Full Press Release Details
RETRACTABLE TECHNOLOGIES, INC. DECLARES DIVIDENDS TO
SERIES I AND II CLASS B SHAREHOLDERS
LITTLE ELM, Texas, May 11, 2010 Retractable
Technologies, Inc. (NYSE AMEX: RVP) announced today that its Board of
Directors has declared dividends to holders of Series I Class B and Series II
Class B Convertible Preferred Stock in the amount of $216,000 and
$660,555, respectively. Dividends have
accrued at 10% per annum and cover amounts in arrears from June 30, 2007
through date of conversion or June 30, 2010, whichever is applicable. The dividends will be paid on July 15,
2010 to shareholders of record as of the close of business on June 30,
manufactures and markets safety medical products, principally VanishPoint automated
retraction safety syringes, automated retraction blood collection devices, and
automated retraction IV catheters, that virtually eliminate healthcare worker
exposure to accidental needlestick injuries. These revolutionary devices use
patented technology that causes the contaminated needle to retract
automatically, a feature that is designed to prevent both accidental
needlestick injury and device reuse. Retractable also manufactures and markets
Patient Safe syringes that are uniquely designed to reduce
the risk of bloodstream infections resulting from catheter hub contamination.
Patient Safe s unique luer guard reduces the risk of
luer tip contact contamination and the risk of contamination of intravenous
fluid. Retractable s products are distributed by various specialty and general
line distributors. For more information on Retractable, visit our website at
statements in this press release are made pursuant to the safe harbor provision
of the Private Securities Litigation Reform Act of 1995 and reflect our current
views with respect to future events. We believe that the expectations reflected
in such forward-looking statements are accurate. However, we cannot assure you
that such expectations will materialize. Our actual future performance could
differ materially from such statements.
that could cause or contribute to such differences include, but are not limited
to: our ability to maintain liquidity; our maintenance of patent protection;
the impact of current litigation (as it affects our costs as well as market
access); our ability to maintain favorable supplier arrangements and
relationships; our ability to receive royalties from Baiyin Tonsun Medical
Device Co., Ltd.; our ability to quickly increase capacity in response to an
increase in demand; our ability to access the market; our ability to maintain
or lower production costs; our ability to continue to finance research and
development as well as operations and expansion of production; the increased
interest of larger market players, specifically Becton Dickinson and Company,
in providing devices to the safety market; and other risks and uncertainties
that are detailed from time to time in Retractable s periodic reports filed
with the U.S. Securities and Exchange Commission.
Vice President and Chief
(888) 806-2626 or (972)