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On March 25, 2009, the company filed a Form 15 with the Securities and Exchange Commission terminating its reporting obligations under Section 12(g) of the Securities Exchange Act of 1934. As a result, the company was no longer eligible or required to make ongoing disclosures and reports under the SEC's online EDGAR system including annual and quarterly reports on Form 10-QSB or Form 10-KSB, as well as Current Reports on Form 8-K. The company intends to address this gap in disclosure by making disclosures under the OTCIQ service until such time as the company recommences making filings under EDGAR which would require re-registration with the SEC.
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Re-registration would require the filing of audited financial statements, amongst other requirements. Doing so will be dependent on Viral Genetics securing sufficient resources to complete the necessary audits, legal documentation, and other items. While the company intends to do so, there is no guarantee that it will occur.
Disclosure on the OTCIQ system is made pursuant to the "Guidelines for Providing Adequate Current Information" available at http://www.pinksheets.com/content/doc/ps/Disclosure/Guidelines/2.pdf. The guidelines are intended to substantially follow the reporting requirements of registrants under Section 12 of the Securities Exchange Act administered by the SEC, although the requirements are voluntary when an issuer is not actually registered with the SEC.
Viral Genetics is now completing an Initial Disclosure Filing which will include un-audited financial statements from the period October 1, 2007 until the most recent quarter-end, as well as general company information, plan of operations, information about share issuances and capital structure, and other updates. In the interim, the company will make ongoing Current Reports under the OTCIQ system.
About Viral Genetics, Inc.:
Viral Genetics, Inc. is a biotechnology company that discovers and develops immune-based therapies for HIV, AIDS and other autoimmune diseases using its thymus nuclear protein compound (TNP). The Company recently licensed technology developed by M. Karen Newell, PhD from the University of Colorado, that appears to explain TNP and provide a means to optimize therapies based on TNP for future clinical trials. Viral Genetics believes that its investigational HIV/AIDS drug based on TNP, called VGV-1, represents a unique approach to treating HIV due to the apparently novel mechanism, low toxicity profile, simple dosing regimen, and short-course of treatment. As a type of immune-based therapy, VGV-1 focuses on boosting the immune system to allow the body to fight HIV more efficiently. VGV-1 has been studied in five human clinical trials for the treatment of HIV/AIDS. Online at www.viralgenetics.com
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV-1 is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of VGV-1 in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
Contact: Viral Genetics, Haig Keledjian, 626-334-5310
SOURCE Viral Genetics, Inc.
