Stockholders meeting was postponed because items to be voted upon by stockholders required production of the audited financial statements and these are not yet available. Company considered other alternative but all required filing of these statements.
Delays in production of financials are attributable to change of accounting firm, from a Canadian CPA firm, to a US CPA firm and the need to consolidate the Company’s new subsidiaries. Work on the financials is now progressing smoothly and production of 2010 Q2 and Q3 should be completed shortly. Company intends on returning to full disclosure as early as possible.
Management also received numerous questions relating to the Spectrum agreement announced back in January. As per this agreement, the Company cannot comment on the progress of the work being done and cannot either disclose the amount of the agreement but can simply state that Spectrum is so far very satisfied with the work done. Company will give more details when Spectrum grants permission to do so.
About Viropro, Inc.:
Viropro, Inc. conducts operations through its subsidiaries Viropro International Inc., and Biologics Process Development, Inc. and specializes in the transfer of its technologies for industrial production of biopharmaceutical therapeutic proteins for the treatment of various diseases including cancer, diabetes, hepatitis and multiple sclerosis. The Company’s principal objective is to provide its high-yield manufacturing process technology to biopharmaceutical companies in global markets with unmet medical and/or market needs. (www.viropro.com)
Viropro, Inc. Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.
Serge Beausoleil, 514-779-7336
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Health Biotechnology Oncology Pharmaceutical