Jul 30 2011
VIROPRO (Pink Sheets: VPRO) today provided updates on its business.
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.