Exhibit 99.1



 VASO ACTIVE PHARMACEUTICALS ANNOUNCES SUSPENSION OF TRADING OF ITS COMMON STOCK
     AND ADVISES THAT ITS PUBLIC REPORTS AND CERTAIN OTHER PUBLICLY RELEASED
      INFORMATION SHOULD NOT BE RELIED UPON AND IT HAS DETERMINED TO CAUSE
                    ITS SECURITIES TO BE REMOVED FROM NASDAQ


         DANVERS, Mass.--(BUSINESS WIRE)--April 7, 2004--Vaso Active
Pharmaceuticals, Inc. (NasdaqSC: VAPH) today announced that the U.S. Securities
and Exchange Commission (the "Commission") temporarily suspended trading of the
securities of Vaso Active Pharmaceuticals, Inc. ("VAPH"), effective 9:30 a.m. on
April 1, 2004. The suspension, by its terms, terminates at 11:59 p.m. on April
15, 2004. The Commission also stated that it temporarily suspended trading in
the securities of the Company because of questions regarding the accuracy of
assertions by the Company and by others, in press releases, its annual report,
its registration statement and public statements to investors concerning, among
other things: (1) the U.S. Food and Drug Administration ("FDA") approval of
certain key products, and (2) the regulatory consequences of the future
application of their primary product. The Commission cautioned broker-dealers,
shareholders, and prospective purchasers that they should carefully consider the
foregoing information along with all other currently available information and
any information subsequently issued by the Company. Further, the Commission
advised that brokers and dealers should be alert to the fact that, pursuant to
Rule 15c2-11 under the Securities Exchange Act of 1934 (the "Exchange Act"), at
the termination of the trading suspension, no quotation may be entered unless
and until they have strictly complied with all of the provisions of the rule. A
copy of the full text of the Commission release, announcing the trading
suspension, may be found at the following hyperlink:
http://www.sec.gov/litigation/suspensions/34-49513.htm

         On April 5, 2004, representatives of the Company, together with newly
retained special securities counsel and newly retained FDA counsel, met with the
Staff of the Commission (the "Staff") for the purpose of discussing the concerns
that led to the suspension of trading of the Company's securities. During that
meeting, the Company stated its intention to review its public disclosure, press
releases and other public statements and to take whatever remedial action may be
appropriate. It also represented that it would diligently seek to clarify the
status of its products under current FDA regulations, would issue disclosure
regarding the FDA regulation of its activities and products and the results of
its dialogue with the FDA, and would endeavor to resolve on a timely basis any
concerns communicated by the Staff. The Staff stated that it had been authorized
by the Commission to seek injunctive relief against the Company, articulated the
concerns that gave rise to the suspension of trading, and informally requested
that the Company provide certain information to the Staff. The Company agreed to
cooperate with the Staff, committed to review its disclosure promptly and
committed to take any remedial action that may be required

         The Company cannot predict what, if any, actions may be taken by the
Commission; nor is the Company aware whether the FDA is contemplating any action
against the Company. The Company, through counsel, intends to commence dialogue
with the FDA promptly to address any FDA concerns.

         Due to the ongoing nature of this matter, the Company is unable to
assess definitively its impact, except that the Company has committed not to
sell its products until this matter has been concluded to the satisfaction of
the Commission. The commitment to refrain from selling the Company's products
may have a material adverse impact on the Company. The Company will make public
announcements and will file public reports with the Commission, when
appropriate, including a complete description of regulations applicable to the
Company's products and operations, as well as disclosure regarding the status of
its products under applicable FDA regulations. No estimate can be given as to
the date when the Company's efforts to revise its disclosure will be completed;
nor can any estimate be given as to the date






when its securities will resume trading. However, the Company is reasonably
certain that the necessary disclosures and filings will not be made prior to the
termination of the current trading suspension, and, therefore, the Company
believes that its securities will not be able to be traded at that time. The
Company will not seek to have its securities resume trading until it is
reasonably comfortable that the concerns that gave rise to the trading
suspension have been satisfactorily resolved.

         By letter dated April 2, 2004, the Nasdaq Listing Investigations
department of The Nasdaq Stock Market, Inc. ("Nasdaq") notified the Company that
it commenced an inquiry to ensure the Company's ongoing compliance with Nasdaq's
inclusion requirements and requested certain information from the Company. The
letter further disclosed that after review of the information provided by the
Company, Nasdaq could take any action that may be appropriate under its
Marketplace Rules including removal of the Company's securities from Nasdaq. In
view of the substantial administrative and cash burdens being borne by the
Company at this time, the Company has determined that it is in the best interest
of shareholders to voluntarily cause its shares to be removed from Nasdaq so
that the Company can focus its attention and resources on addressing the other
issues addressed in this press release. The Company has been informed that its
securities will be delisted, effective the opening of the markets on Thursday,
April 8, 2004. At an appropriate time, the Company will seek to cause its
securities to be quoted on an exchange, Nasdaq or an automated quotation system.
There can be no assurance that the Company will be successful.

         THE COMPANY URGES INVESTORS NOT TO RELY ON THE COMPANY'S EXISTING
REPORTS FILED PURSUANT TO THE EXCHANGE ACT, NOR ON ANY ANNOUNCEMENTS, PRESS
RELEASES OR PUBLIC STATEMENTS ISSUED BY IT OR OTHERS RELATING TO ITS FINANCIAL
CONDITION, RESULTS OF OPERATIONS OR ITS BUSINESS OR PRODUCTS GENERALLY, OR ANY
EARNINGS GUIDANCE PREVIOUSLY RELEASED BY THE COMPANY. THE COMPANY FURTHER URGES
INVESTORS TO REFRAIN FROM TRADING IN THE COMPANY'S SECURITIES UNTIL THE COMPANY
PROVIDES FORMAL GUIDANCE THAT THE CONCERNS THAT ARE THE SUBJECT OF THIS RELEASE
HAVE BEEN FULLY ADDRESSED.

FORWARD-LOOKING STATEMENTS

         Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on current expectations,
estimates and projections about the Company's industry, management's beliefs and
certain assumptions made by management. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to
predict. Such risks include the suspension of sales of its products and the
trading of its securities, the ability to cause its securities to be listed on
an exchange, Nasdaq or an automated quotation system in the future, as well as
questions concerning applicability of FDA regulations to the Company's products
and business, and the implications thereof. Because such statements involve
risks and uncertainties, the actual results and performance of the Company may
differ materially from the results expressed or implied by such forward-looking
statements. Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise required by law,
the Company also disclaims any obligation to update its view of any such risks
or uncertainties or to announce publicly the result of any revisions to the
forward-looking statements made here; however, readers should review carefully
reports or documents the Company hereafter files with the Commission.

Contact:
Matt Carter
Vaso Active Pharmaceuticals
978-750-1991 x28
mcarter@vasoactive.us