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The cupboard, she looks bare!
It looks so man 
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PHARMANETICS, INC. IS DISSOLVED!
| Name | Name Type | ||
 PHARMANETICS, INC. | Legal | ||
| Business Corporation Information | |||
| SOSID: | 0465625 | ||
| Status: | Dissolved | ||
| Date Formed: | 7/27/1998 | ||
| Citizenship: | Domestic | ||
| State of Inc.: | NC | ||
| Duration: | Perpetual | ||
| Registered Agent | |||
| Agent Name: | Robbins, Larry E. | ||
| Registered Office Address: | 4101 Lake Boone Trail Suite 300 Raleigh NC 27607 | ||
| Registered Mailing Address: | P O Box 5036 Cary NC 27512 | ||
| Principal Office Address: | 9401 Globe Center Dr Ste 140 Morrisville NC 27560 | ||
| Principal Mailing Address: | P O Box 5036 Cary NC 27512 | ||
| Stock | ||||
| Class | Shares | No Par Value | Par Value | |
| Common | 40000000 | Yes | N/A | |
| Preferred | 750000 | Yes | N/A | |
| Preferred A | 120000 | Yes | N/A | |
| Preferred B | 130000 | Yes | N/A | |
05/13/2005 (16:48 ET) PHAR: Filed New Form 15-12G
Authorized Shares: 40,000,000
FEBRUARY 20, 2008 UPDATE
Shares Float
Total Shares Outstanding 10,604,517
% Owned by Insiders %
% Owned by Institutions %
Market Cap. 37,116
Trading Volume - Today 530,000
Trading Volume - Average 128,200
Trading Volume - Today vs. Average 413.42 %
Earnings Per Share -0.79
PE Ratio
Record Date 2008-Feb
Funkhouser is still in control of this empty shell according to NC SOS site. The pharmanetics website is gone. He's also the president of nContact Surgical.
http://www.ncontact.us/company/index.shtml
There are some small VCs listed, could they be buying up the shares before they announce a RM? PHAR seems like a clean shell.
DELAYED LEVEL II http://66.201.236.134/export/level2.jsp?symbol=phar
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Southeast Texas business in brief
Sunday , July 23, 2006 06:16ET
Jul 23, 2006 (The Beaumont Enterprise - Knight Ridder/Tribune Business News via COMTEX) -- Drug company will create 50 local jobs
BEAUMONT -- Helena Laboratories, 1530 Lindbergh Drive, said it acquired the products and technology of PharmaNetics Inc., of Morrisville, N.C., and will move its operations to Beaumont, creating 50 jobs during the next two years.
Terms of the acquisition were not disclosed.
The new products will expand Helena's Point of Care division, which includes products for blood platelet function screening and activated clotting time-testing.
PharmaNetics developed a dry chemistry system that is used to rapidly assess blood-clot formation and dissolution for patients where they are receiving care.
The products help in treatment of angina, heart attack, stroke, and lung embolisms.
Helena, founded in 1966, will market the products under the name "Cascade POC."
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FROM PRE 14A 5/19/05 http://www.secinfo.com/d14D5a.z288f.htm
Purchase Price for Assets; Distribution of Net Cash Received Pursuant to Asset Sale Plan
The purchase price for the assets to be sold pursuant to the Asset Sale Plan will be negotiated by our management at arms-length with the party or parties that desire to acquire some or all of the assets. Management will consult with such financial, legal and other advisors as they deem appropriate in these negotiations. To the extent material and as may be required by applicable law, the final purchase price and other material terms of any actual sale of assets pursuant to the Asset Sale Plan will be approved by the Board of Directors.
Within 12 months of the closing of the final sale of assets pursuant to the Asset Sale Plan, we are required to distribute to our shareholders the cash we received in the sale of the assets, if any, net of expenses incurred in connection with the sale (including the fees and expenses of our legal, financial and other advisors) and net of any amounts that may be payable to our creditors or pursuant to other contractual or other obligations. In the event any cash from the sale of assets are held in escrow or otherwise encumbered for more than 12 months following the closing of a sale, we will promptly distribute such encumbered cash as soon as it is released to us. If we receive any property other than cash in connection with the sale of assets under the Asset Sale Plan, our management will liquidate such assets for cash in a manner designed, in their discretion, to maximize the cash to be distributed to our shareholders.
Any cash we receive as a result of the sale of assets under the Asset Sale Plan will be available for distribution to our shareholders in accordance with the priorities and preferences set forth in our Articles of Incorporation. Our Articles of Incorporation provide that, prior to the distribution of any such cash to the holders of our common stock, the holders of our Series A and Series B preferred stock shall first receive their full senior liquidation preference. As of the date hereof, the aggregate liquidation preference payable to the holders of our Series A and Series B preferred stock was approximately $17.8 million. Given the nature and estimated value of these assets and in light of the fact that we ceased substantially all of our operations in March 2004, management considers it highly unlikely that the net cash to be distributed to our shareholders, if any, from any sale of these assets will exceed the liquidation preference payable to holders of our Series A and Series B Preferred stock. As a result, the holders of our common stock will likely not be in a position to receive any cash distributions as a result of the sale of the assets pursuant to the Asset Sale Plan, and the holders of our Series A and Series B preferred stock might receive only a small fraction of the full liquidation preference that they are entitled to under our Articles of Incorporation. Because we do not expect to realize substantial proceeds, if any, from the sale of our remaining assets, management believes that perhaps the only meaningful opportunity for a distribution to shareholders would be as a result of the receipt of a sizeable recovery by PharmaNetics in its litigation against Aventis. There can, however, be no assurance that PharmaNetics will prevail in this litigation or that the amount of any recovery would provide significant available proceeds for distribution to the shareholders.
