Gamma Pharmaceuticals, Inc. Holds Special Shareholders Meeting

"Gamma" or the "Company held a Special Shareholders Meeting (the "Meeting") as disclosed in the Company's press release dated June 21, 2011. The June 21, 2011 press release invited shareholders to attend in person or by a special telephone link. The meeting was held at the Bellagio Resort, Las Vegas NV. The agenda for the meeting consisted of a management presentation by the Company's CEO and CFO and an opportunity for the Company's current investors to ask questions. The meeting was attended by Company investors, and a telephone line was made available to those who were unable to attend in person. Management's presentation consisted of an operational and financial review of the past four years and outlined a plan to move the Company forward in the months and years ahead. The Meeting was informational only, and no shareholder vote was taken on any issue. The principal operational highlight was the announcement that Gamma Gel product was now in the process of going on the shelves of a major Pharmacy chain in the New York metropolitan area. The financial review provided a general summary of cash expenditures versus money raised from investors, of which approximately $4,000,000 had been invested to date in the business. As the Company's last Form 10-Q filing with the Securities and Exchange Commission was for the quarter ending September 30, 2009, certain financial information was disclosed subsequent to the Company's last Form 10-Q filing. Specifically, the Company had arranged for a $150,000 revolving off-balance sheet factoring line with an existing investor to fund Company inventory and accounts receivable. Approximately $30,000 had been drawn down on this line so far to pay for product manufacturing and shipping. In addition, a Term Sheet has been arranged with an investor group for $1,400,000 in convertible debt financing. Upon closing of this facility, it is intended that the first $200,000 will be used to bring current the Company's SEC filings, with the remainder of the line to be used to provide working capital. Management stressed the fact that financing was now available to begin to bring the Company's products to market, and that Management and investors should be more interested in results on a monthly and quarterly basis than on longer range financial forecasts. The Company undertook to host conference calls or webinars on a more frequent basis so that shareholders, potential investors and market participants will have greater visibility into the Company on a regular basis.