Full Press Release Details
Amarillo Biosciences, Inc. Announced Closing under Securities
Purchase Agreement with Majority Investor and Name Change to
TX, April 21, 2021 Ainos, Inc., f/k/a Amarillo Biosciences, Inc.
( we or the Company ), (OTCBB: AMAR), a
company engaged in the discovery and development of pharmaceutical
and biotech products, announced today that it has consummated the
transaction pursuant to that certain Securities Purchase Agreement
( Agreement ) dated December 24, 2020 with a strategic
investor, Ainos, Inc., a Cayman Islands corporation (the
Investor or Ainos KY ) focused on
advanced technology diagnostic medical devices and artificial
intelligence consumer healthcare solutions. Ainos KY develops and
manufactures point-of-care testing ( POCT ) rapid test
kit products that include diagnostics for COVID-19 (SARS CoV2
Antigen Rapid Test), pneumonia, vaginal infection and helicobacter
pylori (H. pylori) bacterial infection. Ainos POCT delivers test
results rapidly utilizing biosensors and artificial intelligence
algorithms for volatile organic compound (VOC)
to the Agreement, the Company issued 100,000,000 shares of common
stock at $0.20 per share to the Investor in exchange for certain
patent assignments, increased its
authorized common stock to 300,000,000 shares, and changed the
Company's name to Ainos, Inc. The
Company's prior directors resigned and seven (7) new
directors were elected by our shareholders. In connection with
the consummation of the transaction, Mr. Chun-Hsien Tsai was
appointed to serve as the Company's Chairman of Board,
President, Chief Executive Officer and Chief Financial Officer and
appointed to serve as the Company's Chief Operating Officer
both effective as of April 15, 2021.
Immediately after the consummation of the transaction including the
issuance of the shares to the Investor, the Investor owned
approximately 70.39% of the issued and outstanding shares of common
stock of the Company.
believe this transaction will help the Company to spearhead
innovation in medical diagnostics and accelerate the
Company's path to product commercialization. I am grateful to
the former Board members including Yasushi Chikagami, Daniel
Fisher, Nicholas Moren, Beatrice Liu and Bernard Cohen, former Vice
President, for their service and dedication to the Company,
said Stephen T. Chen, former Chairman & CEO of the
on the transaction, Mr. Chun Hsien Tsai, who now serves as
of Board, President, Chief Executive Officer and Chief Financial
Officer of the Company, said: This transaction is an
important first and exciting step in further developing the
Company's patent assets for diagnostics and testing for
persistent human diseases.
About the Investor, Ainos, Inc., a Cayman Island
Inc. is a Cayman Islands registered company with offices in Taiwan.
The company is a subsidiary of Taiwan Carbon Nano Technology
Corporation (TCNT) Group, a pioneer in the advanced material
industry, specializing in carbon nanotube and graphene. Ainos KY
develops and manufactures biosensors and diagnostic point-of-care
testing (POCT) rapid test kits that include diagnostics for
COVID-19 (SARS CoV2 Antigen Rapid Test), pneumonia, vaginal
infection and helicobacter pylori (H. pylori) bacterial infection.
Ainos POCT delivers test results rapidly. Powered by a
market-leading volatile organic compound (VOC) AI algorithm and
biosensors manufactured with advanced semiconductor technology,
testing with Ainos POCT only requires volatile organic compounds
from sources including breath. Ainos POCT offers companion mobile
apps, creating new opportunities for telehealth community. The
company is also engaged in the integration of existing
semiconductor technology and carbon diagnostic technology to
establish standardized AI related sensor components which can
be deployed in the fields of biomedicine, IOT (Internet of Things)
and Big Data. Ainos KY owns nearly 30 technical inventions
patent(s) with various applications in consumer healthcare and
medical device products.
About the Company, Ainos, Inc., a Texas Corporation (f/k/a Amarillo
Inc., a Texas corporation (f/k/a Amarillo Biosciences, Inc.) is a
diversified healthcare company engaged in the discovery and
development of pharmaceutical and biotech products. Our goal
is to introduce novel products that actively stimulate and
rejuvenate the human body to combat disease and enhance the ability
to heal. Following the closing of acquisition of certain
patent assets from Ainos, Inc. is a Cayman Islands registered
company, the Company will focus on point-of-care testing rapid test
kit products that include diagnostics for COVID-19 (SARS CoV2
Antigen Rapid Test), pneumonia, vaginal infection and helicobacter
pylori (H. pylori) bacterial infection. The Company currently has
offices in the United States and Taiwan.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
press release contains forward-looking statements
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facts nor assurances of future performance. Instead, they are based
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