What I do know is that Pharmasphere was a spin off of Terrasphere, who's a subsidiary of Converted Organics. In fact, I had planned to invest in Terrasphere had it been spun off from COIND. For some reason though, the inventor of Terrasphere (and thus Pharmasphere), Nick Brusatore, resigned from COIND over irreconciliable differences (not surprised to hear that, COIND is really destroying the value of Terrasphere which is a great company in its own right).
Trying to figure out if Nick resigned because COIND failed to live up to their claim that they were going to spin off Terrasphere. I think they refused because it's the only real profitable subsidiary they have. I knew MJNA had been making plans to acquire Pharmasphere and was absolutely thrilled about that for it's the crucial link to the biotech sector.
In fact, it was learning about MJNA's proposal to acquire Pharmasphere that made me invest in MJNA.
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