VG Life Sciences Inc. of Santa Barbara is a publicly traded biotechnology company focused on developing treatments for patients suffering from autoimmune and infectious diseases.
VG Life Sciences is pleased to announce the filing of Form 10 with the Securities & Exchange Commission last Thursday. Form 10 filings provide comprehensive information about the capital structure, financial condition, history and governance of the company.
Once the Form 10 statement is effective, VGLS will file annual reports on Form 10K, quarterly reports on 10Q and periodic reports on form 8K.
"This is a significant milestone that will provide transparency with the investment community," said John Tynan, president and CEO.
In May, the company completed prior year audits. When the Form 10 is effective, the company plans to move from the OTC Pink market to the OTCQB.
"We believe this will provide our shareholders with a more robust trading platform and thus increased liquidity," Tynan said. "We continue to complete key milestones as announced in July related to new capital investment, moving our science forward into pre-clinical safety trials, protecting our intellectual property, completing our audit and now filing the Form 10."
The company also seeks to clarify a reference to the accumulated deficit and loss carry forward from its May 13, 2013, Letter to Shareholders. VG Life Sciences' loss carry forward is $44 million.
— Allison Trabucco is a corporate communications coordinator for VG Life Sciences.