SOURCE: Amazon Biotech, Inc.

June 17, 2008 12:55 ET

Amazon Biotech Informs Shareholders of Unauthorized 8K Filing

NEW YORK, NY--(Marketwire - June 17, 2008) - Amazon Biotech, Inc. (OTCBB: AMZO) (FRANKFURT: B2DA) announced that an 8K was filed by Amazon's former employee, Michael Kanovsky, on June 13, 2008, alleging that a written consent of the Board of Directors issuing shares as compensation in lieu of debt owed to a creditor of the company was never signed by the members of the Board of Directors.

The filing by Mr. Kanovsky was false and misleading, as Mr. Kanovsky, together with Simcha Edell, acting as Directors of the Company at that time, initiated the issuance, provided a written consent of directors which was signed by them and then faxed this consent to the Company's transfer agent. Mr. Edell wired funds to cover the costs requested by the transfer agent in order to process the issuance, instructed the Company's Secretary to finalize the issuance, and subsequently received the shares at the Company's corporate offices before causing them to be sent off to said creditor.

Only two months after Mr. Kanovsky's resignation from the Company as CEO did Mr. Kanovsky assert that the signature he provided on this consent was not his signature. Current management of the Company is in possession of a copy of the executed written consent and numerous correspondence supporting the issuance of the shares of common stock.

Amazon Biotech, Inc. is a natural plant pharmaceutical drug company, primarily developing immunomodulator drugs. AMZ0026 is the Company's first such drug to be used for the treatment of HIV/AIDS. The Company plans on initiating Phase I/II clinical studies of AMZ0026 in the near future with the goal of attracting a joint venture partner with a major pharmaceutical company in Phase III trials or enter the FDA Fast Track program to reach the marketplace. Amazon Biotech specializes in natural plant pharmaceutical drugs and is focused on bringing healthier pharmaceutical drugs to market.

Additional information on Amazon Biotech may be found at: http://www.amazonbiotech.com/.

Forward-Looking Statements

"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding any potential sales of products as well as statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Amazon Biotech, to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Amazon Biotech's subsequent reports filed with the Securities and Exchange Commission under the Exchange Act. This press release speaks as of the date first set forth above and Amazon Biotech assumes no responsibility to update the information included herein for events occurring after the date hereof. Commitment to do a study does not represent that the Company has FDA approval on the protocol to start the study.

Contact Information

  • Contact:

    LC Group
    Rick Lutz
    (404) 261-1196