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Prospector
Profile
1115-06
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| NanoViricides, Inc. |
NAICS |
541710 |
| 135 Wood Street, Suite 205
West Haven, CT 06516 |
Description |
Biotechnology |
| (203) 937-6137 |
Employees |
2 |
| http://nanoviricides.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-3.1180 |
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Assets |
(mil) |
1.3500 |
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Liability |
(mil) |
0.8490 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Holtz Rubenstein Reminick LLP raised substantial doubt about the ability of NanoViricides, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company has no viable operations, has suffered significant operating losses, and is dependent upon its stockholders to provide sufficient working capital to meet obligations and sustain operations. The Company had a net loss of $3,118,963 for the year ended June 30, 2007, lower than the $3,284,432 net loss reported during the year ended June 30, 2006. The Company's balance sheet showed an accumulated deficit of $6,469,400 as of June 30, 2007.
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Intellectual Property:
The Company has an exclusive license in perpetuity for technologies developed by TheraCour Pharma, Inc. for seven virus types, including HIV, Hepatitis C Virus, Herpes, Asian (bird) flu, Influenza, dengue virus and rabies. The Company believes that the drugs AviFlucide, FluCide, FluCide-HP, RabiCide, HiviCide-I and II, and others, may be eligible for patent protection. The Company plans to file patent applications for protecting these drugs when it has definitive results from either in-vitro or in-vivo studies that can be replicated by others. [SEC Filing 10-KSB 10-15-07]
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Description:
The nano-biopharmaceutical company engages in the discovery, development, and commercialization of anti-viral therapeutics.
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Officers:
Anil Diwan, PhD. (Chair & Pres.); Eugene Seymour, MD, MPH (CEO, Acting CFO & Dir.)
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Auditor:
Holtz Rubenstein Reminick LLP
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Securities:
Common Stock-Symbol NNVC.OB; OTC BB;
114,069,144 common shares outstanding as of October 15, 2007.
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