LITTLE FALLS, N.J.,
Feb. 2, 2011 /PRNewswire/ --
Regenicin, Inc.(OTC Bulletin Board: RGIN) a biotechnology company
specializing in the development of regenerative cell therapies to
restore the health of damaged tissues and organs announced today
that its Chairman and CEO, Randall
McCoy is currently working with the board on a new Corporate
incentive plan designed to encourage and reward the Company's
officers, employees and consultants working with Regenicin.
As a show of his own commitment to the Company's growth and
stability, Mr. McCoy has pledged to return 22 million of his own
personal shares back into Treasury to support the program -- over
26% of the currently issued and outstanding shares of Regenicin."
"I really believe in the future success of this Company and want
all the people who are making it happen to benefit with me," said
Mr. McCoy regarding the new incentive program. "The best way
I know how to do that without diluting the existing shareholders is
to contribute my own shares to the program. While this will
reduce my holdings by nearly half, I believe it will enhance the
overall value of the company creating a win, win for all the
shareholders."
When asked about the recent adverse market activity, Mr. McCoy
commented that it seemed particularly odd in view of the fact that
the Company had incurred no fundamental change or negative
developments. "The company remains on track and committed to its
original business plan and creating value for the company and its
shareholders."
About Regenicin
Regenicin, Inc. (www.regenicin.com) is a development stage
biotechnology company. Regenicin is a publicly traded company, with
headquarters in New Jersey.
Additional information can be found in the company's filings with
the Securities and Exchange Commission located at www.sec.gov.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of
uncertainties and risks that could significantly affect the
company's current plans and expectations, as well as future results
of operations and financial condition. A more extensive listing of
risks and factors that may affect the company's business prospects
and cause actual results to differ materially from those described
in the forward-looking statements can be found in the reports and
other documents filed by the company with the Securities and
Exchange Commission. The company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
SOURCE Regenicin, Inc.
