SOURCE: ONE Bio, Corp.

June 01, 2011 08:00 ET

ONE Bio First Company With China Operations to Make State Administration of Taxation Filings Public to Investors

MIAMI, FL--(Marketwire - Jun 1, 2011) - ONE Bio, Corp. ("ONE" or the "Company") (OTCBB: ONBI), an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural and health supplements and organic products, today announced it has made its State Administration of Taxation ("SAT") filings available to investors.

The SAT is a ministerial-level department within the government of the People's Republic of China that is responsible for the collection of taxes. ONE's operating subsidiaries in China, Sanming Huajian Bioengineering Co., Ltd., Jian'ou Lujian Foodstuff Co., Ltd., Fuijian Green Planet Bio-engineering Co., Ltd., and Fuijian Green United Bamboo Technology Co., Ltd., each report individually to the SAT. Various differences between Chinese GAAP, as required by the SAT, and U.S. GAAP, as required by the SEC, require reconciliation of the filings for comparison purposes. Tax filings made with the SAT are based on audited financial data.

The Company's SAT filings, including corresponding U.S. GAAP reconciliation documents prepared by the Company and reviewed by its accounting firm, through 2009, are available at the following link:

http://redchip.com/visibility/investor.asp?symbol=ONBI

The Company also intends to make its 2010 SAT filings public in the near future.

Marius Silvasan, ONE's CEO, stated, "We understand the market's concern over the veracity of filings for companies with operations in China. We are pleased to address these concerns by making our historical SAT filings, which are materially in line with our SEC filings, available for the investment community to review. We have also included reconciliation information for the first nine months of 2010 and will make available our 2010 SAT filings as soon as they are completed in the coming weeks."

About ONE Bio, Corp.
ONE Bio, Corp. ("ONE") (OTCBB: ONBI) (www.onehcorp.com), headquartered in Miami, FL, is an innovative company utilizing patented green process manufacturing to produce raw chemicals and herbal extracts, natural supplements and organic products. ONE is focused on the Asia Pacific region and the United States. Key products include widely recognized Solanesol, CoQ10, Resveratrol and 5-HTP, organic fertilizers, and organic bamboo health food and beverages. ONE has experienced solid organic growth driven by a robust demand for its products in China, Japan and the United States.

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). ONE Bio, Corp. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new companies and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and ONE Bio, Corp. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Contact Information

  • Company Contact:
    Marius Silvasan
    CEO
    Tel. + 786-288-3488
    Email: msilvasan@onehcorp.com

    Investor Relations Contact:
    Chris Schilling
    RedChip Companies, Inc.
    Tel: +1-800-733-2447, Ext. 131
    Email: info@redchip.com