CalciTech Ltd. (OTCBB:CLKTF) CalciTech announces that its Annual General Meeting was held in Bermuda on 30
th December 2010.
The financial statements for the year ended December 31, 2009 presented to the shareholders, showed the Company contained and reduced overhead costs from $1,197,000 to $954,000 resulting in a reduction of net loss to $1,081,000 from $2,025,000. Interest charges decreased substantially from $791,263 to $103,311 as a result of the debt reorganisation. Development of both projects and products resulted in the further capitalisation of $1,127,075.
More than 64% of the Company’s shareholders voted by proxy at the meeting and approved all the resolutions tabled in the proxy statement sent to shareholders on the register on November 29, 2010.
The directors of the company take responsibility for this announcement.
This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits.
It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission.