XI'AN, Shaanxi, China -- Allstar Restaurants (OTC Bulletin Board: AREN) ("Allstar" or rolex replica the "Company"), today announced that effective on February 12, 2010, the Company鈥檚 wholly-owned subsidiary merged with China Qinba Pharmaceuticals, Inc.
China Qinba Pharmaceuticals, Inc. has its headquarters in the City of Xi鈥檃n, Shaanxi Province, China. The Company identifies, discovers, develops, manufactures and distributes both prescription and over-the counter, including both conventional and Traditional Chinese Medicines, pharmaceutical products for the treatment of some of the most common ailments and diseases. We currently manufacture 85 pharmaceutical products in the form of capsules, oral solutions, tablets, granules, syrups, medicinal teas, tincture and solutions for injection that are either small volume parenteral solutions that are freeze dried powders or large volume parenteral solutions. China Qinba Pharmaceuticals, Inc.鈥檚 manufacturing facilities are based in Hanzhong and the Xi鈥檃n Jinghe Industrial Zone, both in Shaanxi Province.
In the Merger Transaction, through our wholly-owned subsidiary Allstar Acquisitions Co., we acquired control of China Qinba Pharmaceuticals, Inc. a Delaware corporation and the parent company of Xi-an Development Co., Ltd., a wholly foreign-owned enterprise organized under the laws of the People鈥檚 Republic of China, which controls Xi鈥檃n Pharmaceuticals Co. Ltd., a company organized under the laws of the People鈥檚 Republic of China, by issuing to the all of the China Qinba Pharmaceuticals Shareholders shares of our common stock as consideration for all of the outstanding capital stock of China Qinba Pharmaceuticals. Founded in 1969, Xi鈥檃n Pharmaceuticals Co. Ltd. is engaged in the research and development, manufacturing, packaging, marketing and distribution of pharmaceutical products in China.
The Company also announces the filing of a Schedule 14f-1 with the Securities and Exchange Commission whereby Mr. Terry Bowering shall resign as a member of the Board of Directors of the Company, and Tao Lei, Zaizhi Cheng, Xiaogang Zhu and Michael Segal shall be duly appointed to the Board of Directors of Allstar Restaurants upon the expiration of the ten day period following the mailing of the Schedule 14f-1 to the Company鈥檚 shareholders of record.
Pursuant to the Merger Agreement, the Company will use its commercially reasonable efforts to effect a name change from Allstar Restaurants to China Pharmaceuticals Inc.
Mr. Guozhu Wang, Chairman and CEO said, 鈥淲e are very pleased to announce the completion of our merger with Allstar Restaurants. We are very positive about the growth potential of the pharmaceutical industry in China and our company鈥檚 growth prospects as we continue to strive to become a market leader.鈥?Mr. Guiping Zhang, President stated, 鈥淲e have reached a major goal with having our Company鈥檚 shares quoted on the OTC Bulletin Board in the United States which will allow us to broaden our investor base, create a liquid market for our stock, and financially support the accelerated growth of our business as we strive to become a leader in the pharmaceutical industry in China.鈥?
replica breitlingAbout China Qinba Pharmaceuticals, Inc.
China Qinba Pharmaceuticals, Inc. has its headquarters in the
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