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Cavit Sciences, Inc.: Cavit Sciences Is Now in the Hands of the Shareholders and Moving Forward

^{Published on 2008-12-09 10:40:23 - Market Wire}
 

PATERSON, NJ--(Marketwire - December 9, 2008) - Cavit Sciences, Inc. ("Cavit") (OTCBB: [ CVIT ]) announced today the following update to its shareholders:

To: The Shareholders of Cavit Sciences, Inc.

From: Margaret ("Maggie") Smyth, Interim CEO

"Cavit Sciences is now in the hands of the shareholders."

This means:

Management is made up of shareholders with nothing to gain, like all shareholders, until we are an income producing company, which means we are all in the same boat.

1st:

To date we have asked for all the corporate records, books and ledgers from past management along with all files, computers, laptops, hard drives, etc. We have only received four boxes of paper files, an old laser printer, fax and a phone system, not sure it's a complete system yet.

We thought we would be able to give you an update on what happened but we can't with what we have received so far. It will take a lot longer to figure out if we have to start calling banks, etc. to get our information.

2nd:

We have secured a small amount of financing from a few shareholders, which is being directed to our supplement line. Our goal is to start with 2 products of our 15 products and expand from there. After careful review of our MD Solution graphics we have decided to develop a more sophisticated Logo and Brand. The "Dr. Well series" of product names and caricatures seems too childish for our target market (The Baby Boomers).

3rd:

The web designer has been chosen and is already developing our website, branding, graphics and labels. We are being told we will have first draft of the website by December 25th.

The first two products are in production and will be ready to launch along with our website by March 1st or sooner.

4th:

I know we have changed course from the original business plan of past, but after reviewing everything we have received so far, I feel it is in the best interest to become an income producing company first, and then move forward with our drugs.

"Our supplement line will target the baby boomers and their need to keep the active lifestyle they have come to enjoy."

The credit market crisis has limited our ability to raise funds, so our only way to move forward was with the help of a few shareholders. Getting our product line out there will increase shareholder value which in turn should open up the credit market if we need it in the future.

5th:

Again the "Cavit Goal" as a Shareholder-owned Company is to do what the shareholders expect in these times of uncertainty: create a solid, financially fit company which in turn will "Create a return on our investment."

I am confident we will succeed to bring value to our company.

6th:

Looking to the future:

We hope to commit a percentage of our profits to our drug patent development.

Management will also look at a share buyback plan, dividend or investing our profits in this beaten down market.

Here's wishing everyone a Happy, Healthy Holiday, and a profitable New Year!

Cavit Sciences, Inc. ("Cavit") is a biotechnology company engaged in developing treatments and prevention for cancer, viral infections and related diseases along with supplements for the growing population. 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.