Obligations to Laurus Fully Repaid
LARGO, Fla., Oct. 15 /PRNewswire-FirstCall/ -- Dynamic Health Products, Inc. (OTC Bulletin Board: DYHP.OB) ("Dynamic"), a leading distributor in the sports nutrition product and performance drink industries, announced today that it filed its Articles of Merger with the Florida Secretary of State today as well as notified Nasdaq of its merger with GeoPharma, Inc. (Nasdaq: GORX) ("GeoPharma"), effective Tuesday, October 16, 2007.
Additionally, Dynamic has repaid Laurus Master Fund, Ltd. ("Laurus") approximately $5.9 million in full satisfaction of all obligations to Laurus.
Mandeep K. Taneja, President and CEO of Dynamic stated, "It was a pleasure working with Laurus over the last few years. Their support gave us the flexibility, room, and capital required to help increase our revenue from approximately $16 million in our fiscal year ending in March of 2005 to approximately $56.8 million in our fiscal year ending in March of 2007."
Recently, Dynamic was honored to be ranked number 9 in Entrepreneur magazine's (August 2007 issue) HOT 500 list depicting America's top fast- growth businesses and the entrepreneurs who built them.
About Dynamic Health Products, Inc.
DYHP is a distributor in the sports nutrition product and performance
drink industries and is engaged in developing, wholesaling, and
distributing a wide variety of non-prescription drugs, dietary supplements,
vitamins, health foods, nutritional products, soft goods and other related
products. Their wholly-owned operating subsidiaries include Bob O'Leary
Health Food Distributor Co., Inc., Dynamic Marketing I, Inc. and Herbal
Health Products, Inc. Additional information on the
|SOURCE Dynamic Health Products, Inc.|
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