BioAdaptives, Inc. Letter to Shareholders Regarding the Reverse Stock Split
Rhea-AI Summary
BioAdaptives (OTC: BDPT) addresses an inadvertent early release of shareholder information regarding an upcoming reverse stock split. The company explains that since January 2020, outstanding shares increased by 6,530% from 18.5 million to 1.23 billion as of June 2024, without corresponding revenue growth. New management, led by CEO James Keener, plans to implement the reverse split alongside a business transformation strategy that includes launching several new products, establishing new distribution channels, and improving marketing efforts with enhanced packaging.
Positive
- New management team with turnaround experience installed
- New product launches planned with improved distribution channels
- Strategic restructuring initiative underway
Negative
- 6,530% share dilution since January 2020 without revenue growth
- Stock trading in sub-penny range
- Previous business plans failed to generate revenue
- Current market conditions require $1.2B valuation to reach $1/share
LAS VEGAS, Oct. 29, 2024 (GLOBE NEWSWIRE) -- via IBN -- Due to a website maintenance error, a draft of a letter to BioAdaptives® (OTC: BDPT) shareholders was made available on the BioAdaptives® website. While the timing was unfortunate, it raised awareness of an upcoming event critical for the long-term health of BioAdaptives®.
On Jan. 1, 2020, BioAdaptives® had 18,576,379 shares of common stock issued and outstanding. Then, stock was traded for funding to raise money to develop business plans, with the money spent on those plans. Unfortunately, the plans did not work, and the process was repeated until the quarterly report ending June 30, 2024, showed 1,231,728,974 common shares issued and outstanding without increasing revenue. That is roughly a 6,
Why is BioAdaptives® planning a reverse stock split?
When the new management took over, it was mutually agreed with past management that a new direction and a reverse split were needed. There was no sense in completing a reverse split until an achievable plan was in place that allowed the company to grow and have substance. Over the next few weeks and months, several outstanding products will be brought to market, and we expect BioAdaptives® to soon see increased revenue followed by profitability. The new CEO, James Keener, has a history of turning around underperforming companies. He stopped everything and changed direction to turn BioAdaptives® around. He moved because he is committed to making BioAdaptives® a genuine company with meaningful revenue, profits and share price.
The new product line has solid science behind it and high efficacy. We will soon be producing new offerings as we fill out our lines of human and animal products.
The marketing plan for our new products is much more comprehensive, with new distribution channels and standout packaging. This reverse is just one crucial step to turning around an underperforming company.
About BioAdaptives
BioAdaptives, Inc. develops and distributes natural herbal-based products that improve health and wellness for humans and animals, with an emphasis on optimizing pain relief, antiviral activity, and immune system defense; stress resistance; endurance; recovery from injury, illness, and exercise; and anti-aging properties. Our current dietary supplement formulations are carefully selected from the best sources worldwide, and proprietary methods are utilized to enhance the bioavailability of nutrients. Our products for horses and dogs have also demonstrated increased general health, competitive performance enhancement, rejuvenation effects, pain relief and improved appearance.
BioAdaptives' common shares trade in the OTC market under the symbol BDPT. None of the statements about our products have been approved by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Additional information can be found at www.shopbioadaptives.com or in our SEC filings.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release, including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the press release date, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date after the date of this press release.
Contact
Investor Relations
BioAdaptives, Inc.
(702) 659-8829
info@bioadaptives.com
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
FAQ
Why is BioAdaptives (BDPT) planning a reverse stock split?
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