Spencer Pharmaceutical Inc. provided supplemental information to its shareholders today further numerous questions.
According to the company, several shareholders have requested more information and or clarification on the offices of the company, its research, its Regulatory approval, the unsolicited offer, the accounting, cash balance and many other elements of the company.
"We have decided that in order to be truly transparent with our shareholders and stakeholders that several items and issues needed to be addressed," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "We want to build a long-term partnership with our shareholders and it is the only way we will build a sustainable business," further added Dr. Arella.
Offices The company received numerous questions regarding its corporate offices. The company has a lease with a business center at 8 Faneuil Hall Marketplace, in Boston. This address is the legal U.S. address for the company and may eventually become its permanent and physical address in the future. It should be noted that the management of the company does not work out of this legal address, but in the laboratory of the University of Quebec in Montreal as well as in Ottawa, Canada. This is therefore keeping the operating cost to a minimum.
The company needed a US address since the company is a Delaware corporation as well as being listed on a US exchange. Boston was chosen because of its concentration of bio-technology companies and related investment funds.
Shareholders are welcome to call the company to schedule a visit of the Montreal Laboratories where the research is being conducted. In addition, the company will setup a separate hotline to answer any and all questions from shareholders and the media as it relates to publicly released information and or common knowledge information about the company and its products.
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