Isolagen, Inc. Reports Receipt of Initiation of Delisting Proceedings Notice from Amex
30 Maio 2008 - 7:00PM
PR Newswire (US)
Isolagen Intends to Appeal Action EXTON, Pa., May 30
/PRNewswire-FirstCall/ -- Isolagen(TM), Inc. (AMEX:ILE) today
announced that on May 29, 2008 it received notice from the staff of
the American Stock Exchange (AMEX) indicating that, in the staff's
opinion, the Company's plan of compliance did not demonstrate its
ability to regain compliance with the Exchange's continued listing
standards set forth in Sections 1003 (a)(i)-(iii) of the AMEX
Company Guide within the prescribed time period, and, therefore,
that its common stock is subject to being delisted from the
Exchange. As discussed in the Company's Form 8-K dated March 14,
2008 and in Item 1A. of the Company's Form 10-Q for the quarter
ended March 31, 2008, the Company had initially received a
non-compliance notice from the staff of the AMEX on March 12, 2008,
and had submitted a plan of compliance to the AMEX on April 14,
2008. Isolagen intends to appeal this determination and will
request a hearing before a committee of the Exchange. There can be
no assurance that the Company's request for continued listing will
be granted after such hearing. About Isolagen, Inc. Isolagen(TM),
Inc. (AMEX:ILE) is an aesthetic and therapeutic company committed
to developing and commercializing scientific advances and
innovative technologies. The company's technology platform includes
the Isolagen Process(TM), a cell processing system for skin and
tissue rejuvenation which is currently in clinical development for
a broad range of aesthetic and therapeutic applications including
wrinkles, acne scars, burns and periodontal disease. Isolagen also
commercializes a scientifically-advanced line of skincare systems
through its majority-owned subsidiary, Agera(R) Laboratories, Inc.
For additional information, please visit http://www.isolagen.com/.
Isolagen Forward Looking Statements All statements in this news
release that are not based on historical fact are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and the provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements in this press release, include, without limitation, that
the Company's request for continued listing with AMEX will be
granted. While management has based any forward-looking statements
contained herein on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties, and other factors, many of which are outside of our
control, that could cause actual results to materially differ from
such statements. Such risks, uncertainties, and other factors
include, but are not necessarily limited to, those set forth under
Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K
for the year ended December 31, 2007, as updated in "Item 1A. Risk
Factors" in the Company's Quarterly Reports on Form 10-Q filed
since the annual report. We operate in a highly competitive and
rapidly changing environment, thus new or unforeseen risks may
arise. Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. We
disclaim any intention to, and undertake no obligation to, update
or revise any forward- looking statements. Readers are also urged
to carefully review and consider the other various disclosures in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2007, as well as other public filings with the SEC
since such date DATASOURCE: Isolagen, Inc. CONTACT: Mike Beyer of
Sam Brown, Inc., +1-773-463-4211, , for Isolagen, Inc. Web site:
http://www.isolagen.com/
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