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"The board has great confidence in Mr. MacLellan and the Company's U.S.and China-based teams and we look forward to AMDL's continued success,"commented long-time board member Dr. William Thompson. "Given Mr. MacLellan'sdecisive leadership, personal style, and more than 25 years of extensivebusiness experience in China, Mr. MacLellan is fully prepared to lead AMDL tothe next level. He is well-respected across the industry, specifically inChina where the majority of AMDL's business is currently conducted. Equallyimportant, Mr. MacLellan is highly-regarded by AMDL's U.S. and China-basedteams. He is an absolute perfect fit for this role."
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Mr. MacLellan is transitioning into his new role after nearly 16 years onAMDL's Board. He was appointed to the Board in 1992 and became Chairman ofthe Audit and Governance committees in 2001. Earlier this year he assumed therole of non-executive Chairman serving as an advisor and lead Companyspokesperson for AMDL. He brings extensive international business experienceto his new role, with a special focus on business operations and management inChina where Mr. MacLellan has been actively involved since 1983. He is arecognized authority on Chinese joint venture and wholly foreign ownedenterprise (WFOE) structuring and considered an expert on the China governmentand regulator and compliance system.
Among his other accomplishments, Mr. MacLellan also brings over twentyyears of active board experience to AMDL. With more than 25 years experience,Mr. MacLellan has been a catalyst for the development and financing of globalbusinesses in the United States and throughout the world. Throughout hisprofessional career, he has served on the board of 18 private andpublicly-held companies where he has played an instrumental role in strategicplanning, general operations, corporate finance activities, economic policy,asset allocation and mergers & acquisitions. Additionally, he has helpedraise more than US$715 million in capital for development stage, start-up andmid-cap companies.
Mr. MacLellan received advanced training in classical economic theory andinternational relations from the University of Southern California and was astudent of Arthur Laffer, Ph.D., who later employed him as an economist. Mr.MacLellan has also authored numerous industry-specific research papers,portfolio strategy and economic forecasts over the past 25 years.
"I am tremendously excited for the opportunity to lead AMDL, particularlyduring a time of profound change and unprecedented opportunity. I am focusedand prepared to act decisively to improve our strong competitive position inChina while laying a foundation to aggressively grow the Company beyond statedexpectations," said Mr. MacLellan. I am also pleased to welcome Mr. MichaelBoswell to our Board of Directors as Chairman of AMDL's Audit Committee."
Mr. Boswell is co-founder of the TriPoint family of companies andco-founder and member in TriPoint Capital Advisors, LLC -- a boutique merchantbank focused on small and mid-sized growth companies. He has been active inthe Chinese market since 2000 providing high-level financial guidance andservices to start-up, small and mid-sized companies.
Mr. Boswell also holds executive and CFO positions with client companiesthat include Acting CFO and Director of Edgewater Foods International Inc.(OTC Bulletin Board: EDWT), and Financial Advisor and Consultant to TianyinPharmaceutical Co, Inc. (Amex: TPI) and JPAK Group Inc.(OTC Bulletin Board: JPAK). With TriPoint, Mr. Boswell has assisted numerouscompanies, providing high-level advice related corporate finance, corporatestructure, corporate governance and mergers & acquisitions. Prior to thefounding of TriPoint, Mr. Boswell held senior-level executive positionsfocused on business development and management consulting.
Mr. Boswell holds the Series 24, 82 and 63 licenses and is COO of TriPointGlobal Equities, a FINRA member firm. Mr. Boswell also spent eight years as asenior analyst and engineer in various branches of the United StatesGovernment. He earned his MBA from John Hopkins University and a BS degree inMechanical Engineering from University of Maryland.
About AMDL:
Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, andJilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc.(JPI), is a vertically integrated bio-pharmaceutical company devoted to theresearch, development, manufacturing, and marketing of diagnostic,pharmaceutical, nutritional supplement, and cosmetic products. The Companyemploys approximately 320 people in the U.S. and China. The Company has anadditional 4 pharmaceutical and diagnostic products under review by variousregulatory authorities.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Actof 1995: The statements contained in this document include certain predictionsand projections that may be considered forward-looking statements undersecurities law. These statements involve a number of important risks anduncertainties that could cause actual results to differ materially including,but not limited to, the performance of joint venture partners, as well asother economic, competitive and technological factors involving the Company'soperations, markets, services, products, and prices. With respect to AMDLInc., except for the historical information contained herein, the mattersdiscussed in this document are forward-looking statements involving risks anduncertainties that could cause actual results to differ materially from thosein such forward-looking statements. Potential risks and uncertainties relatedto the Company's access to additional capital, competition and dependence onkey management.AMDL Contact: Kristine Szarkowitz Director-Investor Relations [email protected] (M) (206) 310-5323
SOURCE AMDL, Inc.
