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Sounds like she got in cheap making mega millions now.
ProPhase Labs Announces $10 Million Unsecured Debt Financing
DOYLESTOWN, Pennsylvania, Sept. 18, 2020 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com) today announced that it has closed on a $10 million unsecured debt financing. The Company has issued two unsecured, partially convertible, promissory notes for an aggregate principal amount of $10 million (the “Notes”).
Each Note is due and payable on the third anniversary of the date on which the Note was funded (for each Note, the “Closing Date”) and accrues interest at a rate of 10% per year from the Closing Date, payable on a quarterly basis, until the Note is repaid in full. The Company has the right to prepay the Notes at any time after the 13 month anniversary of the Closing Date upon providing written notice to the lenders, and may prepay the Notes prior to such time with the consent of the lenders. The lenders have the right, at any time, and from time to time, on and after the 13 month anniversary of the Closing Date, to convert up to an aggregate of $3 million of the Notes into common stock of the Company at a conversion price of $3.00 per share. Repayment of the Notes has been guaranteed by the Company’s wholly-owned subsidiary, Pharmaloz Manufacturing, Inc.
The Company intends to use the proceeds from the Notes for working capital and general corporate purposes, which may include capital expenditures, product development and commercialization expenditures, and acquisitions of companies, businesses, technologies and products within and outside the consumer products industry.
Ted Karkus, Chairman and CEO of the Company stated “Prior to this financing, the Company already had approximately $10 million in working capital, the majority of which is in cash and cash equivalents (inclusive of the anticipated proceeds from the previously announced pending sale of the Company’s Doylestown, Pennsylvania facilities). With this additional capital available to us, we can leverage our human capital and other assets to pursue new and exciting business opportunities and acquisitions.”
About the Company
We are a manufacturing and marketing company with deep experience with OTC consumer healthcare products and dietary supplements. We are engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States. This includes the development and marketing of dietary supplements under the TK Supplements® brand.
In addition, the Company also continues to actively pursue acquisition opportunities for other companies, technologies and products inside and outside the consumer products industry. For more information visit us at www.ProPhaseLabs.com.
Yeah who knows they might not survive past December.
No stairs for PRED it took the high speed elevator to the basement.
Put us out of our misery and close the doors. This way Brad can sell off everything and walkaway a rich man without giving any scraps to the shareholders. Wouldn't that be the icing on the cake for him!
Do you think this will hold double digits today?
Nio breaking out 21.60 clear blue skys ahead!
Will that then double the float? Causing it to drop .06?
35 you must mean .35? Or .035 by end of year?
Who says they're trying to get off the grey's? I thought they want to stay here so they can't be naked shorted? Per the board guru's.
Agree a break out above 21 clear sailing north.
Gap and crap have to be an experienced trader to know to sell the open on gappers. Or go short on BB stocks. Just the opposite when they gap down buy that biatch.
Yeah more BS as USUAL. I go with D&T dumping P RED for fear of no payment forthcoming.
Yeah that would be a very bad scenario. Now if TMO offered to buy them that would be great. But they don't want anything pred has.
LOL but so TRUE! They couldn't of done worse putting a 6th grader in charge. I know some that would of done much better than Brad.
Don't expect much from the 10q except more disappointment. I hope I am wrong. But I don't think I am.
What was FAKE? A BLANK PAGE with pen to PAPER! A REAL contract? Or was it meant to be TACIT, insinuated? Obviously it was BS, there was no contract with the Chinese. This was way before the fake covid tests.
Do you think we'll hold double digits this week?
Is that why they screwed Wellgistics over?
And several others who had to file lawsuits against them?
None of that applies to the scammers at PRED.
Fake photos come to mind.
Truth in lies is more like it.
All the buy orders are below .01 that's when you'll see some volume.
Contact PRED lol they don't have anyone answering the phone. They can't afford a secretary.
What happened to the ASSurance AB tests.
Can you imagine pred is red yet again.? Day in day out.
Selling socks and shirts they might make more money from that than their bite-tech.
Morally, ethically and physically! ALL 3 they hit the tri-fecta!!!!
I am seeing a pattern here. Every time there is news this pops. Then a few days later back to .09. Just mm making some money on .01 penny moves.
When is the Cam going to be up and running for the construction?
Simply no wants to buy this at .16. Bids are in at .05 to .001
Just watch it fall later today.
Don't foget Thomas and Mackey !
Nice steady consistent drop going.
The big guy said it this year not before HB, but after. We can only hope some day it gets back to $1, I know many would sell at .50 and be gone. The sky fell on this one long ago.
I don't see them monetizing anything. SC is their only hope.
Wonder how low she'll go today?
I doubt there will ever be any Covid tests. SMOKE and MIRRORS from this scam outfit. $35 by the end of the year the big guy said! How about .035? Decimal point off just a few places?
Exactly what I thought! The sky is falling right it fell already. The company is dead they just didn't fall over yet. Kinda like a deer running that's been shot through the heart. He's dead he just don't know it.
You mean enjoy the train wreck to sub-penny?
Well what the hell does that even mean? Piper owns, shares so do I and many others. I'll ride it to zero and be done. So will Brad and the gang. Did his wife sell her 20 million shares at 6+?
I'll change it to .10 by Friday. Wonder how all those who were accumulating in the .25's .30's feel now. Another 50% loss. They'll need 100% gain to get back to even on those.
All these guys were buying huge at .30 saying how great it was now it can't hold .20. Another week we should be at .15 or less.
So where are all the form 4's being filed if it's going to be so great management should be buying hand over fist. But they aren't.
And that speaks volumes of where this is headed. Who better to know what's going on than management themselves?
It's going to be in the 10q. The financials will be horrible. How this scam ever got above $1.00 is beyond me? Help from the crooks from HB who pumped this turd up to $6.91! There is a slight chance they might have something good to report. But their track record of that well it's zero.
They haven't been able to monetize anything except stem cells. And they blew that too.
Notice the buyers flocking to this company? Yeah me neither.
It could shoot up to .40? Depending on how good and what it is.
Don't worry you can pick it up soon enough in single digits.