Cellceutix

Thank You - Seite 2

"I don't typically engage in dialogue about whether or not Cellceutix is undervalued, but I encourage you to look at market caps of companies that have a fraction of our potential," commented Leo Ehrlich, Chief Executive Officer at Cellceutix.

Mr. Ehrlich added,

"Although I don't like to give any publicity to ridiculous assertions made against me or Dr. Menon, I feel the need to address them at this time to hopefully put some things to rest for good. As far as my time at Saliva Diagnostic/StatSure Diagnostics, I began as CEO on October 8, 1999 (http://www.sec.gov/Archives/edgar/data/885534/000095013099005795/0000950130-99-005795.txt). The following is a link to the SSUR September 30, 1999 10Q filing showing the state of finances at SSUR:
http://www.sec.gov/Archives/edgar/data/885534/000100547700002048/0001005477-00-002048.txt.

At that time, the company showed $73,073 in cash, $107,471 in accounts receivable, $96,290 in inventories and $2,834 in prepaid expenses. Equipment, leasehold improvements and patents had not much value. Stepping in to try and right the ship, I could only immediately count on the cash on hand of $73,073. The current liabilities were $2,898,691 with expenses mounting daily. The stock was essentially not trading. A miracle was needed and, unfortunately, I couldn't produce that miracle, but I did give it my best.

With respect to Nanoviricides, I was one of the founders in 2005. On May 16, 2007, I resigned from the company. During my time there of approximately two years, I accomplished many things, including forming a corporate structure and having the company become SEC compliant. While I was there, the company grew in value. Since the day I left of May 16, 2007, I haven't spoken to Anil Diwan, its Chairman, not even one time; and perhaps (at most) five times to its CEO, Eugene Seymour.

As far as self-enrichment with CTIX, long-term shareholders know myself and Dr. Menon deferred our salaries for many years. We were working very hard to build the company without receiving a paycheck. Not only that, we loaned Cellceutix millions of dollars to help develop the company and its compounds when no other financing options were available. This can be seen in SEC filings for the years 2008-2011. Our spouses thought we were nuts, but we were on -- and remain on -- a mission to develop our drugs.