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Shareholder letter from the CEO addressing, current issues and opportunities

About the Company
Amarillo Biosciences is an emerging biopharmaceutical company working in Phase II human clinical trials with a well-characterized therapeutic agent, low-dose interferon alpha. The interferon alpha in our oral formulation is produced naturally from human cells, not by recombinant technology. We are studying this product in human clinical trials in several conditions where innovative and patient-friendly therapies are needed. High-dose injectable interferon is currently used for the treatment of cancer, multiple sclerosis and hepatitis. Low-dose oral interferon has been shown to have fewer side effects and is less costly than high-dose injectable interferon.		Our management team and corporate partners are working to develop this therapy for the benefit of patients and physicians worldwide. We have conducted more than two dozen clinical trials for human health in Asia, Europe, Africa and North America. We have license to technology from Texas A&M University and license agreements with four companies. Phase III trials for Sjögren's syndrome have been conducted for our lead product candidate, low- dose oral interferon alpha, but more studies will need to be conducted to achieve FDA approval.