VIENNA, Va., Jan. 25 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION reports the following: On January 18, 2006 CEL-SCI announced that it would not be able to file its 10-K on time and that it had asked the American Stock Exchange (AMEX) for an extension to file its 10-K. The reasons for not being able to file the 10-K on time are described in the Company’s press release dated January 18, 2006. The inability to file the 10-K on time is a violation of the AMEX rules, specifically Sections 134 and 1101 of the AMEX Company Guide. As expected, CEL-SCI has received a letter from the AMEX stating that the Company will have to submit a plan by February 7, 2006 advising the AMEX of action CEL-SCI has taken, or will take, that would allow the Company to file the 10-K by no later than March 20, 2006. CEL-SCI has already indicated to the AMEX that it intends to submit such a plan. If the AMEX accepts CEL-SCI’s plan, CEL-SCI can maintain its AMEX listing during that time subject to the periodic determination by the AMEX that CEL-SCI is making progress consistent with the plan. If CEL-SCI’s plan is not accepted, CEL-SCI will be subject to delisting proceedings.
Geert Kersten, Chief Executive Officer of CEL-SCI, said, “We have already notified the AMEX that we will submit a plan no later than February 7, 2006. To do so, we will be developing a detailed time line with the three accounting firms who are working on our 10-K issues. These issues are receiving our full attention.”
CEL-SCI Corporation is developing new immune system based treatments for cancer and infectious diseases. The Company has operations in Vienna, Virginia and Baltimore, Maryland.
When used in this report, the words “intends,” “believes,” “anticipated” and “expects” and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company’s potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation’s SEC filings, including but not limited to its report on Form 10- K/A for the year ended September 30, 2004. The Company undertakes no obligation to publicly release the result of any revision to these forward- looking statements, which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
CEL-SCI Corporation
CONTACT: Company Contact: Gavin de Windt of CEL-SCI Corporation,+1-703-506-9460; or Investor Relations: Mike Lucci of Lucci FinancialGroup, LLC, +1-248-723-3330, for CEL-SCI Corporation
Web site: http://www.cel-sci.com/
