SOURCE: GeneThera, Inc.

July 09, 2008 09:30 ET

GeneThera Provides an Update on Recent Developments

WHEAT RIDGE, CO--(Marketwire - July 9, 2008) - GeneThera, Inc.'s (PINKSHEETS: GTHA) CEO Dr. Tony Milici, M.D., Ph.D. wanted to provide an update on the company's recent developments to its loyal shareholders and investment community in the United States and abroad.

Firstly, none of the fundamentals has changed within the company. In fact, opportunities are increasing, especially with respect to recent pressure from the twenty-four members of Congress in a letter dated June 12, 2008, to Secretary of Agriculture Edward Schafer to allow private companies to test for Mad Cow disease here in the United States. Countries like Korea, for example, are having in upwards of one-hundred thousand of its citizens holding demonstrations due to the lack of restrictions the United States presently has for the exporters of beef, and are fearful for their safety. The full letter can be viewed on the ConsumersUnion.org website.

Secondly, GeneThera was recently denied in the hearing process to remain listed on the OTCBB after being delinquent three times within the past twenty-four months. Despite the $4,000 fee to initiate the hearing with FINRA, the legal regulatory body for NASDAQ, we felt obligated within our code of ethics, and based on principle, that our case was justified. Although it is within GeneThera's rights to appeal the decision, the Company has decided not to pursue any further action to be reinstated on the OTCBB listing service. We believe that GeneThera's goal, in the best interest of its shareholders, should be to focus on meeting the necessary requirements to be listed on either the NASDAQ or AMEX stock exchanges. Until then, we will continue to file all financial and regulatory reports with the Security and Exchange Commission in accordance with the security laws.

Lastly, as per our 8-K filed on June 19th, 2008, we decided that it was in the best interests of our share holders to conduct a reverse split with respect to the reasons outlined in the filing, along with fulfilling one of the criteria for the stock exchanges mentioned prior. The new ticker symbol beginning tomorrow will be (PINKSHEETS: GTHR). We look forward to providing updates to our continued advances in all phases of GeneThera and within the growing sector of food safety.

ABOUT GENETHERA, INC.:

GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, CO. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the health-care industry. The Company's proprietary diagnostic solution is based on a genetic expression system (GES) a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GES is designed for a host of individual diseases, the current priority being Mad Cow disease, Chronic Wasting Disease, a disease affecting elk and deer in North America; E.Coli 0157:H7 and Johne's Disease, diseases affecting cattle worldwide.

"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.

Contact Information

  • Contact:
    Richard Dopkin
    JR Dopkin & Associates
    Phone: 516-884-3200
    Email: info@jrdopkin.com