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<SEC-DOCUMENT>0000950144-08-001931.txt : 20080314
<SEC-HEADER>0000950144-08-001931.hdr.sgml : 20080314
<ACCEPTANCE-DATETIME>20080314132024
ACCESSION NUMBER:		0000950144-08-001931
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080314
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080314
DATE AS OF CHANGE:		20080314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Geovax Labs, Inc.
		CENTRAL INDEX KEY:			0000832489
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		IRS NUMBER:				870455038
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52091
		FILM NUMBER:		08688666

	BUSINESS ADDRESS:	
		STREET 1:		1256 BRIARCLIFF ROAD N.E.
		STREET 2:		EMTECH BIO SUITE 500
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30306
		BUSINESS PHONE:		404 727-0971

	MAIL ADDRESS:	
		STREET 1:		1256 BRIARCLIFF ROAD N.E.
		STREET 2:		EMTECH BIO SUITE 500
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DAUPHIN TECHNOLOGY INC
		DATE OF NAME CHANGE:	19940826

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUCCESSO INC
		DATE OF NAME CHANGE:	19910410
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g12331e8vk.htm
<DESCRIPTION>GEOVAX LABS, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>GEOVAX LABS, INC.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Date of report (Date of earliest event reported): March&nbsp;14, 2008</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>GEOVAX LABS, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>(Exact name of registrant as specified in Charter)</B>
</DIV>

<DIV style="margin-top: 12pt">
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Illinois<BR>
(State or other jurisdiction of <BR>
incorporation or organization)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-52091<BR>
(Commission File No.)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>87-0455038<BR>
(IRS Employee Identification No.)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>1256 Briarcliff Road N.E.<BR>
Emtech Bio Suite&nbsp;500<BR>
Atlanta, Georgia 30306<BR>
(Address of Principal Executive Offices)</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(404)&nbsp;727-0971<BR>
(Issuer Telephone number)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the Registrant under any of the following provisions (see General
Instruction A.2 below).
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR240.14a-12)</TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)).</TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4<SUP style="font-size: 85%; vertical-align: text-top">&#169;</SUP> under the Exchange Act (17 CFR
240.13(e)-4(c))</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Form 8-K and other reports filed by GeoVax Labs, Inc. (the &#147;registrant&#148;) from time
to time with the Securities and Exchange Commission (collectively the &#147;Filings&#148;) contain forward
looking statements and information that are based upon beliefs of, and information currently
available to, the registrant&#146;s management as well as estimates and assumptions made by the
registrant&#146;s management. When used in the Filings the words &#147;anticipate&#148;, &#147;believe&#148;, &#147;estimate&#148;,
&#147;expect&#148;, &#147;future&#148;, &#147;intend&#148;, &#147;plan&#148; or the negative if these terms and similar expressions as they
relate to the registrant or the registrant&#146;s management identify forward looking statements. Such
statements reflect the current view of the registrant with respect to future events and are subject
to risks, uncertainties, assumptions and other factors relating to the registrant&#146;s industry,
operations and results of operations and any businesses that may be acquired by the registrant.
Should one or more of these risks or uncertainties materialize, or should the underlying
assumptions prove incorrect, actual results may differ significantly from those anticipated,
believed, estimated, expected, intended or planned.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;8.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Other Events</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;14, 2008 we issued a press release reporting our fourth quarter and year-end
financial results for 2007. . A copy of the press release is attached to this Current Report.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" nowrap align="left">&nbsp;</TD>
    <TD width="10%">Exhibit&nbsp;99</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press Release</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: March&nbsp;14, 2008
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">GEOVAX LABS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Mark W. Reynolds
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Mark W. Reynolds&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>g12331exv99.htm
<DESCRIPTION>EX-99 PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99 PRESS RELEASE</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 24pt"><img src="g12331g1233101.gif" alt="(Name Logo)"></DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 18pt">Exhibit&nbsp;99
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 65%">Contact:<BR>
Tim Grace, Investor Contact<BR>
312.640.6667<BR>
Melanie Nimrodi, Media Contact<BR>
312.546.3508<BR>
mnimrodi@frbir.com<BR>
At the Company:<BR>
Donald Hildebrand / Jennifer Nelms<BR>
404.727.0971

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>GeoVax Labs, Inc. Reports Fourth Quarter<BR>
and Year-End 2007 Financial Results</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ATLANTA, Ga., March&nbsp;14, 2008 &#151; </B>GeoVax Labs, Inc. (OTC BB: GOVX), an Atlanta-based
biotechnology company focused on development of an HIV/AIDS vaccine, today announced its financial
results for the fourth quarter and year ended December&nbsp;31, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">GeoVax recorded a net loss of $1,155,870 for the fourth quarter ended December&nbsp;31, 2007, as
compared to $157,276 for the comparable period in 2006. For the full year of 2007, the Company
recorded a net loss of $4,241,796 as compared to $584,166 in 2006. GeoVax&#146;s operating results
fluctuate due to the timing of activities and related costs associated with its vaccine research
and development activities. The overall increase in the Company&#146;s net loss from 2006 to 2007 is
primarily attributable to:
</DIV>


<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Substantial costs for manufacture and testing of AIDS vaccines for Phase 2 human trials
planned for summer 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Increased research and development expenditures as the Company continued to support its
three ongoing Phase 1 human AIDS vaccine clinical trials and prepares for initiation of
Phase 2 trials in 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lower grant revenues during 2007. During the first nine months of 2007, GeoVax had no
grant revenues. During the fourth quarter of 2007, the Company recorded $234,004 in grant
revenues associated with an estimated $15&nbsp;million, 5&nbsp;year grant from the NIH (see
discussion below).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Overall higher general and administrative costs due to the additional costs associated
with being a public company subsequent to the merger between Dauphin Technology, Inc. and
GeoVax, Inc. in September&nbsp;2006. These higher costs included expansion of the Company&#146;s
management team, initiation of an investor relations program, increased legal and
accounting costs, and costs associated with achieving compliance with the Sarbanes-Oxley
Act of 2002.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Stock-based compensation expense of $1,518,496 during 2007. In accordance with
accounting rules, no stock-based compensation expense was recorded during 2006. This was an
accounting adjustment and did not result in actual cash expenditures.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Summarized financial information is shown below. GeoVax&#146;s full set of audited financial statements
are included in its Form 10-K filing with the Securities and Exchange Commission.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>2007 and Early 2008 Highlights:</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In July, GeoVax announced an early start of two new HIV/AIDS vaccine clinical (human)
trials. These FDA compliant trials were previously scheduled to start later in 2007 and are
the 3<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> and 4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> in a four clinical trial series intended to evaluate
both human safety and immune responses to GeoVax&#146;s HIV/AIDS vaccines. Starting April&nbsp;2006, the
1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> of these four trials evaluated a low dose (1/10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> of the vaccine
dose) vaccination program. Results from this blinded trial demonstrated excellent vaccine
safety and positive anti-HIV-1 immune responses. All trial participants were normal, healthy
individuals. The 2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP> of four trials, initiated September&nbsp;2006, is designed to evaluate results from full dose administration of GeoVax HIV/AIDS
vaccines. Recent data indicates excellent safety in this full dose trial with immune response
data from the majority of vaccine recipients.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MORE</B>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Page 2</B>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In June and July, GeoVax announced it engaged Althea Technologies, Inc., and BioReliance
Corporation, as contract manufacturers for its HIV-1 DNA and HIV-1 MVA (AIDS)&nbsp;vaccines. These
vaccines will be utilized in GeoVax&#146;s advanced Phase 2 clinical trials planned for 2008.
GeoVax HIV/AIDS vaccines are designed to prevent development of Acquired Immunodeficiency
Disease (AIDS)&nbsp;caused by the virus known as HIV-1 by vaccinating individuals prior to AIDS
virus infection. The vaccine regimen employs a two-vaccine &#147;prime-boost strategy.&#148; Trial
participants will be administered GeoVax HIV-1 DNA vaccine which &#147;primes&#148; the immune system
followed by GeoVax&#146;s HIV-1 MVA (Modified Vaccinia Virus) boost. Both vaccines deliver over 50%
of the AIDS virus components but can not cause AIDS. Safety and immunological results from
earlier as well as ongoing human trials are very encouraging thus supporting planned
acceleration of large scale Phase 2 clinical studies.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In September, GeoVax announced receipt of an estimated $15&nbsp;million Integrated
Preclinical/Clinical AIDS Vaccine Development &#091;IPCAVD&#093; Grant to support its HIV/AIDS vaccine
program. This large Grant was awarded by the National Institutes of Health-National Institute
of Allergy &#038; Infectious Disease &#091;NIH-NIAID&#093;, an agency of the U.S. Government. The grant
funding period is over a five year period commencing October&nbsp;2007. Only meritorious HIV/AIDS
prevention vaccine candidates are considered to receive an IPCAVD award. Candidate companies
are highly scrutinized and must supply substantial positive AIDS vaccine data to support their
application. IPCAVD grants are awarded on a competitive basis and are designed to support
later stage vaccine research, development and human trials. GeoVax will utilize this funding
to further its HIV/AIDS vaccine development, optimization, production and human clinical trial
testing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax announced in January&nbsp;2008 that it had been recognized by Georgia Bio, the state trade
organization, as a 2007 &#147;Deal of the Year&#148; award winner for receipt of the $15&nbsp;million IPCAVD
grant.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In September, GeoVax announced the presentation of successful human trial results for its
HIV/AIDS vaccines at the AIDS Vaccine 2007 Conference held August&nbsp;20-23, 2007 in Seattle,
Washington. GeoVax HIV/AIDS human trial results were presented by Dr.&nbsp;Paul Goepfert, MD in a
talk &#147;HIV-1 DNA Prime followed by Recombinant MVA Boost is Well Tolerated and Immunogenic When
Administered to Healthy Seronegative Adults.&#148; Dr.&nbsp;Goepfert, from the University of
Alabama-Birmingham, is Protocol Chair of HVTN 065, a series of human clinical trials currently
evaluating GeoVax&#146;s HIV/AIDS vaccine. GeoVax HIV/AIDS vaccine trial data was presented to
over 900 AIDS researchers at the week long conference. Conference Chair, Dr.&nbsp;Lawrence Corey
stated, &#147;It has become clear that a preventative vaccine is essential to controlling the
global AIDS epidemic.&#148; The AIDS Vaccine 2007 Conference was organized under the guidance of
the Global HIV Vaccine Enterprise, an alliance of independent global organizations dedicated
to accelerating preventative AIDS vaccine development. The conference reported the AIDS
epidemic continuing as a global threat with the disease increasing in every region of the
world, especially East and Central Asia and Eastern Europe where AIDS incidence was 21% higher
in 2006 than in 2004.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Key GeoVax HIV/AIDS Vaccine Human Trial conclusions presented at the AIDS Vaccine 2007
Conference included:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax DNA and MVA vaccines are <I>safe and immunogenic </I>(stimulate anti-HIV/AIDS immune
responses) at both low (1/10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) dose and full doses.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax vaccines were <I>well tolerated </I>with no or mild local and systemic reactions in the
majority of trial participants.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>80% of both the low and full dose trial participants responded to the vaccine which
<I>stimulated highly desirable anti-HIV T-cell (white blood cell) and antibody responses</I>.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>More volunteers had antibody responses </I>to the full dose than to the 1/10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>
dose vaccine, whereas response rates for T cells were similar for the 1/10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> and
full dose.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MORE</B>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Page 3</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP> MVA vaccination <I>positively increased the number of CD8 T cell responders
and antibody responders.</I></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Excellent results </I>led to authorization to start two new trials with GeoVax HIV/AIDS
vaccines which began in June&nbsp;2007.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In September, GeoVax responded to the announcement by Merck &#038; Co., Inc. that Merck&#146;s
candidate AIDS vaccine failed to provide protection in a human study designed to test for
efficacy. In this Merck trial involving high risk volunteers, an equal number of people
received either placebo or AIDS vaccine. The independent Data Safety Monitoring Board
recommended that the trial be stopped because it was not reaching its efficacy endpoints.
GeoVax responded to the discontinuance of Merck&#146;s trial by pointing out significant
differences between the GeoVax vaccine technology and the technology used in the Merck trial.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax AIDS vaccines advancing in human trials represent a significantly different vaccine
approach, vaccine composition and results to date than the Merck vaccine.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prototypes for the GeoVax vaccines were selected from a series of trials in non-human
primates for their ability to protect against the development of AIDS when vaccinated
individuals were administered an AIDS causing virus. At each major step along the
development pathway, GeoVax vaccines providing the best protection against AIDS were moved
forward.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax AIDS vaccines demonstrated excellent protective results in non-human primate
models, much better protective results than reported for Merck&#146;s vaccine in similar models.
GeoVax AIDS vaccines protected 22/23 non-human primates for over 3 <FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT> years and 5/6
non-vaccinated controls died of AIDS post-AIDS virus infection.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax AIDS vaccines are designed to elicit protective antibodies (Ab) as well as
protective T cells (white blood cells) against the AIDS virus. The Merck vaccine stimulates
only T cells for providing protection and does not include the Env protein of HIV which is
the target for protective antibody (Ab).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protective Ab has been difficult to elicit with HIV/AIDS vaccines. GeoVax has
approached this challenge by vaccinating with the natural form of Env (HIV envelope
antigens) under conditions that elicit tightly binding Ab. GeoVax studies in non-human
primates clearly show this Ab correlates with protection.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax vaccines use an attenuated smallpox vaccine to provide pulses of HIV proteins
(antigen)&nbsp;to stimulate protective anti-AIDS vaccine responses. Pulses of antigen from the
GeoVax vaccines elicit T cell responses that rapidly mobilize and then contract into a
state called &#147;central memory&#148; from which they rapidly expand to fight the appearance of
HIV.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In November, GeoVax announced excellent safety and immunogenicity data from its full-dose
HIV/AIDS vaccine human trial which began in September&nbsp;2006. This full-dose trial is the
second in a series of four Phase 1 human trials designed to test the safety and immunogenicity
of the GeoVax HIV/AIDS vaccines. Involving 36 participants of which 30 received vaccine and 6
received placebo, this trial protocol included vaccination with two full-doses of GeoVax&#146;s DNA
vaccine to prime the immune response followed by two full-doses of GeoVax&#146;s MVA vaccine to
boost the immune response. GeoVax&#146;s DNA and MVA vaccines express over 50% of the AIDS virus
(HIV-1) protein components in order to stimulate a broad anti-HIV immune response. The
vaccines cannot cause AIDS because they do not include complete virus. A Phase 1 human trial,
started in April&nbsp;2006, evaluated the delivery of only 1/10th of the full dosage and utilized
the same vaccine regimen evaluated in the full dose trial.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From data collected from the 26 participants who completed the trial, the following positive
conclusions were observed:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>GeoVax HIV/AIDS vaccines, both DNA and MVA, continue to demonstrate that they are quite
safe and immunogenic following the delivery of the four full-doses (two of each vaccine)
used in the trial&#146;s protocol.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The full-dose regimen of GeoVax vaccines continues to be well tolerated without any
type of reaction, mild or systemic, in the majority of participants.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CD4 T-cell responses are high in both the low and full-dose regimens, 84% and 78% of
participants.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MORE</B>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Page 4</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CD8 T-cell responses are present in 42% of the full-dose recipients and 33% of the
1/10th dose recipients.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Antibody responses to the envelope glycoprotein (Env) increased following the fourth
vaccination, and were present in 88% of the full-dose participants.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Delivery of the fourth vaccination increased the frequency and magnitude of the CD8
T-cell and Antibody responses.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During November&nbsp;2007 through January&nbsp;2008, GeoVax raised approximately $3&nbsp;million in equity
capital through a series of privately negotiated transactions with individual accredited
investors and one institutional investor. These funds, along with the funds received pursuant
to the NIH grant discussed above will be used to offset the Company&#146;s ongoing research and
development costs and operating losses. GeoVax will continue to seek additional financing
through offerings of its equity securities.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In February&nbsp;2008, GeoVax announced the addition of company co-founder Dr.&nbsp;Harriet Robinson
to its staff as Vice President of Research &#038; Development. Dr.&nbsp;Robinson is known worldwide for
her outstanding work on retrovirus biology and development of DNA vaccines with special
emphasis on HIV/AIDS. Significant advances by GeoVax&#146;s HIV/AIDS vaccine development program
warrant Dr.&nbsp;Robinson&#146;s full time participation. She has been instrumental in GeoVax&#146;s success
through her HIV/AIDS vaccine development activities while at Emory University and as Chief
Scientific Advisor to GeoVax. Dr.&nbsp;Robinson joined GeoVax part time in November&nbsp;2007 and
became a full time employee in February&nbsp;2008. By focusing her efforts exclusively at GeoVax,
Dr.&nbsp;Robinson intends to speed up the vaccine development and human trial evaluation program
required to meet FDA regulatory requirements and future vaccine commercialization efforts.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During February&nbsp;2008, GeoVax announced that its Vaccine is only the 5<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> AIDS
Vaccine moving forward into Phase 2a human trials by the HIV Vaccine Trials Network (HVTN), a
network supported by the National Institutes of Health (NIH). Most recently, GeoVax Senior
Vice President of Research &#038; Development, Dr.&nbsp;Harriet Robinson, and President, Don Hildebrand,
attended a meeting with key HTVN officials in Seattle, Washington to plan and prepare
necessary documents for the next phase of testing of GeoVax&#146;s promising HIV/AIDS vaccine,
namely Phase 2a human trials designated as Protocol # HVTN 205. The other four Vaccines which
had/or are participating in the HVTN human trials are designated as Protocol # HVTN 201-204.
GeoVax AIDS vaccine technology and composition are significantly different than the Merck &#038;
Co. Inc. AIDS vaccines that recently had their human trials halted due to safety and
effectiveness concerns.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About GeoVax Labs, Inc.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">GeoVax Inc. is an Atlanta, Georgia USA biotechnology company, established to develop, manufacture,
license and commercialize human vaccines for diseases caused by HIV-1 (Human Immunodeficiency
Virus) and other infectious agents. GeoVax&#146;s vaccine technology is protected by 20 issued and
filed patent applications.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For more information, contact the Company at (404)&nbsp;727-0971 or visit www.geovax.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Safe Harbor Statement: </I></B><I>All statements in this news release, not statements of historical fact, are
forward-looking statements. These statements are based on expectations and assumptions as of the
date of this press release and are subject to numerous risks and uncertainties which could cause
actual results to differ materially from those described in the forward-looking statements. Risks
and uncertainties include, but are not limited to, whether; GeoVax can develop and manufacture
these vaccines with the desired characteristics in a timely manner, GeoVax&#146;s vaccines will be
determined to be safe for use in humans, GeoVax&#146;s vaccines will be effective in preventing AIDS in
humans, the vaccines will receive the regulatory approvals necessary to be licensed and marketed,
GeoVax can raise the required capital to complete development of its vaccines, there is development
of competitive products that may be more effective or easier to use than GeoVax&#146;s products, and
other factors over which GeoVax has no control. GeoVax assumes no obligation to update these
forward-looking statements, and does not intend to do so. Certain matters discussed in this news
release are forward looking statements involving certain risks and uncertainties including, without limitations, risks detailed in the
Companies Securities and Exchange Commission filings and reports.</I>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>MORE</B>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>GEOVAX LABS, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Statements of Operations Data<BR>
(unaudited)<BR>
(amounts in thousands, except per share data)</B>
</DIV>

<DIV style="margin-top: 12pt">
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 0px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 0px solid #000000">Twelve Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2007</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2006</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2007</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2006</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Grant Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">237</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">237</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">853</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Research and development</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,757</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">666</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,784</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">843</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="14" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,403</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">561</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,541</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,509</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="14" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Loss from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,166</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(187</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,304</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(656</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="14" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(1,156</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(157</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(4,242</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(584</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="14" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net loss per common share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.00</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.00</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.00</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="14" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Weighted averages shares outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">717,925</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">709,354</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">714,102</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">414,919</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 36pt"><B>Balance Sheet Data<BR>
(unaudited)<BR>
(amounts in thousands)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2007</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2006</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,990</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Working capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,392</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,933</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,396</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deficit accumulated during the development stage</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,525</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,284</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,203</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">* * * * * * * * * * * * * * *

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
