SANTA BARBARA, Calif., June 23, 2014 (GLOBE NEWSWIRE) -- VG Life Sciences, Inc. (VGLS) is a publically traded biotechnology company focused on developing treatments for patients suffering from autoimmune and infectious diseases.
VG Life Sciences is pleased to announce the filing of Form 10 with the Securities & Exchange Commission on June 19, 2014. Form 10 filings provide comprehensive information about the capital structure, financial condition, history and governance of the company. Once the Form 10 statement is effective VGLS will file annual reports on form 10K, quarterly reports on 10Q and periodic reports on form 8K.
"This is a significant milestone that will provide transparency with the investment community," said John Tynan, President and CEO.
In May the company completed prior year audits. When the Form 10 is effective, the company plans to move from the OTC Pink market to the OTCQB.
"We believe this will provide our shareholders with a more robust trading platform and thus increased liquidity," said Tynan. "We continue to complete key milestones as announced in July related to new capital investment, moving our science forward into pre-clinical safety trials, protecting our intellectual property, completing our audit and now filing the Form 10."
The Company also seeks to clarify a reference to the accumulated deficit and loss carry forward from our May 13, 2013 Letter to Shareholders. VG Life Sciences, Inc.'s loss carry forward is $44,000,000.
You can find a copy of the filing by clicking here.
About VG Life Sciences Inc.
Santa Barbara, California-based VG Life Sciences, Inc., formerly known as Viral Genetics, is a biotechnology company focused on discovering and developing drug therapies for cancer, infectious disease, and inflammatory, autoimmune disorders. VGLS controls over 45 US and international patents and pending patents protecting its exclusive biotech platform technologies. For more information and upcoming events, visit www.vglifesciences.com or find VG Life Sciences, Inc. on Facebook, Twitter, and LinkedIn.
Safe Harbor Statement and Forward-Looking Statements
This news release may contain forward-looking statements that involve risks and uncertainties associated with financial projections, milestone timelines, clinical development, regulatory approvals and other risks described by VG Life Sciences from time to time in its periodic reports. None of VG Life Sciences' drug compounds are approved by the US FDA or by any comparable regulatory agencies elsewhere in the world. 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 VG Life Sciences Inc. or any other person that the objectives and plans of VG Life Sciences will be achieved.
Contact:
Allison Trabucco, Corporate Communications
VG Life Sciences, Inc.
Phone: (805) 879-9000
Email: atrabucco@vglifesciences.com