On 10th August and 7th September 2007, we published articles about the stem cell laboratory and Licensed Treatment Centre that Stemedica Cell Technologies, Inc. proposes to establish at Winterhaven, on Bermuda.

Unfortunately, the first of those articles described the new facility as a "sham" and referred to it as a "money laundering expedition". One of the 7th September articles quoted an unnamed "professional" as saying "it's a great money laundering scam".

We now accept that these statements were erroneous.

We also wish to make clear that the suggestions that Stemedica's proposed facility was a sham and that Stemedica was involved in money-laundering are to the best of our knowledge completely false and without foundation.

We referred to Dr. Arthur Tucker, as a Bermudian based in the United Kingdom, who is Chairman of a committee of the East London and The City Research Ethics Committee, and cited him as having identified an absence of intellectual property and peer reviewed material associating Stemedica and its Board of Advisors with stem cell research.

We acknowledge that there exists nothing of which we are aware that would suggest other than that Stemedica is a reputable company with a scientific background.

We apologise unreservedly to Stemedica for any offence that we may have caused them".