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VG Life Sciences, Inc. (VGLS) Starts Prior Year Audit to Increase Financial Accountability


10/17/2013 9:02:35 AM

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SANTA BARBARA, Calif., Oct. 16, 2013 /PRNewswire/ -- VG Life Sciences, Inc. (VGLS) is a publicly traded biotechnology company focused on developing treatments for patients suffering autoimmune and infectious diseases.

VG Life Sciences is pleased to announce the engagement of KWCO, PC Certified Public Accountants to conduct the Company's (VGLS) audit, oversee Securities and Exchange Commission (SEC) filings and facilitate the Company becoming fully reporting under the Securities Exchange Act of 1934. VG Life Sciences will become a fully reporting Company and produce consolidated balance sheets of the Company as of December 31, 2012 and 2013. It will also include related consolidated statements of operations, stockholders' equity and yearly cash flows from the Company's inception in 1995 through the end of this year.

"This is yet another step intended to build confidence and restore financial accountability to the Company's present and future investors and shareholders. Methodically, we will then be taking the necessary steps for the Company to be re-listed on OTC Bulletin Boards likely in the first quarter of 2014." Says John Tynan, Interim President and CEO of VG Life Sciences.

The completion of this audit will improve internal controls, improve transparency and result in more timely, detailed information about the Company and its ownership. This audit will also enable VG Life Sciences to file Form 10 with the SEC, a fiscal priority for the Company as outlined in the July 18, 2013 Letter to Shareholders.

About VG Life Sciences Inc.

Santa Barbara, California-based VG Life Sciences Inc., formerly known as Viral Genetics, is a biotechnology company working on discovering and developing drug therapies for infectious diseases, cancer and many autoimmune diseases. VGLS controls over 50 US and international patents and patents pending 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 or any other person that the objectives and plans of VG Life Sciences will be achieved.

Contact:
Alexandria Sumner, Director of Corporate Communications
VG Life Sciences, Inc.
Phone: (805) 679-6763
Email: asumner@vglifesciences.com
SOURCE VG Life Sciences, Inc.

SOURCE VG Life Sciences, Inc.



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