Inergetics' Quarter Shows Strong Progress by New Management
2012-11-28 20:05:32 -
By A.J. Deniken, Contributor
Inergetics, Inc. (OTCBB: NRTI) recently released their quarterly report for the
quarter ended September 31, 2012. This is the first time in several quarters
that the quarterly report was completed and filed early, even in the midst of
Super Storm Sandy.
This may further evidence that NRTI's new management is focused and performing
upon their promise to run the business efficiently and effectively. The release
included some previously unannounced positive events that occurred in the
quarter.
The first disclosure that should be noted is that an entity controlled by
Michael C. James, CEO of Inergetics made an investment in the company for
$114,000 in the form of an unsecured promissory note which included an
origination fee of 570 shares of Series G preferred Stock which converts into
142,500 shares of common stock. This is a very important development showing
Mr. James' commitment to the Company while only occupying the CEO position for
four months. This suggests Mr. James has confidence in the execution of the
business plan he is implementing, and he is on schedule to produce the results
he expects in the first quarter, of which is has previously spoken.
Since Mr. James has taken the CEO position, he has acquired over $500,000 in new
funding for the company to ensure that the operating cost of the company are
covered. More importantly for shareholders of the Company, on October 2, 2012
Inergetics paid off, in full, both debentures owed to Asher Enterprises, Inc.
totaling $186,960. These Asher debentures contained potentially toxic covenants
that could have super-diluted the Company's stock wiping out most of the equity
value for current shareholders.
These financial events depict a management team that is fulfilling their promise
to revamp this Company into a revenue generating, valuable investment for the
shareholders. While we now have the evidence that management is performing on
the financial side, we should see the product side of the business to begin to
show tangible improvement soon. In a Q&A video interview posted last month, Mr.
James alluded to several business initiatives he expect to begin showing success
in the first half of 2013, including new product lines, the beginning and
completion of the studies on their formulation for dialysis patients, and an
expansion of their sales channels for the scientifically proven Surgex protein
product that is currently available online. This new management team has made
significant progress on all fronts in a short amount of time. It is expected
that the value of the Company will improve quickly as these initiatives begin to
bear fruit over the next couple of quarters.
Disclosure: None
The video interview mentioned in this report is available at:
www.biomedreports.com/20121017109356/qaa-the-bounce-back-of-
inergetics.html
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