, we are interested in creating partnerships to continue to benefit from new product launches. We hope to use the resulting innovative products to create a global innovative company worth at least $2 billion by the end of 2025. After assessing market changes and ongoing research projects in recent years, the company's development directions until 2028 were formed. Its portfolio includes nuclear medicine, biotechnology products, SMART packaging, and biotechnology research and development. Below is the company's strategy for 2023-2028: 1. Transfer of projects and experience to open markets. Instead of unsafe transactions with Russian assets, we transferred our experience to more stable markets. Production lines are moving to Hong Kong, Kazakhstan, South Korea, El Salvador and Sri Lanka; 2. Stopping the p...