Immunosyn Corporation Announces 2007 Results, Files 10KSB
March 31 2008 - 3:59PM
PR Newswire (US)
LA JOLLA, Calif., March 31 /PRNewswire-FirstCall/ -- Immunosyn
Corporation (OTC:IMYN) (BULLETIN BOARD: IMYN) , a biotechnology
firm that has obtained exclusive worldwide marketing, sales and
distribution rights to the biopharmaceutical SF-1019, has announced
its results for the fiscal year ending December 31, 2007. For the
year ended December 31, 2007, the company incurred $647,000 in
general and administrative expenses and $26,000 in interest expense
which was funded from advances by affiliates of $641,000, accounts
payable of $152,000 and accrued expenses of $17,000. As a result,
the company had a Net Loss of $672,837 for the 2007 fiscal year.
From the company's inception on August 3, 2006 until December 31,
2006, the company incurred $156,000 in general and administrative
expenses and no interest expense and had a net loss of $156,000 for
such period. Immunosyn has had no revenue to date as Argyll
Biotechnologies, LLC is still in the process of obtaining
governmental and regulatory approval for SF-1019. "We were able to
significantly control costs in 2007 and appreciated the advances
from affiliates," noted Stephen Ferrone, Immunosyn's CEO. "In 2008,
Argyll Biotechnologies, LLC has reported positive research results
for SF-1019 and Immunosyn hopes to add shareholder value by
striving for financial efficiency in the execution of its marketing
and distribution strategy when approvals for SF-1019 are obtained
by Argyll Biotechnologies, LLC," added Ferrone. Research suggests
that SF-1019 has analgesic properties with a perceived ability to
reduce the inflammation present in a number of clinical conditions
including Multiple Sclerosis (MS), Chronic Inflammatory
Demyelinating Polyneuropathy (CIDP), Reflex Sympathetic Dystrophy
Syndrome, (RSD or RSDS) and other auto-immune and neurological
disorders. A recent, limited proof of concept trial for SF-1019 in
Europe has shown positive results in effectively treating diabetic
ulcers. Immunosyn went public in January 2007 and its stock began
trading on October 26, 2007 on the OTCBB under the symbol "IMYN."
About Immunosyn Corporation La Jolla, CA-headquartered Immunosyn
Corporation (OTC:IMYN) (BULLETIN BOARD: IMYN) plans to market and
distribute life enhancing therapeutics. Currently, the company has
exclusive worldwide rights from its largest shareholder, Argyll
Biotechnologies, LLC, to market, sell and distribute SF-1019, a
compound that was developed from extensive research into Biological
Response Modifiers (BRMs). Argyll Biotechnologies, LLC has
initiated the process for regulatory approval of SF-1019 in several
countries and preparations for clinical trials are underway in both
the US and Europe. Research suggests that SF-1019 has the potential
to affect a number of clinical conditions including complications
from Diabetic Mellitus such as Diabetic Neuropathy (DN) and
diabetic ulcers (DU), auto-immune disorders such as Multiple
Sclerosis (MS) and neurological disorders such as Chronic
Inflammatory Demyelinating Polyneuropathy (CIDP) and Reflex
Sympathetic Dystrophy Syndrome (RSD or RSDS). The above news
release contains forward-looking statements. These statements are
based on assumptions that management believes are reasonable based
on currently available information, and include statements
regarding the intent, belief or current expectations of the Company
and its management. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance, and are subject to a wide range of business risks,
external factors and uncertainties. Actual results may differ
materially from those indicated by such forward-looking statements.
For additional information, please consult the Company's most
recent public filings and Annual Report on Form 10-KSB for its most
recent fiscal year recently filed with SEC. The Company assumes no
obligation to update the information contained in this press
release, whether as a result of new information, future events or
otherwise. DATASOURCE: Immunosyn Corporation CONTACT: Bill Kraus,
Lisa Baker, or Devon Blaine, all of The Blaine Group,
+1-310-360-1499, fax, +1-310-360-1498, , all for Immunosyn
Corporation
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