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New York, NY - May 22, 2003 - Manhattan Scientifics, Inc. (OTCBB: MHTXE) announced today that effective Friday, May 23, 2003, the company's shares will trade on the Over the Counter Pink Sheet quotation system.
NASD Rule 6530 requires companies to be current with periodic SEC filings to be eligible for quotation on the Bulletin Board. As previously disclosed, the company has not filed its Form 10KSB for the year ending December 31, 2002 or its Form 10QSB for the quarter ending March 31, 2003. The company anticipates making future filings with the SEC and to reapply for trading on the OTC Bulletin Board at that time.
Manhattan Scientifics, Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of disruptive technologies in the nano medicine space. The company is presently developing commercial medical prosthetics applications for its ultra-fine grain metals and plans to commercialize the cancer research work and nano medical applications developed by Senior Scientific LLC, a unit of the Company.
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.