Navigation Links
Mach One Completes Note Exchange
Date:1/22/2009

BELGIUM, Wis., Jan. 22 /PRNewswire-FirstCall/ -- Mach One Corporation (Pink Sheets: MNCN), a biological solutions company that develops products that produce a positive long term benefit to the agricultural and consumer market, announced today that it has completed its Subordinated Note Swap of $1.5 million with an Investor.

Mach One issued the Original Note to facilitate the equipment purchase for its first production facility in Wisconsin. The Original Note had an amortization schedule that started after the completion of the equipment purchase. The new board upon review of that part of the capital structure did not see the need to start amortization during the Wisconsin facility startup stage so it proposed exchanging the Original Note for a Zero Coupon Convertible Note similar in structure to the Note issued in the Pacific Rim Foods Ltd. transaction.

Monte B. Tobin, Chairman and Chief Executive Officer of Mach One, said, "We are pleased that our board has taken an active role in assisting the company in matching its capital structure to its business model. We continue to execute on our business plan and are pleased with this recent capital change which when combined with the capital provided by Pacific Rim Foods Ltd, and the recent $500,000 and $1.5 million capital placement will allow Mach One to move forward on execution of its business model."

Tad Ballantyne, Director, said, "We are pleased to have a strategic Investor who recognizes the benefits to both parties of the Note exchange. We look forward to the strategic Investor's participation as a board member along with the addition of another board member from the announced Ceres Organic transaction. Both these anticipated board members have extensive experience in the 'healthy food' sector which is part of our mission of building a global company focusing on the 'health benefits to man and animal.' Execution of both capital formation and board oversight are important components of building a successful public company."

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected. Readers are encouraged to view the Company's risks identified under the caption "Risk Factors" in the S-1 Registration Statement of the Company as Amended filed with the Securities and Exchange Commission on September 18, 2008.


'/>"/>
SOURCE Mach One Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Anthera Completes Enrollment and Dosing of Varespladib Cardiovascular Trial
2. GlaxoSmithKline Successfully Completes Tender Offer for Shares of Genelabs Technologies, Inc.
3. Chimerix Completes Phase I Study and Initiates a Phase II Multi-dose Clinical Trial for CMX001
4. Valeant Pharmaceuticals Completes Acquisition of Dow Pharmaceutical Sciences, Inc.
5. Johnson & Johnson Completes Acquisition of Omrix Biopharmaceuticals, Inc.
6. BioLife Solutions Completes Safety Studies on HypoThermosol(R) and CryoStor(TM)
7. NeoStem Completes $500,000 Private Placement With Strategic Investor
8. Lilly Completes Cash Tender Offer for ImClone Systems
9. China Medical Technologies Completes the Development of EGFR Molecular Diagnostic Kits
10. Accera, Inc. Completes $35 Million Series C Financing
11. OncoMed Pharmaceuticals Completes Series B Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)...  NanoViricides, Inc. (NYSE MKT: NNVC) (the "Company"), a nanomedicine company ... MD, MPH, will present information about the company,s programs at the ... New York City . --> ... at 5:30PM EST. Registered attendees can request a one on one ... . --> New York City . ...
(Date:2/6/2016)... , ... February 06, 2016 , ... ... , The Center for Excellence in Education Sponsors Teacher Training Program , ... February 4, 2016 – The Center for Excellence in Education (CEE) will sponsor ...
(Date:2/5/2016)... , Feb. 5, 2016 Australian-US drug discovery ... announced today the appointment of a new Chairman, Mr ... Carmine , effective immediately. James Garner , ... Executive Director and former Acting CEO, Mr Iain Ross ... Non-Executive Director. --> James Garner , has also ...
(Date:2/4/2016)... , ... February 04, 2016 ... ... presented by Bloomsburg University’s Digital Forensics Club, takes place February 5-6 at ... event features 20+ speakers and activities such as workshops and competitions for ...
Breaking Biology Technology:
(Date:2/1/2016)... wallet ( www.wocketwallet.com ) announces the launch of a new video featuring ... Las Vegas , where Joey appeared at the Wocket booth ... , where Joey appeared at the Wocket booth to meet and ... at the Consumer Electronics Show (CES2016) in Las Vegas ... fans. --> --> The video ...
(Date:1/25/2016)... Jan. 25, 2016   Unisys Corporation (NYSE: UIS ... F. Kennedy (JFK) International Airport, New York City ... identify imposters attempting to enter the United States ... them. pilot testing of the system at Dulles ... terminals at JFK during January 2016. --> pilot testing ...
(Date:1/22/2016)... , Jan. 22, 2016 ... addition of the "Global Biometrics Market ... their offering. --> http://www.researchandmarkets.com/research/p74whf/global_biometrics ... "Global Biometrics Market in Retail Sector ... --> Research and Markets ( ...
Breaking Biology News(10 mins):