Burbank, CA - (NewMediaWire) - July 29, 2021 - Medolife Rx, Inc.("Medolife"), a global integrated biopharmaceutical company with R&D, manufacturing,and consumer product distribution, which is a majority owned subsidiary ofQuanta, Inc. (OTC PINK: QNTA), today cancelled an optional reverse split ofshares that was included in a recent 14C filing.
After consultation withlegal counsel, the Board of Directors and management have concluded that it isin the best interest of the company and its shareholders to cancel the optionto do reverse split of shares which was included in the 14C filed on 6/21/21.An 8K will be filed later today confirming this cancellation.
“We take the responsibilitywe have to our shareholders very seriously and believe this to be the bestcourse of action for our company,” said Medolife CEO Dr. Arthur Mikaelian. “Weheld a very informative webcast on Tuesday 7/27 where we covered many of theexciting things that are happening with our company, and we highly encourageour followers to take a moment to watch it. We are in the process of building aglobal biotechnology company and our future could not be brighter. Thank you tothe investment community for its continued support and we look forward tosharing further updates with you all soon.”
The Company recently hostedan extensive investor webcast, featuring many videos and visuals, where managementaddressed many questions submitted from investors. Representing theCompany on the webcast was Company CEO Dr. Arthur Mikaelian; its CFO, Mr. ClemPascarella; Maggie Dumais, who manages marketing and brand development; boardmember Steve Winter, who manages social media and communications; and thedirector of the Company’s distribution partner Xoles, Christopher Rullien.
A replay of the webcast canbe found here: https://aeliastore.com/investor-news/medolife-rx-investor-webcast-7-28-21/
Investors are encouraged toreach out to ir@medolife.com to have individual questions addressed.
AboutMedolife Rx
Medolife Rx, Inc. is a globalbiotechnology company with operations in clinical research, manufacturing, andconsumer products. Medolife Rx was created through the merger of Medolife, aprivate company founded by Dr. Arthur Mikaelian who pioneered the unlayingpolarization technology that makes the Company’s portfolio of pharmaceuticaland nutraceutical products so effective, and Quanta, Inc., a direct-to-consumerwellness product portfolio company. The Company’s lead clinical developmentprograms include Escozine®, a proprietary formulation consisting of smallmolecule peptides derived from Rhopalurusprinceps scorpions, which is amplified by the Company’s polarizationtechnology and is being researched as a treatment of various indications,including COVID-19 and cancer. The Company has completed preclinical safety andefficacy research on Escozine® and is pursuing product registration and drugapproval in various countries, including the United States and throughout LatinAmerica.
Through itssubsidiary QuantRx,Medolife manufactures and distributes consumer wellness products in high-impactconsumer areas such as pain relief, beauty, and general wellness. QuantRxproducts are designed using Dr. Mikaelian’s polarization technology, whichapplies advances in quantum biology to increase the potency of activeingredients. Ultimately, Quanta's mission is to deliver better, more effectiveingredients to elevate product efficacy, reduce waste, and facilitatehealthier, more sustainable consumption.
Beyond its ownclinical and consumer applications, the polarization technology used byMedolife and its subsidiaries has many potential applications. Frompotentiating bio-ingredients, to producing more-effective carbon-trappingplants, to transformative anti-aging solutions, Medolife has the opportunity toupend how commercial and pharmaceutical products are made and increase their benefits,while decreasing their chemical concentration.
Forward-LookingStatements
Safe Harbor Statement under the U.S. Private SecuritiesLitigation Reform Act of 1995: This release contains statements that areforward-looking in nature which express the beliefs and expectations ofmanagement including statements regarding the Company's expected results ofoperations or liquidity; statements concerning projections, predictions,expectations, estimates or forecasts as to our business, financial andoperational results and future economic performance; and statements ofmanagement's goals and objectives and other similar expressions concerningmatters that are not historical facts. In some cases, you can identifyforward-looking statements by terminology such as "anticipate,""estimate," "plan," "project,""continuing," "ongoing," "expect," "webelieve," "we intend," "may," "will,""should," "could," and similar expressions. Such statementsare based on current plans, estimates and expectations and involve a number ofknown and unknown risks, uncertainties and other factors that could cause theCompany's future results, performance or achievements to differ significantlyfrom the results, performance or achievements expressed or implied by such forward-lookingstatements. These factors and additional information are discussed in theCompany's filings with the Securities and Exchange Commission and statements inthis release should be evaluated in light of these important factors. Althoughwe believe that these statements are based upon reasonable assumptions, wecannot guarantee future results. Forward-looking statements speak only as ofthe date on which they are made, and the Company undertakes no obligation toupdate publicly or revise any forward-looking statement, whether as a result ofnew information, future developments or otherwise.
Contacts:
ir@medolife.com
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