HENDERSON, NV -- (Marketwired) -- 08/12/15 -- United Health Products Inc. (OTCQB: UEEC) announced that on August 7, 2015, the stockholders of the corporation approved an increase in the authorized number of shares of common stock to 300 million shares and the cancellation of the existing authorized but unissued preferred shares. At a special meeting of stockholders, 87,752,635 shares voted in favor of the proposed amendment to the Certificate of Incorporation and 4,043,164 shares voted against the proposal. Douglas Beplate, CEO, stated, "The increase in the number of shares secures the shareholders' interest and that the increase in the number of shares does not dilute the value of the shareholders' equity as these shares will be in treasury and no financing is associated with the increase of these shares at the present time. We have secured lines of credit if needed to meet our production needs." Mr. Beplate added, "We have positioned the company to expand into the Nationwide Marketplace where the Hemostyp® products have been successfully introduced through our distribution network. United Health Products Inc. is now ready to capitalize on that network to generate meaningful revenues."
About United Health Products Inc.
United Health Products Inc. (UEEC) develops, manufactures, and markets patented hemostatic gauze, for the healthcare and wound care sectors. The product, HemoStyp®, is derived from regenerated oxidized cellulose, which is all natural, and designed to absorb exudate/drainage from superficial wounds and helps control bleeding. UEEC is focused on identifying new markets and applications for its product as well as ramping up sales in its current markets. For more on United Health Products Inc. visit: www.unitedhealthproductsinc.com
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