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Nutrition 21 Inc. Message Board

  • jbhdallas2000 jbhdallas2000 Aug 6, 2010 2:31 PM Flag

    How will NXXI issue 350,000,000 new shares?

    http://biz.yahoo.com/e/100715/nxxi.ob8-k.html

    Prop 1 approved an additional 350,000,000 new share. Any news on how they will issue those shares?

    This could wipe everyone out....

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • "September 11, 2011"
      ---

      1 Year, 9 Days ?
      374 Days ?

      ?

    • "wipe everyone out...."
      ---

      150,000,000 to 500,000,000?

      ?

    • When the CAT is away, the MICE will play

    • investor relations expenses
      ---

      FORM 10-Q
      05/17/2010
      Page 13
      "G&A were $0.7 million for the three month period ended March 31, 2010 compared to $1.0 million for the same period a year ago. The decrease is primarily due to a reduction in investor relations expenses ($0.1 million) and consulting fees ($0.1 million)."

    • April 29, 2010
      PURCHASE, N.Y., April 29 /PRNewswire-FirstCall/
      "Net loss from continuing operations for the nine months ended March 31, 2010 was $1.8 million, or ($0.02) per diluted common share, compared to $3.5 million, or ($0.05) per diluted common share, in the corresponding period a year ago."

      FORM 10-Q
      05/17/2010
      Page 8
      "We have incurred annual operating losses and, at March 31, 2010, we had an accumulated deficit of approximately $132.8 million."

      "The current economic conditions are expected to continue to negatively impact our ability to generate net income."

    • "September 11, 2011"
      ---

      FORM 10-K
      10/13/2009
      Page F-19
      "On September 10, 2007, the Company entered into a securities purchase agreement under which the Company for $17,750,000 sold to private investors 17,750 shares of 8% Series J Convertible Preferred Stock (the “Preferred Stock”) and warrants to purchase 6,715,218 shares of common stock."

      "The Company must redeem the Preferred Stock at the original issue price plus accrued dividends on September 11, 2011, or earlier on the occurrence of certain default events. Accordingly, the carrying value of the preferred stock is included in noncurrent liabilities in the consolidated balance sheets. The Securities Purchase Agreement among other things also limits borrowings by the Company and the issuance of additional series of preferred stock by the Company."

      FORM 10-Q
      05/17/2010
      Page 10
      "As further explained in Note 12 in the 2009 Annual Report on Form 10-K/A, the Company must redeem its 8% Series J convertible preferred stock at the original issue price plus accrued dividends on September 11, 2011 and, accordingly, the carrying value of the preferred stock is included in non-current liabilities in the condensed consolidated balance sheets. The agreement also provides for early redemption of the preferred stock on the occurrence of certain default events."

      FORM 10-Q
      05/17/2010
      Page 8
      "At March 31, 2010, we had cash and cash equivalents of $0.3 million, a decrease of $1.1 million from June 30, 2009, and we had a working capital deficiency of approximately $0.1 million."

 
NXXIQ
0.00120.0000(0.00%)Jan 17 9:37 AMEST

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