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I was reading the College contract again coul dhe huge! 35,000 lamps is just the initial installment .I would like to know how many more lamps.The School has 100 buildings that is a lot!
Wayne State University Selects Energy Focus to Provide LED Lighting Upgrade
Energy Focus, Inc. July 14, 2014 9:00 AM GlobeNewswire
SOLON, Ohio, July 14, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (EFOI), a leader in LED lighting technologies, today announced Wayne State University, a nationally recognized metropolitan research institution with 29,000 students and 100 buildings comprising over one million square feet, has selected Energy Focus' tubular LED lighting products to replace its existing T12 fluorescent lighting.
"We are proud to be the first university in Michigan to replace our existing fluorescent lighting with tubular LED lamps," said Larry Fodor, Director of Utilities & Energy Management at Wayne State University. "Energy conservation and sustainability are very important initiatives to Wayne State. As educators of future leaders, we believe it's essential to set a good stewardship example to our students by conserving global resources. The LED lamps we purchase from Energy Focus will reduce our lighting energy consumption by 60 percent while improving both the quality and reliability of the light."
"We are very pleased that Wayne State University has selected our LED lamps to retrofit their existing fixtures," said James Tu, Executive Chairman and Chief Executive Officer of Energy Focus, Inc. "The lamps we are providing to Wayne State offer the industry's highest standard of LED technology and are the result of more than 10 years' experience developing and producing tubular LED lamps for military and commercial applications. This initial Wayne State University installation represents 35,000 lamps and covers certain key facilities with long daily burn hours. We look forward to supporting Wayne State throughout this LED lighting initiative and will continue to provide state-of-the-art technologies and design assistance."
"Instead of supplanting existing fluorescent troffers with high cost LED fixtures that will be obsolete in 5 to 10 years, Energy Focus tubular LED lamps provide a higher quality, more sustainable and far more economical alternative. Wayne State's maintenance staff can perform the simple lighting upgrade and the university can obtain more attractive payback and in the meantime keep many thousands of pounds of fixture waste from entering landfills. We very much expect other universities to follow Wayne State's sustainability lead and we're actively pursuing opportunities among the nation's 4,000 institutions of higher learning across the country," concluded Mr. Tu.
I understand where your coming from.
Listen in at 5 EST live about earnings and future from the Man at the top! This has only made it easier for me to pick up some shares after clearing several k
Well earnings are next week,so we should draw more listeners then in past!
Good find Renee.I knew they were going to Nasdaq nice to see it on that site.
Ask was at 4.50 hard to tell what will happen right after it hits NASDAQ. I am glad they are back they wanted to get on it real bad so they must know what is in the pipeline! With this tiny float we could get some swings.I believe like others when it finds it's bottom there should be some very nice up side coming!
News out, Earnings CC on August 13th
Inc. Invites You to Participate in Its Second Quarter 2014 Earnings Conference Call and Webcast
GlobeNewswire
Energy Focus, Inc. 42 minutes ago
SOLON, Ohio, Aug. 6, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (EFOID), a leader in LED lighting technologies, will host a conference call on August 13, 2014, at 4:30 p.m. ET (1:30 p.m. PT) to review the second quarter 2014 financial results and other corporate events, followed by a Q & A session. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins.
Date: August 13, 2014
Time: 4:30 PM ET
Listen via Internet: http://investors.energyfocusinc.com/
Schedule this webcast into MS-Outlook calendar (click open when prompted):
http://apps.shareholder.com/PNWOutlook/t.aspx?m=65815&
Energy Focus will be back on Nasdaq on AUG 7th news out!
Price offering 4.50 per share! This is great news!
We are near 52 week lows.
I think the company has tried to grow to fast.Now it looks like there will be a cash issue.
Energy focused presented at a meeting July 30th in Minn
8:45 - 9:45 am
Emerging Technologies/Strategies for ESPC Projects
Innovative strategies and technologies are pushing the envelope of what is possible in the way of energy retrofits. Through a number of new technologies, products, services and initiatives, we have the capability to push building performance to new heights and possibilities.
Moderator: George West, President, H2O Applied Technologies
Dan Nordloh, EVP – Global Business Development, ZBB Energy Corporation?
John Davenport, Board of Directors, Energy Focus, Inc.
Oliver Davis, CEO/co-founder concept3d – simuwatt
Are you talking about August 7th ?
If you find out please let us know! Right this minute I am ok with my position ,but if there is a pull back and because of the 2.5 Mill shares ,there is a very good chance I will add shares.
News out they hope to have product out in 2015.
nergetics Completes Phase I Development of its Therapeutic CBD Line of Products
The New York Times calls for the national legalization of cannabis accelerating validation of CBD
PR Newswire
Inergetics, Inc. 22 minutes ago
NEWARK, N.J., July 29, 2014 /PRNewswire/ -- Inergetics, Inc. (NRTI), a leading developer of nutritional supplements, today announced the successful completion of its first phase towards the formulation of its proprietary line of natural cannabidiol CBD-based nutritional supplements it is developing in partnership with Terra Tech Corp (TRTC). Research shows that cannabinoids have medical application for a range of conditions as varied as epilepsy, glaucoma, osteoporosis, anorexia, Alzheimer's disease and pain treatment.
Following the recent success of the CBD Medical Advisory Board meeting led by Inergetics' Chief Science Officer, Carl Germano, RD, CNS, CDN, Inergetics has successfully procured targeted cannabinoids from industrial hemp, cannabis and other unique dietary sources.
"This is a critical milestone for us in our quest to enter the marketplace as the gold standard of cannabinoid supplements," says Germano. "Innovation in cannabinoid extraction from food sources other than cannabis and hemp as well as leading technology to enhance bioavailability was our number one goal in this important phase of the initiative and we achieved it."
"Our considerable momentum completing Phase I of our CBD product development is timely with growing validation in the marketplace as a major national news organization like The New York Times takes a position as it did this Sunday, July 27th in its editorial section calling for the national legalization of cannabis," said Inergetics CEO Mike James. "In addition, it is important to note that the medical applications of cannabis and CBD are varied with the greatest opportunity in the broader consumer marketplace. Our progress is significant and puts Inergetics on the leading edge of this business."
Inergetics' CBD-based supplements are expected to be distributed via medicinal marijuana dispensaries in 2015.
Continued updates on the CBD product initiative and the Scientific/Medical Advisory Board will be made available at http://www.inergetics.com/cbd-initiative/.
Inergetics Media Contact
RLM Finsbury
(646) 805-2025
Inergetics@rlmfinsbury.com
Terra Tech Media Contact
They are putting up over 2 Million shares for sale! I wonder what there plans are possible expansion? From there investor area of there website.
Securities Offered
Common Stock Offered by Us
2,500,000 shares.
Overallotment Option
We have granted the underwriters an option to purchase up to 375,000 additional shares of our common stock to cover overallotments, if any, exercisable, in whole or in part, for a period of 30 days from the date of this prospectus.
Description of Warrants
The warrants issued to the underwriters will have a per share exercise price of $ (120% of the public offering price of common stock sold in the offering). The warrants are exercisable immediately and will expire five years from the date of issuance. See “Underwriting.”
Common Stock Outstanding After This Offering
Approximately 10,524,961 shares (approximately 10,899,961 shares if the overallotment option is exercised in full).
Use of Proceeds
We estimate that the net proceeds from this offering, after deducting the underwriting discount and estimated offering expenses payable by us, will be approximately $11,095,658 based on an assumed public offering price of $4.90 per share (the last reported sale price of the common stock on July 21, 2014) or $12,813,721 if the underwriters exercise the overallotment option in full. We intend to use the proceeds of this offering to finance certain capital expenditures and for working capital and other general corporate purposes, which may include, but are not limited to, the purchase of manufacturing equipment and the purchase and implementation of a new enterprise resource planning system, expansion of our sales office presence, retirement of debt and inventory purchases. See “Use of Proceeds.”
Risk Factors
See “Risk Factors” beginning on page 8 for a discussion of risks you should consider before purchasing shares of our common stock.
Market Symbol and Listing
Our common stock is quoted on the OTCQB under the symbol “EFOI.” Our common stock has been approved for listing on The NASDAQ Capital Market under the same symbol concurrently with the closing of this offering.
The number of shares outstanding after this offering is based on shares outstanding as of July 16, 2014, which reflects a one-for-ten reverse stock split effected July 16, 2014 at 5pm EDT. This number does not include:
?
outstanding options to purchase approximately 439,341 shares of our common stock, of which options to purchase approximately 207,629 shares were exercisable as of July 16, 2014,
?
outstanding restricted share units for 1,220 shares of our common stock, none of which have vested,
?
995,049 shares of our common stock issuable upon the exercise of certain outstanding warrants (other than the warrants issued to the underwriters), of which warrants to purchase 895,049 shares were exercisable as of July 16, 2014,
?
100,000 shares of common stock issuable upon exercise of the warrants issued to the underwriters, and
?
1,067,285 shares of our common stock issuable pursuant to future awards under our equity incentive and employee stock purchase plans.
Our Board of Directors and our stockholders have approved the Energy Focus, Inc. 2014 Stock Incentive Plan (“2014 Plan”) under which 600,000 shares were authorized and 580,000 shares remain available for equity award grants. No further awards will be made under the prior plans and the unissued remaining shares under such plans are not available for future awards under the 2014 Plan or any other plan.
No problem,I hate the charge on the R/S I also got it.I am not a fan of R/S It seems they feel it is time to get the price up now and make the move toward the Nasdaq. It sounds like they have a pipe line ,board in place now time to make it happen!
James has said "NO" one can compete with there quality and price.GE has a large over head.They want to become more lean!
Take it back,GE is looking to sell lighting division found this!
GE’s results clearly indicate the shifting focus of the company from its finance wing to its industrial business. In line with CEO Jeff Immelt's strategy, GE Capital continued to shrink. Excluding cash and cash equivalents, the ENI stood at $371 billion, down 5% compared to the previous year. The company plans to spin off its North American Retail Finance business and then make it’s a separate publicly traded entity. The entire process is targeted to get over by the end of July this year. GE intends to part with 15% of the unit and thus raise $3.1 billion in the process.
The company is also said to be in talks with multiple parties to sell off its Appliacnes & Lighting division. During 2013, the segment had contributed only 6% to the total segment revenues and less than 2% to the segment profits. Like I already mentioned, Jeff wants GE to become lean and agile and in order for that to happen, he is ready to do away with any division that doesn’t contribute massively and isn’t considered a core component.
So, a lot of restructuring is going on at GE. The deal with Alstom got acceptance from both Alstom board and the French government during the quarter, and according to sources familiar with the matter, all activities related to the transition are on track and should be completed by 2015. GE expects the synergies will add another $0.06 to $0.09 to GE’s EPS.
I have not had a stock with around 3.5 mill float does not get much lower then that.I agree on the Nasdaq I would think at least of Month if I had to bet on it!
I hope they pull some PRs out of the bag when they get on Nasdaq.Sounds like good people they brought on board.This stock is not going to get much notice until then ,unless a block buster pr comes out before they move to another exchange! I have thought about buying more ,it is hard to say.They now have 7 advisers on board sounds like a lot for small company .
I herd it first on another board. I read more PR from GE and now I am not sure if lighting is part of it or not,so I migh thave to take that back.I found this. I know the lighting and Appliance business is tied together.
m Bloomberg.com: Hungry U.S. Power Plant Turns to Russia for Coal Shipment
The company was waiting to firm up its acquisition of Alstom SA (ALO)'s energy assets before pursuing options including an outright sale of the appliances business, said one of the people, who asked not to be identified because the process is private. With the Alstom deal now signed, GE is talking to bidders for the white goods unit, the people said.
GE Appliances and Lighting includes refrigerators and stoves that trace their roots to the early twentieth century, electric clothes washers that GE introduced in 1930 and light bulbs, first invented by co-founder Thomas Edison. The unit generated more than $8 billion in sales last year, or 5.6 percent of the company's total revenue. It may fetch $1.5 billion to $2.5 billion in a sale, the people said.
Good luck out of town! I hope we some nice action.They are trying to get on the NASDAQ might take a while.Hope they load up some PR to keep the interest up!
EFOI is now EFOID as of today.I believe later will change back!
I thought the R/S was going to happen today!
GE getting out of lighting business might be good news here!
today news 10 to 1 R/S hope James has the goods to get this above 5.00 a share!
This is from a share holder whom went to the meeting today.Looks like some positives here!
Just got back…I really do not know where to start. First up Joe ,the USS GERALD FORD designs are set in stone no matter how antiquated that may be , so EFOI is not suppling that particular project. however it does get added to the retrofit list. Secondly the recent announcements PR greatly understate the potential revenue ,the real-estate management company manages 4000 buildings with millions of tubes . The PR on Wayne university was to highlight the first university to embark on LED retrofit and bring notice to entering the market. James made a point of saying EFOI will not give PR on contracts won, but let the results speak for themselves. That said he showed a slide of current customers including many hospitals including the Cleveland Clinic,6 of the top 16 ESCO providers including Johnson Controls. One of the most interesting comments by James Tu was that the military portion of EFOI can sustain the companies profitability almost alone.. leaving the company able to aggressively pursue other markets. Less
A while back I would say Zynga would not sell out! I am thinking to survive in this environment companies will need to merge .I am not sure if it will be Google but I believe it will happen.I hope for at least 5 dollars a share!
Far as lamp goes they cost around 10 dollars a lamp I believe.Also that 35,000 was just a beginning of the project if I read it correctly .I am disappointed there is no news today on meeting!! I had hoped would be able to listen in.Looks like only for ones that attend. If I hear any thing on it will try to post!
35,000 lamps 100 buildings new contract!
Wayne State University Selects Energy Focus to Provide LED Lighting Upgrade
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Alert
Energy Focus, Inc. (QB) (USOTC:EFOI)
Intraday Stock Chart
Today : Monday 14 July 2014
Click Here for more Energy Focus, Inc. (QB) Charts.
Energy Focus, Inc. (OTCQB:EFOI), a leader in LED lighting technologies, today announced Wayne State University, a nationally recognized metropolitan research institution with 29,000 students and 100 buildings comprising over one million square feet, has selected Energy Focus' tubular LED lighting products to replace its existing T12 fluorescent lighting.
"We are proud to be the first university in Michigan to replace our existing fluorescent lighting with tubular LED lamps," said Larry Fodor, Director of Utilities & Energy Management at Wayne State University. "Energy conservation and sustainability are very important initiatives to Wayne State. As educators of future leaders, we believe it's essential to set a good stewardship example to our students by conserving global resources. The LED lamps we purchase from Energy Focus will reduce our lighting energy consumption by 60 percent while improving both the quality and reliability of the light."
"We are very pleased that Wayne State University has selected our LED lamps to retrofit their existing fixtures," said James Tu, Executive Chairman and Chief Executive Officer of Energy Focus, Inc. "The lamps we are providing to Wayne State offer the industry's highest standard of LED technology and are the result of more than 10 years' experience developing and producing tubular LED lamps for military and commercial applications. This initial Wayne State University installation represents 35,000 lamps and covers certain key facilities with long daily burn hours. We look forward to supporting Wayne State throughout this LED lighting initiative and will continue to provide state-of-the-art technologies and design assistance."
"Instead of supplanting existing fluorescent troffers with high cost LED fixtures that will be obsolete in 5 to 10 years, Energy Focus tubular LED lamps provide a higher quality, more sustainable and far more economical alternative. Wayne State's maintenance staff can perform the simple lighting upgrade and the university can obtain more attractive payback and in the meantime keep many thousands of pounds of fixture waste from entering landfills. We very much expect other universities to follow Wayne State's sustainability lead and we're actively pursuing opportunities among the nation's 4,000 institutions of higher learning across the country," concluded Mr. Tu.
About Wayne State University
Founded in 1868, Wayne State University is a nationally recognized metropolitan research institution offering more than 370 academic programs through 13 schools and colleges to nearly 29,000 students. Wayne State's main campus in Midtown Detroit, MI comprises 100 buildings over 200 acres; its six extension centers offer higher education to students throughout Southeast Michigan.
Wayne State is dedicated to preparing students to excel by combining the academic excellence of a major research university with the practical experience of an institution that by its history, location and diversity represents a microcosm of the world we live in.
Hard to say why it went down.I did thunk it was nice news but not huge news.I know contract news will open more eyes then potential contracts.
yes,it talked about several of there products.
Energy Focus Selected as a Preferred LED Lighting Vendor by Leading Global Real Estate Services Company
GlobeNewswire
Energy Focus, Inc. 3 hours ago
SOLON, Ohio, June 30, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (EFOI), a leader in LED lighting technologies, today announced that the world's largest privately held real estate services company will start offering Energy Focus' LED lighting products to its properties through its preferred vendor program.
The preferred vendor program includes approximately 80 global preferred suppliers qualified through the real estate services company's rigorous due diligence process for product quality and company credentials. The program will encourage and promote the use of Energy Focus' tubular LED lighting products for retrofitting existing fluorescent fixtures, which can reduce lighting electricity costs of commercial buildings by 50% to 75%. The program also covers Energy Focus' other commercial and industrial LED lighting products, including parking luminaries, suspended linear direct/indirect fixtures, high-bay fixtures, outdoor wall packs, landscape lights, heavy duty dock lights, industrial strip lights and vapor strips.
"We are extremely pleased and excited to have been selected as a preferred LED retrofit lighting provider for this leading global property manager with over 4,000 managed properties that span approximately 500 million square feet in the U.S. alone," said James Tu, Executive Chairman and Chief Executive Officer. "This partnership not only opens a new and sizable market channel for Energy Focus, but also allows us to offer high quality LED lighting products and solutions at the lowest possible cost through our direct sales and service organization."
Energy Focus' extensive history as an LED technology development partner of the U.S. Government, as well as leading Energy Service Companies, has enabled it to provide both advanced and economical LED lighting products to the military, federal, state and municipal entities. "We now look forward to leveraging our leading LED lighting retrofit capabilities to expedite LED lighting adoption and help our clients significantly enhance buildings' energy efficiency in the commercial and industrial markets," concluded Mr. Tu.
Forward Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, these statem
I own NRTI, I have to say TRTC is on fire again.TRTC and NRTI will hook up at meeting i believe June 4th,
TRTC has been on fire! I picked up more shares here last week at .101 maybe something will come out of meeting.
Well stock price is hanging here.We were down more earlier!
Earnings out!
4 All Recent SEC Filings
Show all filings for INERGETICS INC | Request a Trial to NEW EDGAR Online Pro
Form 10-Q for INERGETICS INC
15-May-2014
Quarterly Report
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Cautionary Statement Pursuant To "Safe Harbor" Provisions
Of Section 21e Of The Securities Exchange Act Of 1934
Except for historical information, the Company's reports to the Securities and Exchange Commission on Form 10-K and Form 10-Q and periodic press releases, as well as other public documents and statements, contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements. These risks and uncertainties include general economic and business conditions, development and market acceptance of the Company's products, current dependence on the willingness of investors to continue to fund operations of the Company and other risks and uncertainties identified in the risk factors discussed below and in the Company's other reports to the Securities and Exchange Commission, periodic press releases, or other public documents or statements.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events.
Results of Operations for the quarter ended March 31, 2014 compared to the quarter ended March 31, 2013:
Total revenues generated from the sales of Surgex?, Bikini Ready?, SlimTrim? and Martha Stewart Essentials? for the quarter ended March 31, 2014 totaled $479,802 an increase of 6,982% from the quarter ended March 31, 2012 which totaled $6,775. The primary reason for the increase was due to the Company's introduction of Martha Stewart Essentials and the newly formulated Surgex brand along with the introduction of Bikini Ready and SlimTrim to the retailers during the quarter ended March 31, 2014. The introduction of these brands continues to show growth into the second quarter of 2014.
At this stage in the Company's development, revenues are not yet sufficient to cover ongoing operating expenses.
Gross profit for the quarter ended March 31, 2014 amounted to $117,119 for a 24% gross margin. Gross profit increased $115,194 or 5745% for the quarter ended March 31, 2014 compared to $2,005 for the quarter ended March 31, 2013. The increase in gross profit is a result of higher sales in the quarter ended March 31, 2014.
After research and development cost and selling, general and administrative expenses of $3,145,128, the Company realized an operating loss of $3,027,929 for the quarter ended March 31, 2014. Operating losses of $3,027,929 increased $1,753,232 or 126% as compared to the first quarter of 2013 operating loss of $1,389,891. The majority of the increase was due to the increase in promotion and royalty for the launch of the various products into the retail in the amount of $890,292. Additional employees were hired to support the infrastructure of the business in addition to stock awards in the amount of $980,652. There was an reduction in other professional fees in the amount of $235,404.
Non-operating expenses totaled $1,499,132 for the quarter ended March 31, 2014 an increase of 694% or $1,310,271 as compared to $188,861 for the quarter ended March 31, 2013. The increase in non-operating expenses of $1,310,271 was due to the accretion of debt discount in the amount of $133,353 and a increase in loss associated with the fair value of the derivative instruments issued with the convertible debt in the amount of $943,000. There was an increase in interest expense of $286,563 due to more debt outstanding.
The net result for the quarter ended March 31, 2014 was a loss of $4,785,499 or $0.07 per share which included a preferred dividend on the Series G stock in the amount of $258,438, compared to a loss of $2,024,151 or $0.04 per share for the first quarter of 2013. The net loss for the first quarter of 2014 increased by $2,761,348 or 136% as compared to the first quarter of 2013, primarily due to an increase in selling, general and administrative expenses and accretion of debt discount, increase loss of derivatives and increased interest expense due to additional debt outstanding. Management will continue to make an effort to lower operating expenses and increase revenue. The Company will continue to invest in further expanding its operations and a comprehensive marketing campaign with the goal of accelerating the education of potential clients and promoting the name and products of the Company. Given the fact that most of the operating expenses are fixed or have quasi-fixed character management expects them to significantly decrease as a percentage of revenues as revenues increase.
Disclosure About Off-Balance Sheet Arrangements
We do not have any transactions, agreements or other contractual arrangements that constitute off-balance sheet arrangements.
Critical Accounting Estimates
Our Management's Discussion and Analysis of Financial Condition and Results of Operations section discusses our consolidated condensed financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources. These accounting policies are described at relevant sections in this discussion and analysis and in the notes to the consolidated financial statements included in this report.
Liquidity and Capital Resources
The Company's future success is dependent upon its ability to achieve profitable operations and generate cash from operating activities, and upon additional financing. Management believes they can raise the appropriate funds needed to support their business plan and develop an operating, cash flow positive company. The Company has been operating with negative cash flows for the past 12 years.
The Company incurred substantial net losses for the three months ended March 31, 2014 and the year ended December 31, 2014 and has accumulated a deficit of $89,264,063 at March 31, 2014. The Company has not been able to generate sufficient cash from operating activities to fund its ongoing operations. There is no guarantee that the Company will be able to generate enough revenue and/or raise capital to support its operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company has never reported Net Income.
The condensed consolidated financial statements do not include any adjustments relating to the recoverability or classification of recorded assets and liabilities that might result should the Company be unable to continue as a going concern.
The Company's business operations generally have been financed by debt investments through promissory notes with accredited investors. During the three months of 2014, the Company obtained new debt from the issuance of promissory notes that supplied the funds that were needed to finance operations during the reporting period. The new issuance of debt requires conversion of existing debt which may not be able to convert on favorable terms. Such new borrowings resulted in the receipt by the Company of $300,000. While these funds sufficed to compensate for the negative cash flow from operations they were not sufficient to build up a liquidity reserve. As a result, the Company's financial position at the end of the reporting period showed a working capital deficit of $9,424,997. During the first three months of 2014 the Company obtained new financing sufficient to fund ongoing working capital requirements. We need to continue to raise funds to cover working capital requirements until we are able to raise revenues to a point of positive cash flow.
The Company entered into a license agreement with minimum royalty payments totaling $1,800,000, $2,100,000, $2,700,000, $3,200,000 and $3,800,000 for each of the years ended 2014, 2015, 2016, 2017 and 2018, respectively. $900,000 was paid as of March 31, 2014. Total royalaties due through March 31, 2014 of $900,000 are to be paid quarterly on the first day of the quarter commencing April 1, 2014.
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News Out!
OmEssentials®, A Scientifically Advanced Line Of Supplements That Increase Overall Mind and Body Wellness
Strategic Purchase Allows for Expansion into New Markets and Continued Diversification of Nutritional Supplement Offerings
PR Newswire
Inergetics, Inc. 3 minutes ago
NEWARK, N.J., April 23, 2014 /PRNewswire/ -- Inergetics, Inc. (NRTI), a leading developer of nutritional supplements, today announced it has entered into a letter of intent to purchase the assets of OmEssentials®, a private company dedicated to the development of advanced nutritional formulations and progressive nutrition education supporting the yoga, wellness and health food industries.
The purchase will allow Inergetics to continue its expansion into new market segments, specifically the fast-growing yoga, specialty and health food classes of trade. The OmEssentials product line includes premium vegan and vegetarian formulas to promote general health and wellness as well as scientifically advanced products to provide support and address issues for those who enjoy the active lifestyle.
OmEssentials supplements were developed by Inergetics' own Chief Science Officer, Carl Germano, RD, CNS, CDN, and combine high quality plant, nutraceutical and whole food based ingredients. "The entire OmEssentials line is based on my 30 years in clinical practice as a Board Certified Clinical Nutritionist where I successfully utilized these ingredients in the nutritional treatment of numerous conditions. In addition, as a Registered Yoga Teacher, the formulations address the specific needs for those engaged in wellness and healthy yogic lifestyles," states Mr. Germano, the Founder of OmEssentials.
"OmEssentials is dedicated to developing pure and natural health supplements through careful formulation based on quality research and development," said Inergetics CEO Mike James. "This philosophy is a synergetic fit with the Inergetics family of products designed to help people improve their quality of life by the safest, most natural means possible. We look forward to bringing this enhanced range of effective, natural nutritional supplements to a broader consumer market."
The OmEssentials line of products includes eight condition specific nutritional products and is the latest addition to Inergetics' extensive offering of innovative nutritional supplements, which currently includes Martha Stewart™ Essentials, Surgex® Sports Nutrition, Bikini Ready® and SlimTrim™. OmEssentials products are offered online and at various health food stores and wellness centers nationwide.
About Inergetics, Inc.
Inergetics' portfolio of brands includes: Martha Stewart™ Essentials, a complete line of whole-food based supplements created specifically for women; Surgex® Sports Nutrition, the preferred nutritional supplement of Army Sports; Bikini Ready®, a leader in weight loss lifestyle solutions; SlimTrim™, the affordable, premium value diet brand; and OmEssentials®, a line of scientifically advanced nutritional supplements designed to further the health and wellness of yoga practitioners and active individuals.
To learn more about Inergetics, visit www.inergetics.com, and the Inergetics brands' websites at: www.marthastewartessentials.com, www.surgexsports.com, www.surgexsportsblitz.com, www.slimtrim1.com, www.slimtrim.net, www.bikinireadylifestyle.com, www.kahunasands.com, www.omessentials.com.
About OmEssentials®
OmEssentials is a unique line of scientifically advanced nutritional supplements designed to further the health and wellness of active individuals and those practicing a healthy yogic lifestyle. Each of our formulas contain comprehensive blends of plant and nutraceutical based ingredients that have been precisely chosen to address the multiple pathways needed to manage specific health conditions, address injuries and maintain general well-being. Developed by Carl Germano, RD, CNS, CDN, a board certified clinical nutritionist, the OmEssentials line is based on his 30-plus years of expertise utilizing nutritional therapies in private practice as well as developing cutting edge nutritional formulas for many major dietary supplement companies. OmEssentials products are offered online and at various yoga studios and wellness centers nationwide. To learn more about OmEssentials, visit omessentials.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of Inergetics set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts," or similar expressions, are "forward-looking statements." Although Inergetics' management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause Inergetics' future results to differ materially from those anticipated. Inergetics assumes no obligation to update any of the information contained or referenced in this press release.
Media Contact
RLM Finsbury
(646) 805-2025
Inergetics@rlmfinsbury.com
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I believe if we hold no lower then .20 we will be looking good .Then next earnings we should bring in more investers.
Here is what James said about there Market!
Notice talk about over seas market!This is from to days PR
Looking ahead
"Inergetics is well-positioned to continue to execute against our growth strategy by increasing distribution and sell-through of our existing products while bringing innovative new nutraceutical formulations to current and emerging markets," Mr. James added.