SOURCE: American CryoStem Corporation

April 28, 2011 17:27 ET

American CryoStem Announces Asset Sale

RED BANK, NJ--(Marketwire - Apr 28, 2011) - American CryoStem Corporation (PINKSHEETS: AMCY) announced today that on April 20, 2011 R & A Productions, Inc. (OTCBB: RAPP) purchased substantially all of the assets from, and assumed substantially all of the liabilities of, AMCY in exchange for the issuance by RAPP to AMCY of 21,000,000 shares of RAPP's restricted common stock, resulting in AMCY becoming the majority shareholder of RAPP. Contemporaneously with the asset purchase closing, RAPP sold, in a private placement made solely to accredited investors, 1,860,000 shares of its restricted common stock for gross proceeds of $930,000.

Mr. Anthony Dudzinski, the CEO of AMCY, stated, "Because RAPP is a publicly traded reporting company, we believe that the sale of AMCY's assets to RAPP for 21,000,000 shares of RAPP common stock will enhance our shareholders' value."

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors including, but not limited to, the stem cell industry, RAPP's stock price and trading volume, general economic conditions, RAPP's business success and or failure, and its continued development of the assets it acquired from AMCY, the financial position of RAPP and RAPP's ability to successfully commercialize the business it acquired from AMCY when it acquired AMCY's assets.

Contact Information

  • For More Information, contact:

    Investor Relations
    American CryoStem Corporation
    188 East Bergen Place, Suite 204
    Red Bank, NJ 07701
    Phone: 732-747-1007
    Fax: 732-747-7782