BEIJING, Dec. 14, 2006 (PRIME NEWSWIRE) -- S.E. Asia Trading Company, Inc. (OTCBB:SEAA) officially changed its name and stock symbol effective December 14, 2006, the official company named changed to Lotus Pharmaceuticals, Inc. and stock symbol to (OTCBB:LTUS).
Dr. Li Zhongyi, Chairman and CEO of Lotus Pharmaceuticals, Inc., announced that the Company's official name and stock trading symbol had been approved and changed in accordance with Securities & Exchange Commission regulations.
Only 10 days ago, Lotus Pharmaceuticals, Inc. (OTCBB:LTUS) released its 3rd quarter earnings report, for the period ended September 30, 2006. The company's unaudited 10-QSB filing, for the three months ended September 30, 2006, the Beijing pharmaceutical company reported net revenues of $8.7 million and profits exceeding $1.4 million for the quarter.
Today's symbol change more accurately conveys the activities and brands of the operating company, Lotus Pharmaceuticals, Inc.
About S.E. Asia Trading Company, Inc.
S.E. Asia Trading Company, Inc. operates through its wholly-owned subsidiary, Lotus Pharmaceuticals International, Inc. ("Lotus"). Lotus has agreements with Liang Fang Pharmaceutical, Ltd. ("Liang") and En Zhe Jia Shi Pharmaceutical, Ltd. ("En Zhe"), two Chinese pharmaceutical companies located in Beijing, to manage all of their businesses and to control Liang and En Zhe. Liang and En Zhe form a large comprehensive enterprise, which deals in an integration of the production, trade, sales and marketing of pharmaceuticals. Together, they possess one of the most advanced pharmaceutical-production equipment used in China, workshops authenticated by the National GMP, a suite of various medicines produced by Liang and/or En Zhe (together, "Lotus East"), and a large number of high-tech personnel. Lotus East has business and office facilities of 2,000 square meters and a warehouse of 1,000 square meters. Lotus East performs scientific research on new medicines, and the production, wholesale and retail sale of medicines. For more information, visit www.LotusEast.com.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.