VIENNA, Va., Feb. 17 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION reports the following: On January 18, 2006 CEL-SCI announced that it would not be able to file its 10-K on time and that it had asked the American Stock Exchange (AMEX) for an extension to file its 10-K for the year ending September 30, 2005. The reasons for not being able to file the 10-K on time are described in the Company's press release dated January 18, 2006. The inability to file the 10-K on time is a violation of the AMEX rules, specifically Sections 134 and 1101 of the AMEX Company Guide. As expected, CEL-SCI received a letter from the AMEX stating that the Company will have to submit a plan by February 7, 2006 advising the AMEX of action CEL-SCI has taken, or will take, that would allow the Company to file the 10-K by no later than March 20, 2006. CEL-SCI submitted this plan to the AMEX on February 7, 2006. The plan indicated that it would file the 10-K by March 20, 2006. Since CEL-SCI does not have a completed 10-K, CEL-SCI was unable to file its quarterly report (10-Q) for the period ending December 31, 2005 in a timely manner either. This constitutes an additional deficiency under Section 134 and 1101 of the AMEX rules. CEL-SCI will now have to submit a plan to the AMEX by March 3, 2006 advising the AMEX of action CEL-SCI has taken, or will take, that would allow the Company to file the 10-Q by no later than April 6, 2006. If the AMEX accepts CEL-SCI's plans, CEL-SCI can maintain its AMEX listing during that time subject to the periodic determination by the AMEX that CEL-SCI is making progress consistent with the plan. If CEL-SCI's plan is not accepted, CEL-SCI will be subject to delisting proceedings.
CEL-SCI Corporation is developing new immune system based treatments for cancer and infectious diseases. The Company has operations in Vienna, Virginia and Baltimore, Maryland.
When used in this report, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation's SEC filings, including but not limited to its report on Form 10- K/A for the year ended September 30, 2004. The Company undertakes no obligation to publicly release the result of any revision to these forward- looking statements, which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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