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Published in Health and Fitness on Thursday, April 2nd 2009 at 14:42 GMT, Last Modified on 2009-04-02 14:43:04 by Market Wire
IRVING, TX--(Marketwire - April 2, 2009) - DelSite, Inc (
As of the date of the filing of the voluntary bankruptcy petition the trustee assumed jurisdiction over all of the assets of the Company, including all of the outstanding shares of DelSite Biotechnologies, Inc. and Sabila Industrial, S.A., both wholly-owned subsidiaries of the Company. The Company ceased operations effective at the time of the filing and has no ability to continue funding the business operations of DelSite Biotechnologies, Inc. or Sabila Industrial, S.A. The business operations of Sabila Industrial were discontinued on or about January 29, 2009.
The Company was unable to file its Form 10-K Annual Report for 2008 and anticipates that there will be no funds available for distribution to equity holders of the Company.
About DelSite
DelSite, Inc. is an ISO 9001-certified, research-based, biopharmaceutical and consumer products company with a core technology based on naturally occurring complex carbohydrates. DelSite is developing its proprietary GelSite® technology designed to provide controlled release of peptide and protein-based drugs. More than 130 patents protect its technology.
Certain statements in this release concerning DelSite may be forward-looking. Actual events will be dependent upon a number of factors and risks including, but not limited to: subsequent changes in plans by the Company's management; delays or problems in formulation, manufacturing, distribution, production and/or launch of new finished products; changes in the regulatory process; changes in market trends; and a number of other factors and risks described from time to time in the Company's filings with the Securities & Exchange Commission.
