PATERSON, NJ--(MARKET WIRE)--Nov 20, 2008 -- Cavit Sciences, Inc. ("Cavit") (OTC BB:CVIT.OB - News) announced today the following update to its shareholders:
To: The Shareholders of Cavit Sciences, Inc.
From: Margaret ("Maggie") Smyth, Interim CEO
Effective November 14, 2008, I have been elected as Interim CEO of Cavit in order to move our Company forward.
Effective November 14, 2008, the corporate headquarters and related facilities of Cavit are located in Paterson, NJ.
Once I have received and reviewed all of Cavit's corporate records and information, I will address all concerns and determine the best course of action for the Company and its shareholders. The Board of Directors and I will review and determine what needs to be done to become a financially viable Company.
I plan to answer your questions and concerns with a press release to be distributed within the next 30 days.
To get things started, I will not take a salary until the Board of Directors deems the company financially fit.
In addition, there will be no rent charged to the Company for its corporate offices, warehousing, distribution and fulfillment center until the Board of Directors deems the company financially fit.
The above changes are effective immediately.
I truly believe with hard work and the help of others we can make this Company a profitable endeavor for all shareholders.
Cavit Sciences, Inc. ("Cavit") is a biotechnology company engaged in developing treatments and prevention for cancer, viral infections and related diseases. Additional information regarding our drug development, supplement line and Company information is available on the Company's website at: www.cavitsciences.com.
Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements made by Cavit. These factors include, but are not limited to: (i) the ability of Cavit to successfully raise financing, (ii) the ability of Cavit to finalize its manufacturing and distribution facilities, and (iii) the ability of Cavit to successfully commercialize its products in certain markets. Additional factors that would cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Cavit's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" for Cavit on Form 10-K filed on April 18, 2008 and its subsequently filed Forms 10-Q.
Contact:
Maggie Smyth
Interim CEO
(973) 278-7327
Cavit Sciences, Inc.
http://www.cavitsciences.com
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