UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2018
Yew Bio-Pharm Group, Inc.
(Exact name of registrant as specified in its charter)
| Nevada | 000-54701 | 26-1579105 | ||
|
(State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
9460 Telstar Avenue, Suite 6 El Monte, California |
91731 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (626)-401-9588
| Not Applicable |
| (Former name or former address if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Information included in this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). This information may involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Yew Bio-Pharm Group, Inc. (herein referred to as the “Company” or “Registrant”), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or other expectations included in any forward-looking statements will come to pass. The Company’s actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.
Section 7- Regulation FD
Item 7.01 Regulation FD Disclosure
On September 12, 2018, the Company issued a press release announcing that it recently signed a Product Sales and Exclusive Distribution Agency Agreement (“Agency Agreement”) to sell yew essential oil extracted from Taxus cuspidate. The Agency Agreement will continue for three years until July, 2021. According to the Agency Agreement, in order to maintain exclusive agency rights, the agency agrees to purchase no less than RMB 30,000,000 or about USD 4,300,000 worth of yew essential oil from the Company during the first year, and the purchase amount will increase at least 30% year over year. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
This disclosure does not constitute an offer to sell, or the solicitation to buy, any such security.
Item 9.01 Financial Statements and Exhibits.
|
Exhibit Number |
Description | |
| 99.1 | Press release, dated September 12, 2018 of Yew Bio-Pharm Group, Inc. |
| 1 |
Signature(s)
Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.
| Yew Bio-Pharm Group, Inc. | ||
| Date: September 12, 2018 | By: | /s/ Zhiguo Wang |
| Zhiguo Wang | ||
| President & Chief Executive Officer | ||
| 2 |
Exhibit 99.1
Yew Bio-Pharm Group Announces New Significant Agreement
EL MONTE, California, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Yew Bio-Pharm Group, Inc. (OTCQB:YEWB) (“YEWB” or the “Company”), a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine, handicraft products made from yew timber and yew candle and soap made with yew essential oil in China, announced that it recently signed a significant Product Sales and Exclusive Distribution Agency Agreement (“Agency Agreement”) to sell yew essential oil extracted from Taxus cuspidate. The Agency Agreement will continue for three years until July, 2021.
According to the Agency Agreement, in order to maintain exclusive agency rights, the agency agrees to purchase no less than RMB 30,000,000 or about USD 4,300,000 worth of yew essential oil from the Company during the first year, and the purchase amount will increase at least 30% year over year. In addition, pursuant to the Agency Agreement, the agency will place several orders to purchase yew essential oil in each agreement year. The Company received the first order payment of RMB 210,000 or about $30,000 in US dollar on September 4, 2018.
“We are excited about the newly signed Agency Agreement." said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of YEWB. "We officially started our business model transformation from the year of 2015. We have developed different series of new products such as yew essential oil candle and soap, coffee products, yew essential oil skin care and so forth in the past three years. We believe our revenue composition will become more diversified as we continue to enrich our product categories.”
ABOUT YEW BIO-PHARM GROUP, INC. (OTCQB:YEWB)
Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM) and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains taxol, and TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers. The Company uses a patented, accelerated growth technology to speed the growth and maturity and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. Yew Bio-Pharm also recently established a division to focus on organic foods and dietary supplements with the aim of developing new business opportunities in related industries. To learn more, please visit www.yewbiopharm.com
SAFE
HARBOR
This press release forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.
These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or implied by these forward-looking
statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking
statement, including but not limited to the following: our ability to collect from our largest customers; our dependence on a
small number of customers for raw materials, including a related party; our ability to continue to purchase raw materials at relatively
stable prices; our dependence on a small number of customers for our yew trees for reforestation; our ability to market successfully
raw materials used in the manufacture of traditional Chinese medicines; and our ability to receive continued preferential tax
treatment for the sale of yew trees and potted yew trees. From time to time, these risks, uncertainties and other factors
are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent annual
report on Form 10-K. Yew Bio does not undertake any obligation to update any forward-looking statements as a result of new information,
future events or otherwise, except as required under applicable law.
Company Contacts:
Henry Pang
Yew Bio-Pharm Group, Inc.
Tel: (626) 401-9588
hpang@yewbiopharm.com