Holmes Biopharma, Inc.: Omaha Research Operations Disrupted
May 19 2008 - 9:00AM
Marketwired
SCOTTSDALE, ARIZONA announces that its clinical research
operations in Omaha, Nebraska have been disrupted due to a working
capital deficiency. The Company's operating subsidiary has created
a strategy to continue operations in Kiev, Ukraine and Toronto,
Canada.
The Company has for several months been attempting to refinance
its clinical research subsidiary. Additional funding is needed
because of operating losses incurred during its start up period
combined with increased overhead created by strong growth in sales.
Weak equity and banking conditions worldwide have made this process
difficult and there is no guarantee that a refinancing is possible
in order to allow operations in Omaha to continue.
The Company will provide more information as it becomes
available.
On behalf of the Board of Directors
John F. Metcalfe, President, CEO
Certain statements in this press release constitute "forward
looking statements" within the meaning of the United States
Securities Legislation. The Company's actual results could differ
from those in the forward-looking statements. Do not construe this
information as investment advice. This is not a solicitation to buy
or sell securities. This does not purport to be a complete analysis
of the Company. Investing in securities is speculative and carries
a high degree of risk. Past performance does not guarantee future
results. Readers should consult their own independent advisers with
any investment, including any contemplated investment. All
information contained in this press release should be independently
investigated. This press release contains forward-looking
statements. These remarks involve risks and uncertainties. Risks
are not limited to quarterly fluctuations in results or the
Company's management of growth and competition. Other risks are
detailed in the Company's SEC filings. Actual results may differ
materially from such information set forth herein.
Contacts: Holmes Biopharma, Inc. John F. Metcalfe President, CEO
1-800-778-4990 Email: ir@holmesbiopharma Website:
www.holmesbiopharma.com
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