Message #37 From:
NewsBot Date: December 22, 2006 05:30:00 AM
EVSC News Endovasc Announces Results from Annual Shareholders' Meeting
MONTGOMERY, Texas--(BUSINESS WIRE)--Endovasc, Inc. - (OTCBB: EVSC),
a Business Development Company focused on acquiring and investing in
companies engaged in the development of innovative cardiovascular and
metabolic drugs as well as nutraceutical supplements, announced results
from the Company’s Annual Meeting of
Stockholders held on December 21, 2006.
The Company is pleased to report that shareholders reelected both Dr.
Diane Dottavio and Mr. Donald Leonard to its Board of Directors for
additional three-year terms and approved McConnell & Jones LLP as the
Company’s independent public accounting firm.
The third issue, pertaining to amending the Certificate of Designation
of Powers, Preferences, Limitations, and Relative rights for the Series
NDC stock to permit the redemption by the Company, did not pass. While
the amendment received enough votes to constitute a quorum and received
approval by a majority of the shareholders that voted, it did not
receive the required majority of all of the outstanding shares of the
Series NDC Stock.
“While we were extremely pleased with the
voting results to reelect both Directors as well as the approval of the
Company’s independent Accountants, we are
disappointed that once again, the shareholders of the Series NDC
tracking stock did not return enough votes to ensure that the proposed
amendment to the Certificate of Designations Powers, Preferences,
Limitations, and Relative rights for the Series NDC Stock would pass.
The Company’s Board of Directors will evaluate
its options regarding this item over the next several weeks,”
commented Dr. Diane Dottavio, President and Chief Executive Officer of
Endovasc, Inc.
About Endovasc, Inc.
Endovasc, Inc. is focused on investing in private companies that develop
and commercialize drug candidates in the areas of cardiovascular and
metabolic medicine. Endovasc is organized as a business development
company, and has invested in the following subsidiaries: Liprostin Inc.,
which holds the intellectual property for a liposomal based treatment to
increase circulation and reduce leg pain in patients suffering from
vascular disease; Prostent, Inc., which is developing a stent coating
technology; and Nutraceutical Development Corporation, which has
developed marketed technology to increase muscle mass.
For more information about Endovasc, please visit www.endovasc.com.
Safe Harbor Statement
The foregoing statements are made under the "Safe Harbor" Private
Securities Litigation Reform Act of 1995 and may contain forward-looking
statements that involve risks and uncertainties that may not be evident
at the time of this release.
