Message #17 From:
NewsBot Date: July 31, 2006 07:00:00 AM
TEDG News Techedge Board Approves Debt Conversion
ISELIN, N.J.--(BUSINESS WIRE)--July 31, 2006--The board of Techedge Inc. (OTCBB: TEDG) has unanimously approved to convert some of its current debt into restricted company shares at open market price. The total debt to be converted is $1,234,502.29 and consists of loans, payments and accrued salaries for the company's key managers. "We are pleased with this debt conversion," said Peter Wang, Chairman and CEO of Techedge Inc. "This debt conversion shows the confidence and commitment of our management team, and will significantly improve the company's financial situation."
About Techedge Inc.
Techedge Inc. is a fast growing developer, producer and distributor of biopharmaceutical products in China. Through its wholly owned subsidiary, China Biopharma Limited, the Company owns the majority interest of Zhejiang Tianyuan Biotech Co., Ltd. The Company's current products consist of human vaccines against influenza, epidemic hemorrhagic fever (HFV), and Japanese Encephalitis (JEV). Through its investment and ownership of local Chinese biopharmaceutical companies, the Company plans to build a leading biopharmaceutical company in China by leveraging its manufacturing and marketing capabilities and introducing advanced technologies, best products, and an experienced management team. With a fast growing market, newly completed production facilities, and several other new vaccines in the pipeline, the Company expects to see steady business growth in the near future. For more information, visit its website at www.techedgeinc.net.
