Viral Genetics Announces Details Of Corporate Restructuring, Including Name Change, Reverse Stock Split And Increase To Authorized Capital
In connection with the implementation of the reverse stock split, the Board recommended, and the shareholders approved, a decrease to the authorized capital stock of the Company. The new authorized capital stock of the Company will be 70,000,000 total shares, consisting of 60,000,000 shares of common stock and 10,000,000 shares of Series A Preferred shares. Currently, the authorized capital stock of the Company is 3,250,000,000, consisting of 3,000,000,000 shares of common stock and 250,000,000 shares of Series A Preferred Stock. As of today’s date, there are approximately 2 billion shares of common stock issued and outstanding. Upon the reverse stock split this will be equal to approximately 3.3 million shares.
Information for Viral Genetics Shareholders
Upon the record date, shareholders with Viral Genetics, Inc. shares in brokerage accounts will not need to take any action to receive their new shares, which will be automatically adjusted for the reverse split. Shareholders who hold physical stock certificates can submit them to the Company’s transfer agent for reissuance of new certificates bearing the split-adjusted amount and new name.
Transfer Agent:Registrar and Transfer Company800-866-1340 About Viral Genetics, Inc. (to be renamed VG Life Sciences, Inc.) San Marino, California-based Viral Genetics, Inc. discovers and develops drug therapies from two exclusively licensed platform technologies based on over 60 patents: Metabolic Disruption (MDT) and Targeted Peptides (TPT). A physician-initiated Phase I clinical trial of an MDT compound in combination with Nexavar™ on Stage III and IV ovarian cancer patients is ongoing at the Cancer Therapy and Research Center of The University of Texas Health Science Center at San Antonio. A majority-owned subsidiary, VG Energy ( www.vgenergy.net), is dedicated to exploring biofuel and agricultural applications for the MDT platform. Founded in 1994, the biotech company is researching treatments for drug-resistant cancer, Lyme disease, Strep, Staph and Sepsis, and HIV/AIDS. For more information, visit www.viralgenetics.com. About VG Energy VG Energy, Inc. is an alternative energy and agricultural biotech company that is a majority-owned subsidiary of Viral Genetics, Inc. VG Energy holds the exclusive worldwide license to the Metabolic Disruption Technology (MDT) patent rights for use in the increase of production of various oils from algae, plants and seeds. VG Energy’s pivotal discoveries are expected to facilitate the biofuel industry in overcoming its major obstacle in the area of production efficiency, thereby leading to an increase in production yields that generate economically viable returns on investment, allowing renewable biodiesel to be competitive with fossil fuels. For more information, please visit http://www.vgenergy.net. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
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