How does this fit into the recent development? The announcement, Aug 8th, states the company will file S-1 and move forward as a private company, until the new corporation is approved by FINRA
Bionic Products, Inc. (Pink Sheets:BNPD) announces its change of direction with the management and direction of the public company. A Bio Nutraceutical company has shown extreme interest in working with Bionic Products to move into an algae based product line from healthy drinks to biodiesel fuel. Management foresees this to be an exciting change in direction for the company and its shareholders.
Mr. J.D. Pulver, Sr. Managing Director of Bionic Products, has been concentrating on innovative designs, cutting-edge products and packaging to extend to the markets that are demanding Bionic's healthy energy drinks ("functional beverages") as well as the futuristic energy booster shots and stick-packs/pouches. Company management has spent numerous hours revising the business plan, executive summary and marketing plan roll-out. The team has prepared financial data, break-even analysis, P&L's , etc. and have secured a new S-1 corporation to replace the present company with a new public vehicle that will be a "fully reporting" entity expected to have a place on the Bulletin Board with "institutional interests" to complete the task. All required documentation with be filed with the appropriate agencies. The ninety-day process has been started and the company will resume normal business practices and policies as a private company until the new corporation has been approved by FINRA. The "controlling interest" has been conveyed and management will be replaced with a new Board of Directors and full management team
, soon to be announced. No cash has been conveyed to take over control of the company.
