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National Stem Cell Holding to Complete the Audit of its Financial Statements


7/31/2007 11:39:05 AM

MOUNTAINSIDE, N.J., July 31 /PRNewswire-FirstCall/ -- National Stem Cell Holding, Inc. , today announced that it is diligently working to complete the audit of its consolidated financial statements for the fiscal years ended December 31, 2005 and December 31, 2006, and for the quarters ended March 31, 2007, June 30, 2007 and August 31, 2007.

The Company has indicated that upon finalizing its financial statements and completing its audit, the Company intends to take all steps necessary to enable it to move from the pink sheets to the over the counter, and ultimately, becoming a fully reporting public company, National Stem Cell Holding, Inc.

National Stem Cell Holding, Inc. is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Company is developing a pipeline of proprietary stem cell therapeutics with particular focus on diabetes. In addition to its work with stem cell therapeutics, the Company is also working to leverage its commercial infrastructure and product development capabilities of its wholly-owned subsidiary The Sperm Bank of NY. The Company's investigational products are focused on the improvement of the quality of life for patients and their families. The Company is headquartered in Mountainside, NJ.

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)" and similar expressions are intended to identify forward-looking statements, which include, but are not limited to statements regarding: the trademark application, the ability of the biomaterials to promote tissue repair and the variety of wound care applications. All of such forward-looking statements are not guarantees of future performance. They are based on management's current expectations and are subject to risks and uncertainties that are difficult to predict and generally beyond the control of the Company, and that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: the risk that the patent application will not be granted, the risk that the analysis of future data will not warrant continuation of development; the risk that the FDA, the institutional review boards for the clinical sites or the investigators may not agree with the Company's assessment of the results and may not permit future trials; the risk that concerns may arise from additional analysis or data; and the risk that the Company may encounter other unexpected hurdles. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. National Stem Cell Holding, Inc. does not undertake any obligation to update or revise any forward-looking statements, to reflect changes to management's expectations, change in events, conditions or circumstances after the date hereof, or the occurrence of or non-occurrence of any events, new information or otherwise.

National Stem Cell Holding, Inc.

CONTACT: Kimberly Rosenthal of National Stem Cell Holding, Inc.,+1-212-792-6160, krosenthal@nationalstemcell.com



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