New Message from Nick Torrens-
"Hello
I apologize for the delay in getting back to you. Below are 4 bullet points summarizing the latest information that I have regarding Inergetics as of my conversation with Mark Mirken, the CEO of the Company, on Monday, January 24th. This is the full extent of information that I have regarding the Company at this time and I apologize if you have specific inquiries that are not addressed in this email but feel free to call or email me back with any such inquiries and I assure you that I will do my best to address them.
Inergetics is and has been in rigorous, non-stop discussions to raise capital for the firm to the tune of $2 Million, particularly with one of its current senior secured debt holders. Management is optimistic regarding the Company's prospects of raising part or all of these funds in the near future. These funds will be spent to pay the Company's debt obligations as they pertain to daily operations as well as to fund the manufacturing and other costs that would be incurred in order to pursue current business development opportunities.
I cannot go into details as they have not been publicly disclosed, nor have they been disclosed even to me, but the Company does, in addition to its ongoing discussions and potential revenue generating opportunities with various military academies, have another business opportunity which could generate up to $2 Million if it were to close. That being said, this cannot occur without capitalization by the Company which is why it is has been and will continue to spend the majority of its time over the past 2 weeks and moving forward to secure working capital necessary to execute this agreement.
Inergetics has secured shareholder approval a long time ago for an 80 - 1 Reverse Split of its common stock and has filed a motion with FINRA to execute this split. At this point, it is a waiting game that is completely out of the Company's control. Like all of its shareholders, the Company's management is also waiting to hear from FINRA for the approval of the split and an effective date. There has been no indication of a timeframe for this approval by FINRA so I cannot be more specific hear, my apologies. Regarding various inquiries as to further stock dilution following the Reverse Split: the Company is executing this split in order to reduce dilution and bring the number of shares outstanding to a manageable number and will do everything in its power, moving forward to ensure that future financings include no or as little dilution as possible, however due to its cash flow situation, Management cannot make any guarantees to investors, at this point, that there will be zero chance of further dilution following the split, if it sees a financing opportunity that absolutely warrants it, no pun intended, and will be in the best interests of the company and its shareholders as it will allow them to close revenue generating agreements.
Regarding the Men's Health promotion, Inergetics issued a press release in December per the guidance of its PR firm, 5WPR that the online promotion was going to take place during the beginning of January and this has not been the case, however is something that is completely at the discretion of Men's Health, who last communicated that the magazine had a very busy holiday season and is backed up, however the Company, nor its PR Firm, have received any more specific guidance regarding the promotion and when it will take place or it will be rescheduled, cancelled, etc. I will reach out to shareholders as soon as I have any more specific information regarding the promotion.
Thank you for your patience and investment in Inergetics. The Company and its Management Team are grateful and I assure you are working the hardest to secure capital, close business and move forward to increase shareholder value.
Regards,
Nick Torrens
President
Seal Point Consulting, LLC
267-364-5407"
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