American CryoStem Announces Asset Sale
28 Abril 2011 - 6:27PM
Marketwired
American CryoStem Corporation (PINKSHEETS: AMCY) announced today
that on April 20, 2011 R & A Productions, Inc. (OTCBB: RAPP)
purchased substantially all of the assets from, and assumed
substantially all of the liabilities of, AMCY in exchange for the
issuance by RAPP to AMCY of 21,000,000 shares of RAPP's restricted
common stock, resulting in AMCY becoming the majority shareholder
of RAPP. Contemporaneously with the asset purchase closing, RAPP
sold, in a private placement made solely to accredited investors,
1,860,000 shares of its restricted common stock for gross proceeds
of $930,000.
Mr. Anthony Dudzinski, the CEO of AMCY, stated, "Because RAPP is
a publicly traded reporting company, we believe that the sale of
AMCY's assets to RAPP for 21,000,000 shares of RAPP common stock
will enhance our shareholders' value."
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain of the
statements contained herein, which are not historical facts, are
forward-looking statements with respect to events, the occurrence
of which involve risks and uncertainties. These forward-looking
statements may be impacted, either positively or negatively, by
various factors including, but not limited to, the stem cell
industry, RAPP's stock price and trading volume, general economic
conditions, RAPP's business success and or failure, and its
continued development of the assets it acquired from AMCY, the
financial position of RAPP and RAPP's ability to successfully
commercialize the business it acquired from AMCY when it acquired
AMCY's assets.
For More Information, contact: Investor Relations American
CryoStem Corporation 188 East Bergen Place, Suite 204 Red Bank, NJ
07701 Phone: 732-747-1007 Fax: 732-747-7782
www.americancryostem.com
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