Navigation Links
Proteonomix Settles Litigation
Date:4/1/2013

PARAMUS, N.J., April 1, 2013 /PRNewswire/ -- Proteonomix, Inc. (OTC: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, today announced that it has settled investor litigation upon the following terms and conditions:

1)  The Company will pay to the Investors, a group of ten funds, $200,000, the first $50,000 in cash due and payable today, with the remaining $150,000 to be paid through the issuance of common stock. That stock will total 300,000 shares and will be released in 50,000 shares traunches commencing today and equal traunches will be released every five trading days until the 300,000 share total is released.  All shares issued pursuant to this Agreement will be free trading.

2)  If the liquidation of the above mentioned shares does not equal $150,000, then the Company may either execute a sixty day note for the balance, or issue additional shares until the $150,000 sum has been reached.

3)  If the above mentioned shares are not delivered in a timely fashion then the Investors shall be entitled to 125% of the assumed value of the shares as liquidated damages.

4)  441 shares of Series E Preferred Stock held by the Investors will be converted into 358,537 free trading common stock at the conversion price of $1.23.

5)  An additional 1,540 shares of free trading stock will be issued to one investor to rectify a prior issuance error.

6)  A swap of 151,647 free trading shares will be made with four investors holding restricted shares.

7)  The Company shall issue new Series A and Series B Warrants to the investors.  The only changes to these warrants are the exercise price and term. All of these warrants shall have a five year term and are exercisable at $0.75 an $1.50, respectively. Upon issuance of these new warrants, th
'/>"/>

SOURCE Proteonomix, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Proteonomix Announces a Private Placement of $3.8 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/31/2015)... , Aug. 31, 2015  For people with ... brighten their day. The biotechnology company, located in the ... one of the best potential therapies yet for people ... entitled, " Correction of Down syndrome and Edwards syndrome ... journal DNA Research . Elixirgen plans to develop ...
(Date:8/31/2015)... , Aug. 31, 2015  US-Australian drug discovery ... ) today confirmed its comprehensive scientific review has ... platforms in areas of unmet patient need. Novogen ... remaining preclinical projects prior to entering into Phase ... Acting Chief Executive Officer, Iain ...
(Date:8/31/2015)... Israel , Aug. 31, 2015 ... Dario™ Diabetes Management Solution, today announced it recently ... million. Funds will be used to support the ... the Dario, a mobile, cloud-based, diabetes management solution ... stylish, ,all-in-one, pocket-sized, blood glucose monitoring device, and ...
(Date:8/31/2015)... ... August 31, 2015 , ... The ... successful food and beverage processors, equipment manufacturers and leaders in the field of ... industrial weighing and formulation for manufacturers of bakery and snacks; beverages; dairy; meat, ...
Breaking Biology Technology:New Down syndrome therapy discovered 2Novogen Announces The Outcome Of A Comprehensive Science Review 2Novogen Announces The Outcome Of A Comprehensive Science Review 3Novogen Announces The Outcome Of A Comprehensive Science Review 4Novogen Announces The Outcome Of A Comprehensive Science Review 5Novogen Announces The Outcome Of A Comprehensive Science Review 6LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 2LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 3LabStyle Innovations Closes $2.5 Million Funding to Support Global Rollout of Dario Diabetes Management Solution 4METTLER TOLEDO Hosts Food Safety Educational Center at 2015 PROCESS EXPO 2
... Koronis Pharmaceuticals, Inc., a,biotechnology company focused on ... of Daniel H. Petree and George R. Painter,Ph.D. ... Petree is a founder and member of P2 ... science companies. Prior to forming P2,Partners, Mr. Petree ...
... Researchers in South Africa latest to report patient ... Instruments, a,leading surgical device company, today announced that ... welding technology.,Physicians in North America, Europe, the Middle ... effective and precise instruments for a wide variety,of ...
... AMT), a leader in the field of human ... of rotation to appoint independent,directors to its Supervisory ... Philippe van Holle, Head of Celgene Europe (NASDAQ: ... shareholders. Mr. Van Holle is expected to,replace non-independent ...
Cached Biology Technology:Koronis Pharmaceuticals Announces Appointment of Daniel H. Petree and George R. Painter, Ph.D. to Board of Directors 2Starion Achieves Worldwide Distribution of Proprietary Tissue Welding Technology 2Amsterdam Molecular Therapeutics to Appoint Philippe van Holle (Celgene) to Supervisory Board 2Amsterdam Molecular Therapeutics to Appoint Philippe van Holle (Celgene) to Supervisory Board 3
(Date:8/31/2015)... Research and Markets ( http://www.researchandmarkets.com/research/st5b3m/saudi_arabia ) has announced the ... - Growth, Trends & Forecasts (2014-2020)" report to ... Sensors market is estimated at $0.23 billion by 2018 ... The near future will bring biomedical sensors ... individual. These sensors can be set to trigger alerts ...
(Date:8/25/2015)... CITY and BELLEVUE, Wash. ... leader in advanced robotic systems, announced today it will ... unmanned ground vehicle (UGV), at the National Tactical Officers ... The Guardian S is the first-ever ... culmination of years of research and in-field trials and ...
(Date:8/20/2015)... The wearable technology market has traditionally ... healthy. However, wearable technology has the potential to ... improve diagnostic capabilities and therapeutic outcomes. Today, Leaf ... Technologies Conference 2015 , where Barrett Larson ... healthcare.    "Over the past decade, ...
Breaking Biology News(10 mins):Saudi Arabia Biomedical Sensors Market Report 2015 - Growth, Trends & Forecasts (2014-2020) 2Sarcos to Debut First-of-its-Kind Snake Robot 2Sarcos to Debut First-of-its-Kind Snake Robot 3Leaf Healthcare Releases Video from Wearable Technology Conference on New Applications for Wearables in the Hospital Environment 2Leaf Healthcare Releases Video from Wearable Technology Conference on New Applications for Wearables in the Hospital Environment 3
... roamed across Eurasia and North America during the Pleistocene era. ... have long been recognized woolly mammoths ( Mammuthus primigenius ... genetic evidence published in BioMed Central,s open access journal ... closely related enough to mate when they had the chance. ...
... that spurs cells to manufacture a particular splice variant of ... other types of neurodegeneration. The study appears in the May ... ( www.jcb.org ). Like a movie with an ... version. Although scientists have identified numerous proteins and RNAs that ...
... from Finland and France have developed a new synchrotron X-ray ... like meteoric rock samples or fossils. The results have been ... as an advance online publication. Life, as we know ... The three-dimensional distribution of their abundance and chemical bonds has ...
Cached Biology News:A mammoth task -- sorting out mammoth evolution 2New synchrotron technique could see hidden building blocks of life 2
A substrate for all AChE-based EIA kits....
The Synergy HT utilizes a unique dual-optics design combined with monochromator wavelength selection to provide uncompromised performance in absorbance, fluorescence and luminescence reading modes. ...
... just some the things youll be telling others ... edited by Erica Golemis, One look at the ... of topics in protein interaction will tell you ... be a part of your personal protein chemistry ...
... Persistent Analysis Environment 2) Dot plot, ... 3) Software Compensation 4) Cell Cycle ... Platform 7) Intelligent batch generation of graphs ... 9) Single drag-and-drop operations to perform complex ...
Biology Products: