Do any of you know Inergetics debt restructuring conversion prices were set at in 2011?
The secured debt holders and unsecured debt holders converted their debt owed them into common shares at the following prices. $.20 , $.29 and $.37 depending on status of debt as well as injecting new funds into the restructuring plan. The company has conveyed 96% of secured debt and 87 % of unsecured debt under the plan. At the time of restructuring the Company had total revenue for the year under $100,000 and only 1 product line which was SURGEX which could only be bought on-line through their web site.
Mark Mirken was CEO at the time and he resigned in 2012 to be replaced by Michael James who presently is CEO and CFO of the Company. Since Michael James took control the product lines has expanded to Surgex, Slim Trim, Bikini Ready, Martha Stewart Essentials, a joint venture with TRTC to make Medical Marijuana products, and a private label product for Podiatree. Insergetics products are in over 10,000 retail stores since he took control as well as being offered in many online stores as well.
Todays share prices do not reflect (in my opinion) the wonderful job Mr James has done since he took control of the Company. The future never looked brighter.
Mr James also received over $5,500,000 awarded from the New Jersey NJEDA tax certificate sale program which is non dilutive money, free and clear less fees to build the Company.
In conclusion , todays $.135 closing price is far and away not reflective of what has been accomplished by Mr James over his tenure so far as CEO of the Company.
