GENETHERA, INC. (OTCMKTS:GTHR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 6, 2018, Fred Oeschger resigned as a member of the board of directors of GeneThera, Inc. (the “Company”). In his resignation letter, Mr. Oeschger stated that he did not feel that Company information was communicated as timely or as completely as necessary for him to fulfill his obligations as a board member. He also stated that he disagreed with the Company’s decision to make filings and other public communications without board approval. A copy of his resignation letter is attached hereto as Exhibit 99.1.
The Company disagrees with Mr. Oeschger’s statements that information was not communicated in a timely manner. Management was trying to complete the filings on an expedited basis to meet a deadline imposed by the U.S. Securities and Exchange Commission. The Company provided Mr. Oeschger and other board members with drafts of the SEC reports as soon as it could and at least two days prior to the filing deadline and sought Mr. Oeschger’s comments but did not receive any. Management also was available during this time to discuss any of the draft filings with Mr. Oeschger, but Mr. Oeschger did not make any inquiries about the draft reports. A majority of the board of directors informally approved the filing of the reports before the reports were filed and later the board of directors formally ratified the filing of the reports. Hence, board approval was obtained.
The Company has furnished Mr. Oeschgerwith a copy of this Current Report on Form8-K on December 13, 2018, providing him with the opportunity to furnish the Company with a letter addressed to the Company stating whether he agrees with the statements made by the Company herein and if not, stating the respects in which he does not agree. The Company will file any letter received by it from Mr. Oeschger as an exhibit by an amendment to this Form 8-K within two business days after receipt.
Financial Statements and Exhibits.
GENETHERA INC Exhibit
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About GENETHERA, INC. (OTCMKTS:GTHR)
GeneThera, Inc. (GeneThera) is a biotechnology company. The Company focuses on improving food safety by applying the molecular technologies to eradicate cross-over (zoonotic) diseases, such as Johne’s Disease, Mad Cow Disease, Chronic Wasting Disease and E.coli. The Company focuses on developing molecular diagnostic tests, therapeutics and vaccines to help control diseases in animals and humans. GeneThera has developed diagnostic assays for use in the agricultural and veterinary markets. The Company offers specific assays for Chronic Wasting Disease among elk and deer, and Mad Cow Disease among cattle. The Company is engaged in the development of E. coli (predominantly cattle) and Johne’s disease (predominantly dairy cattle and bison) diagnostics. GeneThera’s Integrated Technology Platform (ITP) is the foundation for fast-track ribosomal DNA (rDNA) vaccine development. The Company is working on the development of a recombinant DNA vaccine for Johne’s disease.