MILFORD, Pa., Sept. 17, 2014 /PRNewswire/ -- Fortune Oil
and Gas, Inc. (OTCPink:FOGC), today announced that it has
officially changed its name to Manzo Pharmaceuticals, Inc. with the
symbol (OTCPink : FOGCD). FINRA approved the change to take effect
today, September 17, 2014. Also
taking effect today is a ten for 1 reverse split.
The approval is a pivotal event in the company's progress
according to CEO, Kenneth Manzo. Mr.
Manzo explained, "We could not proceed with the plan and still have
any level of success without these changes approved. Making major
advancements in the treatment of medical conditions and illnesses,
we had to hold off with public announcements because the company
name would not have made sense, and would have taken away from
branding and marketing efforts that are so critical at these stages
of the company's growth. I did originally say there would be no
unnecessary dilution or reverse splits, and even though I did mean
it wholeheartedly, it became clear that a reverse split was going
to be absolutely necessary and unavoidable if we were to become
successful. So, with the shareholder in mind, I did as small a
reverse-split as I could, giving the shareholder one share
post-split for every ten shares they held previously. A factor of
ten will allow us to have some control over the float, and still
offer shareholders a minimal price increase which hedges against a
huge drop as we move forward." He went on to further explain, " I
know it is not a popular decision, but with the advancements we
have in the queue, the incredible life-changing probiotics
currently undergoing testing, and the very minimal need to do
future issuances, there is no doubt in my mind that the company now
has a real chance for success and a tremendous up-side moving
forward."
According to the FINRA notification, the name change and reverse
split take effect today, September 17,
2014, with the Symbol changing to FOGCD temporarily, and
then to MNZO on October
14th. Now that the company is operating as Manzo
Pharmaceuticals, Inc. a strategy for releasing current development
to the public is being put together and shareholders should expect
many developments in the very near future. On top of the list is
the company's patent pending probiotic for people who suffer from
lactose intolerance but many other products, partnerships, and
developments have been being worked on over the past two months.
The new technology that enables the probiotic to curb lactose
intolerance symptoms has many applications, putting Manzo
Pharmaceuticals in the position of developing and licensing that
technology creating solutions that could put the company on the
map.
About Manzo Pharmaceuticals, Inc.
Manzo Pharmaceuticals, Inc. is a specialty pharmaceutical
company engaged in the research, development, and testing of
patented and non-patented solutions and remedies. Most notably is a
patented solution for lactose Intolerance, and a natural remedy for
colic in babies. For more information follow the company on twitter
at @manzopharma, and visit www.manzopharma.com.
DISCLAIMER:
This Press Release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The Company has tried, whenever possible, to
identify these forward-looking statements using words such as
"anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential" and similar expressions. These statements
reflect the Company's current beliefs and are based upon
information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause the Company's
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company
undertakes no obligation to update or advise in the event of any
change, addition or alteration to the information catered in this
Press Release including such forward-looking statements.
SOURCE Fortune Oil and Gas, Inc.