WESTLAKE VILLAGE, Calif., April 26, 2004 (PRIMEZONE) -- QT 5, Inc. (OTCBB:QTFI), manufacturer, distributor and marketer of biomedical products, today announced that its board of directors will effect a reverse split of the company's common stock at a ratio of one-for-ten to bolster its share price. This action follows approval by QT 5's shareholders at the company's special meeting held on April 19, 2004.
The reverse stock split will be effective at the opening of business on Monday April 26, 2004. The company's common stock will begin to trade on the over-the-counter bulletin board adjusted for the reverse split under the new ticker symbol of "QTFI."
The reverse stock split will reduce the number of common shares outstanding from approximately 165,900,000 to 16,590,000.
About QT 5, Inc.
QT 5, Inc. is a Delaware corporation formed in April 1999 as a manufacturer, distributor and marketer of Bio-Med testing products. QT 5, Inc. is currently engaged in the development and introduction of Drug Stop, a rapid urinalysis test for drugs of abuse; FDA cleared for professional and over-the-counter use, as well as its Target System(tm) Diagnostic platform that tests for infectious diseases and medical conditions; FDA cleared for professional use only. In addition, the Company markets Xact Aid first-aid products for over-the-counter sales. The company continues to do research and development regarding future products for lifestyle enhancements. QT 5, Inc. is headquartered in Westlake Village, California. For more information on the Company please visit: www.qt5inc.com.
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or prove incorrect, could cause the results of QT 5, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the reports filed by QT 5, Inc. with the Securities and Exchange Commission. QT 5, Inc. assumes no obligation and does not intend to update these forward-looking statements.