FitLife Brands Inc (FTLF)

[Hegotgame]

Bond Labs to Simplify Capital Structure
All outstanding preferred stock
redeemed or converted into common stock


OMAHA, Neb., Sep 10, 2013 (BUSINESS WIRE) -- Bond Laboratories, Inc.
(OTCBB:BNLB) ("Bond Labs"),
an international provider of innovative and proprietary nutritional supplements
for health conscious consumers, today announced a recapitalization designed to
simplify its capital structure and significantly reduce its cost of capital.

The transactions described below, will eliminate approximately $3.3 million of
liquidation preference from existing preferred stock and will lower the
Company's total borrowing costs by almost $200,000
per year. Assuming a thirty-five percent corporate tax rate, net borrowing costs
will decline more than threefold from approximately 8.0% to 2.3%.

Critical elements of the transaction include the following:

-- Convert half of the issued and outstanding shares of the
Company's Series C Convertible Preferred Stock and
accrued dividends at $0.25 per share;

-- Redeem half of the issued and outstanding shares of the
Company's Series C Convertible Preferred Stock at par
plus accrued dividends;

-- Redeem issued and outstanding shares of the
Company's 10% Cumulative Perpetual Series B Preferred
Stock at par plus accrued dividends;

-- In connection with the Series C Conversion at $0.25 per share, the Company
has agreed to exchange/cancel 2,500,000 warrants for 625,000 common shares,
thereby reducing the Company's diluted share count by
1,875,000 shares;

-- Complete a reverse stock split at a ratio of 10 for 1, as approved by
shareholders at the recent annual meeting; and

-- Change the corporate name to FitLife Brands, Inc.

Upon the closing of the transactions outlined above, the Company will have
approximately 8.1 million shares of common stock outstanding and 8.6 million
shares of common stock outstanding on a fully-diluted basis and no preferred
shares.

In connection with the recapitalization, the Company secured a $2.6 million term
loan from its existing bank. The new term loan bears interest at a rate of 3.6%
per annum, has no prepayment penalty and amortizes evenly over 5 years. The
Company's existing credit facility shall remain in
place. The recapitalization and name change are expected to close on or before
September 30, subject to final documentation and regulatory approvals.

John Wilson, Chief Executive Officer of Bond Laboratories, Inc., stated,
"We believe the recapitalization will be immediately
accretive to our common shareholders through the simplification of our capital
structure and significantly reduced capital costs. Our name change to FitLife
Brands comes at an exciting time for the company, as the anticipated growth in
our business combined with the recapitalization helps position the company to
deliver record results in 2013."

About Bond Labs Bond Laboratories is a manufacturer of innovative and
proprietary nutritional supplements for health conscious consumers. The Company
produces and markets products through its NDS Nutrition division.
NDS' products number over 60 brands of energy,
sports, and dietary supplements. These products are sold directly through
specialty health and nutrition retailers, and are included among the top-selling
products at GNC(R) franchises. Bond Labs is headquartered in
Omaha, Nebraska. For more information, please visit http://www.bond-labs.com.

Safe Harbor Statements about the Company's future
expectations and all other statements in this press release other than
historical facts, are "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and
as that term is defined in the Private Securities Litigation Reform Act of 1995.
The Company intends that such forward-looking statements be subject to the safe
harbors created thereby. The above information contains information relating to
the Company that is based on the beliefs of the Company and/or its management as
well as assumptions made by and information currently available to the Company
or its management. The company does not undertake any responsibility to update
the forward-looking statements contained in this release.


http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130910006548r1&sid=cmtx6&distro=nx

SOURCE: Bond Laboratories, Inc.



CONTACT:
For Bond Laboratories:
Surety Financial Group, LLC
Bruce Weinstein, 410-833-0078




Copyright Business Wire 2013

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KEYWORD: United States

North America

California

Nebraska

INDUSTRY KEYWORD: Other Sports

Health

Fitness & Nutrition

Manufacturing

Other Manufacturing

Retail

Food/Beverage

Other Science

Specialty

Other Retail

Sports

Science

SUBJECT CODE: Dividend

Earnings

Product/Service

Stock Sale/Buyback

Stock Split