NanoViricides Inc (NNVC)

[Ovidius]

Possible misrepresentation about Amex uplisting, see the link below, check it out.

NNVC said the following in the annual report for the period ending 6/30/2007...

"Although its By-laws provide for the appointment of one, the Company is not yet required to have an Audit Committee as a result of the fact that our common stock is not considered a “listed security” as defined in Rule 10A-3 of the Exchange Act. There are currently no audit committee members that meet the criteria of “Financial Expert”, however the Company is actively working to appoint a “Financial Expert” in the current year."

1) The 2009 report says the same thing.

How actively are they really looking for a "financial expert"? They appear to be at least three years into this search.

2) They don't feel the need to follow their own bylaws, which is always encouraging.

3) Any listing on a national exchange (AMEX, etc.) would require them to have an audit committee in place BEFORE becoming listed, per Rule 10A-3, the requirements of which are found here: www.law.uc.edu/CCL/34ActRls/rule1...

4) This appears to be further evidence that they never applied for an AMEX listing.

'The insiders Club' knows how to spin a web that keeps the investor clueless, IMO...