FORBES MEDI-TECH ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER ENDED
JUNE 30, 2010
VANCOUVER, BC – Forbes Medi-Tech Inc. (OTCBB:FMTI) (“Forbes” or “Company”) today announced its
results for the second quarter ended June 30, 2010. The comparative period for these results is the three and six-
month periods ended June 30, 2009. All amounts are in Canadian Dollars unless otherwise noted.
l 2010 OVERVIEW:
In January 2010, the Company received a Nasdaq Staff Deficiency Letter indicating that it did not meet The
NASDAQ Capital Market initial listing standard and its common shares were subject to suspension. The
Company provided the NASDAQ with a notice of appeal of the Nasdaq Staff Deficiency determination to a
In February 2010, the Company received notification that a NASDAQ Listing Qualifications Panel has
determined to delist the Company's common shares from The NASDAQ Stock Market, effective February 18,
2010. With the delisting, the Company’s common shares were immediately transferred for quotation to the Pink
In April 2010, the Company received notification that its common stock was eligible for trading on the Over-the-
Counter Bulletin Board (“OTCBB”), an electronic quotation service maintained by the Financial Industry
Regulatory Authority (“FINRA”), effective on April 7, 2010. The Company’s common shares continue to trade
under the symbol FMTI.
Sale of Business and Liquidation
On July 13, 2010, the Company announced that it had entered into an agreement which will effect the sale of
substantially all of its assets (the "Asset Sale") to MHT, LLC ("MHT"). Following the completion of the Asset
Sale, Forbes intends on settling all of its contractual obligations, appointing a liquidator to finalize and wind-up its
affairs, and distributing the resulting net proceeds to its shareholders.
On July 20, 2010, the Company announced that Pharmachem Laboratories, Inc. ("Pharmachem"), had advised
Forbes that, subjec